?

Log in

No account? Create an account

Previous Entry | Next Entry

My tweets

</lj-c

Tags:

Comments

kengr
Jul. 25th, 2015 03:07 am (UTC)
Fri, 10:00: cornerstorepress: jazzytee: cornerstorepress: jazzytee: jazzytee: American Education Services is such shit.... http://t.co/BtuIQQzqFB

Somebody doesn't understand how loans (and interest) work.

If you owed $10,000, and this months interest is $10, then at that point you *now* owe $10,010.

So if you pay $15, That reduces what you owe to $9995. (and next month you'd likely get $9.995 in interest added, which becomes $10, because they can't charge you fractional cents)

If you pay $10, that reduces things to $10,000. Thus you haven't reduced what you owe at all.

If you pay $5, you will now owe $10,0005. In other words, you'll be losing ground.

At the date of each month where interest is accrued, it *becomes* part of the loan. Interest and principal are *not* seperate things, except in that they may list the newly accrued interest seperately AS A COURTESY so that you will know how much you'd need to pay to not lose ground.

This is not student loans. This is *any* loan.
fayanora
Jul. 25th, 2015 06:33 am (UTC)
Yes, but student loans interest is so fucking high that you can pay over $100 a month and end up owing more next month than you did that month, because that $100 was all interest. You haven't been to college in ages, so you don't know, but I have. I went to HALF A YEAR of college and it took me 10 or 15 years to pay them back for what I loaned for that time. That is fucking absurd.
fayanora
Jul. 25th, 2015 06:35 am (UTC)
Of course, college is already absurd because they try to convince you that it actually costs them hundreds of thousands of dollars per year per person to run the place, when they are in fact making money hand over fist because at least 75% of what they charge you is pure profit.
kengr
Jul. 25th, 2015 06:38 am (UTC)
Remember, unless it's a "for profit" college, any "profits" go back into running the college.

*What* part of running the place is taking all the money might be a problem, but they've got the IRS just *waiting* for them to goof so they can fine them.
fayanora
Jul. 25th, 2015 06:38 am (UTC)
All US colleges are for profit. Or, at the least, most of them are.
kengr
Jul. 25th, 2015 06:40 am (UTC)
You didn't read my reply to alex, did you? They are mostly non-profit educational (I forget which 503 category that is).

Seriously.

fayanora
Jul. 25th, 2015 06:41 am (UTC)
"*What* part of running the place is taking all the money might be a problem, but they've got the IRS just *waiting* for them to goof so they can fine them."

Your information is outdated. This country is owned and run by the Koch brothers and their 1% cronies. The IRS knows not to pay any attention to them and their cronies. Which includes the people who run the colleges.
kengr
Jul. 25th, 2015 06:42 am (UTC)
spleen
fayanora
Jul. 25th, 2015 06:43 am (UTC)
Okay, but you're still wrong.

Profile

mourning
fayanora
The Djao'Mor'Terra Collective
Fayanora's Web Site

Latest Month

September 2019
S M T W T F S
1234567
891011121314
15161718192021
22232425262728
2930     

Tags

Page Summary

Powered by LiveJournal.com
Designed by Taichi Kaminogoya