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Student Loans during Hyperinflation

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    The dollar is crashing. If there is a 1930's style depression and hyper inflation sets in (20% - 30%) would you demand interest be fixed on your student loan?
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    you're not in a postion to demand anything. a quick peek at the t&cs on your loan will tell you that the only action you could take would be to pay it off and not take more....
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    (Original post by OakBeans)
    The dollar is crashing. If there is a 1930's style depression and hyper inflation sets in (20% - 30%) would you demand interest be fixed on your student loan?

    If there was a second depression, the intrest rate on your student loan would be the least of your worries.


    -Rob
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    (Original post by OakBeans)
    The dollar is crashing. If there is a 1930's style depression and hyper inflation sets in (20% - 30%) would you demand interest be fixed on your student loan?

    Surely if the loan rose to such an amount then it would simply be at a level where it would go unpaid for 25 years and then be written off? The payment terms are fixed at a certain percentage of your pay (and capped once you reach a certain level), so, although the amount could rise to extortionate levels, it wouldn't be the end of the world.
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    Surely in a time of hyperinflation you'd be better off? I'm fairly sure I remember in history that debtors actually came off better for a depression than those who had saved a lot, since the £4000 (or whatever) they owed stayed the same, but they were being paid ridiculous sums like £10,000 a day, if you get what I mean.

    This is why I'm not an economics student.
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    Current rate has doubled since i applied... under impression of 2.4% since september its 4.8%

    We weren't told this direclty.

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Updated: November 24, 2007
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