I think a typical example of the debt trap based on your definition could be US-based student loans. I haven’t experienced the system, but I’ve seen many content creators on TikTok talk about how these loans have fucked up their finance. The lament about how they’ve been paying the loans for years after their graduation and employment, and still haven’t paid half the loan. And most of these people have pretty good stable salaries.
You are viewing a single comment's thread from:
Right, that's a great example of a debt trap. Many students will work for a lifetime and still not be able to repay the loan. It's a financially scary situation to be, especially if one decides to take the traditional career path. There have been talks to cancel student debt in the US but I'm not sure how far that will go and what impact it will bring.
Thanks for stopping by :)
I don’t think they’ll cancel it. They’re making too much off of it to do that to themself. What happens to their “commitment” to give the poor and underprivileged a shot at education if they do?
Yes, I think it's mostly a business operation in the background. They might cancel a few to give hope to the rest but nothing concrete will come out of it.
I see them as words they throw in the air to move the public. The reality is that most don't care about the poor or the underprivileged.
And it’s not even a secret!
Yes! Almost everything is out in the open nowadays.