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As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
12 and 16% from federal student loans?
I think those predatory rates are private lenders, but those are still given the same protections to make you pay no matter what as far as I am aware.
Yes my 12% is a federal loan. Not sure on the 16.
You can look up historical interest rates for federal loans. They have never been that high. https://studentaid.gov/understand-aid/types/loans/interest-rates#older-rates