Will Rising Interest Rates Hurt Me?
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If you\\u2019re someone with a lot of student loan debt, you\\u2019re probably more familiar with the negatives around interest rates. But borrowing money isn\\u2019t necessarily a bad thing, and interest rates are a much more interesting and important topic than you might think. I\\u2019ll break down what interest rates are, why they\\u2019ve been rising steadily in recent months, and give you some guidance on making big decisions that will impact your financial future.
In today\\u2019s episode, you\'ll find out:
- How interest rates are set in the economy
- The different between term premium and credit premium
- Why borrowing money costs more than paying with cash
- When it makes sense to borrow instead of saving and paying with cash
- Why student loans cost more than mortgages
- How pawn shops and payday lenders prey on the poor
- Why student loan interest rates are usually lower if you refinance
- Why interest rates don\\u2019t matter if you\\u2019re pursing PSLF or long-term forgiveness
- Why the government might focus on cancellation vs. lowering student loan interest rates
- My prediction on student loan interest rates for 2021 and 2022
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