Comment Re:It's cheap compared to India... (Score 1) 1259
In India, student loans are 12% compound interest; while the borrowing rate in good banks is as high as 7.5% compunded quarterly.Money makes the world go round...
Yes and India's inflation rate is 8.3% (https://www.cia.gov/library/publications/the-world-factbook/geos/in.html) and has been as high as 11% within the past year, but even at 8.3% that makes the real interest rate less than 4%.