Mallory's Musings & Mischief on Nostr: I'm not even sure that compound interest is entirely bad. I just think that its ...

I'm not even sure that compound interest is entirely bad. I just think that its ubiquity is wrong.

Like, why do student loans have compound interest? I thought the point of higher education is that all of society profits from it, not just a select few?

Why does medical debt have compound interest? Why is someone being punished annually while paying off a debt they did not anticipate or seek out? More pointedly, why should someone expect to profit exponentially from that situation?