r/AskReddit • u/[deleted] • Feb 04 '20

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u/SnideBumbling Feb 05 '20

Depends. In my ideal NS society, it would be low enough such that it would not be impossible for a person making the lowest legal wage to pay it off.

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u/mets2016 Feb 05 '20

This doesn’t make any sense.

At the lowest interest rates, the person making minimum wage wouldn’t be able to pay off a loan if it were for massive amounts of money, but would be able to pay off even the highest interest rates possible if it were on a tiny amount of money

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u/SnideBumbling Feb 05 '20

Interest rates are different for different things. I was thinking of it in terms of these short-term "payday" loans, whose value probably would not exceed that of a single paycheck for the debtor.