Killer Student Loans

“This year Americans’ total outstanding student loan debt from federally funded and private loans was estimated at $833 billion, a sum that exceeds our credit card debt (though the two kinds of debt overlap, since, as the Smith study showed, credit cards are used to help pay tuition). The Chronicle of Higher Education reported in July that the 15-year default rate for federal loans is 20 percent; for loans to community college students, 31 percent; for loans to students at for-profit schools, 40 percent.”

**** HIGHLY RECOMMENDED READING if you are new to the Student Loan Disaster. ****

LINK to “Killer Loans: Student loan borrowers drown in debt as lenders make billions.” in Valley Advocate News


4 Responses to “Killer Student Loans”

  1. lets just say I had to transfer from the college I attended my first two years because i was already 50,000 dollars in dept. I would have been paying over 100,000 dollars for an under gaduate degree. Thats crazy.

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  4. Ouch, what the heck is going on with our student loan repayment programs? This is getting ridiculous and I hope the feds put some kind of cap on loan repayment fees for students, so that they are not financially doomed coming out of college.

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