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Student
Suze explains how student loan crisis is looming as the next big thing. She says the real estate implosion and banking crisis including the credit crunch have not yet been dealt with well. She implores Congress to head this one off at the pass as our young people are being saddled with compounding interest at such a rate that very quickly the loans become insurmountable. The show took place on 1/24/09.
Archived; click post to view.
Excerpt:
Default: The Student Loan Documentary is a feature-length documentary chronicling the stories of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system. In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin. www.defaultmovie.com A…
By carefully choosing student loans, grants, and scholarships as part of your entire college financial aid package, you can avoid going into heavy college debt. Kimberly Palmer, senior editor for US News, discusses financial aid tips to help in paying for college and minimizing student debt and the differences between private loans and federal college loans. For more college financial aid advice go to www.usnews.com
Turae reflects on his college career and the repercussions of not repaying student loans.
consumerwarningnetwork.com has the details Instead of helping people achieve their dreams of using education to better their lives, Sallie Mae, America’s largest college student loan corporation, is apparently doing what it can to destroy those dreams through misrepresentation and manipulation. Students are seeing their FICO scores drop as much as 130 points when recent credit reports are pulled.
