Problems with Private Student Loans

Yesterday's Times had an article "With Few Limits and High Rates, Private Loans Deepen Student-Debt Crisis," that discusses some of the problems caused by the failure to regulate student loans from private lenders.  Among the problems: students seem not to know basic terms of their loans, including the interest rates.  Sounds like an argument for applying Truth-in-Lending to student loans.  Maybe if TILA applied to student loans, it wouldn't matter so much who the preferred lenders are.

Comments

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[Student Loans]

Hi Very good blog - thanks for the info David

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student loans are becoming very hurtful, these loans are costing students thousands of dollars in interest for decades.

[Student Loan Alternatives]

I guess student loans have been so natural to college education that signing documents tend to be taken lightheartedly. Eventually they realize of the huge financial obligation that came along with the loan. I think more loan alternatives should be given to students. I cannot imagine graduating with so much debt to carry on my shoulder.

[Business Loans]

Seems like students are not paying attention to what they sign...

[Small Business Loans]

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[Erica]

Please sign this petition to help end the future of student loan debt for all college students!!!

http://www.petitiononline.com/endloans/petition.html

Thank you!

Erica