Know Your Loans [via the LA Times]

I just came across this rather disturbing article on the LA Times. HackCollege mentioned the loan crisis last summer when an out-of-court settlement was made regarding big lenders and schools being in bed together.

This article shows how big lenders try to blur the lines between privately- and federally-backed loans. Read the article and try to not shit your pants.

Student loans turn into crushing debt for unwary borrowers [LA Times]

Comments

[Mike Bertolino]

Those stories are scary.

[Twin XL]

Wow, this IS SCARY... thanks for posting though!

[Tom]

That is a scary thought. I believe in the new credit card reform bill, universities have to disclose what kind of deal they have the credit card companies, but I guarantee they will always find a way around everything ;)

[Piedude]

As my father said after he received his doctorate, "Now that I am done with my education, I can start paying for my education." Fast Forward ten years and he is still paying loand.