Billions in high-interest loans being handed out to people who probably shouldn't qualify for them, who may not understand the full terms of the loans, and who will likely have trouble paying the money back. Sounds a lot like the stories we were writing five years ago as mountains of subprime, adjustable rate mortgages were coming due, but now it's about the massive number of student loans written in recent years.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
It should be very clear that paying back borrowed money is a no brainer. I understood that when I borrowed money for school however the unknown amount of paper signed after the fact and the misinformation given to my by Sallie Mae and the Student Assistance company has been a nightmare. If I would have known this there would never have been a degree in my life.
I don't want to understand it I want to have it paid off, forget the why and reason put the monthly payments I make towards the loan.
10:11,
The heart of your comment is basically this (paraphrasing, of course):
"If I had known how expensive it is to get an education, I wouldn't have bothered."
I hear you, and I say this: What a sad, sad country we live in when you have to choose between becoming a better person, and keeping food on the table. Want to learn? Want to educate yourself? Want to better yourself? Sorry, that's a game for the rich. Now stay poor and ignorant.
What a damn shame. This country is a mess.
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