Students, Beware: Private Student-Loan Companies Are Not Your Friends | The Nation

6 Sep

This year, as these students prepare to sign away their futures, they would do well to consider a report released by the Consumer Financial Protection Bureau (CFPB). On July 20, the agency designed by Massachusetts Senate candidate Elizabeth Warren released “Private Student Loans,” a devastating expose of the $150 billion private student loan industry, one of the banking world’s Goliaths. The report is both an official account of private lenders’ underhanded “subprime-style” tactics as well as a sharp warning against taking out private loans that put students at risk of financial ruin.

via Students, Beware: Private Student-Loan Companies Are Not Your Friends | The Nation.

One of the grievances from the Monpelier Manifesto: “A higher education system that is becoming so expensive that only the rich will be able to attend college; all others look forward to debt slavery.”

 

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