Private student loans are a burden on college attendees and graduates. Unlike many federal student loans, banks do not offer consolidation of private student loans. This results huge debt issues for these students and/or graduates.
American Education Services (AES) is a popular buyer of student loan debt. As such, they set the standard in disallowing loans to be meaningfully consolidated. Unfortunately, many of these millennial loans are now under investigation.
We ask that the Obama Administration advocate discussions with bank leaders or debt buyers in order to help alleviate private student loan debt. It is important that these leaders understand students shall remain responsible for the loans; they should be allowed avenues to pay off loans in a more efficient and responsible manner