Unlike all other loans in this country, Federal and Private student loans have been uniquely stripped of the most fundamental consumer protections, including bankruptcy protections, statutes of limitations, and others.
At the same time, collection powers, and financial incentives have been created for these loans that make defaulted loans more lucrative for the lenders, guarantors, and even the federal government in many instances!
The result has been a predatory, inflationary lending system which works against the students by design, and in a bad-faith manner. This must end.
Congress and the President created this problem through legislation. Similarly, Congress and the President must correct this problem NOW.
See Studentloanjustice.org for more-