The private sector needs an advocate. Repayment of Stafford Loans is putting an enormous strain on our work force. The unbending rules that apply and the glaring lack of collateral, leave the debtor little or no avenue to shop for lower interest rates or better terms. Those who consolidated their loans when interest rates were high (7%) have been unable to renegotiate that rate, even when rates sunk many points lower. The result is that Stafford loan debtors are paying many thousands of dollars in interest to the Loan Servicer's every year, while barely making a dent in the principal owed. The young workforce who have attempted to better themselves with higher education are being suffocated. Where is the Loan Forgiveness Program for the Working Stiffs? We can't ALL be public servants.
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