The current administration under President Obama has been working wonders when it comes to federal student loans, for which we are grateful! But the fact remains that college students, inexperienced with financial burdens, are accepting massive private loans alongside federal to pay their college tuition.
Private loans obtained in such a way have very little in the way of restrictions to prevent these students from being pressured into large monthly payments they cannot meet in today's economy, with no forgiveness over time.
My name is Liz, and I owe ~$130,000 in private loans for my college education. Because I dared to pursue my dream career I now must struggle to pay ~$700 a month in private loan payments. This is the lowest payment option available to me.
Please help! And thank you.