PRIVATE STUDENT LOANS - have harsh terms with no benefit to the borrower. There is no cap on interest and cannot defer unless in school, cannot bankrupt and they are ruining innocent people's credit.
fianancial aid offices are not warning borrowers of the harsh terms of these private loans. It is not ok to have uneven bargaining powers over the student.
There is NO WAY OUT, not even bankruptcy, which is supposed to help a human being who is drowning.
the banks should not be allowed to be so harsh, they need caps on interest rate and need better terms for the hardship students.
i graduated and never passed the bar, never benefitted from the education and yet i owe more money than i could pay off before i die.
i will have to be in school for the rest of my life