Student Loan Lament
Debt Agencies Defraud Broke College Grads
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  • Andrew Allison

    I assume that among the opportunistic scammers you include the institutions of higher education who sucked the students into the debt in the first place.

    • Pete

      That’s right. The scammers are small potatoes compared to the university establishment which is the root of the problem.

  • Gerald

    I am sorry that college debtors are being scammed by others. However, what does it say about the quality of college education that graduates are so ignorant of basic principles of personal finance?

    • Pete

      It shows that many should never have been let into college in the first place, let alone graduate

      Reports show that in four years — or how ever long it take to graduate these day — many of the kiddies are shocked to realize what it means to actually have to pay back their student loan debt.

      And to think that society allows them to vote. Lord have mercy.

    • Thirdsyphon

      The kids who sign up for these loans are high school graduates, not college graduates, at the time they make these decisions. But I’m sure that nobody here ever had a lapse of judgment about anything important when they were teenagers. . . certainly not about something as simple as financial planning for the next 20-odd years of their lives.

      • Breif2

        I assume you meant to reply to Pete, as Gerald is clearly referring to college graduates. As was I, in this post which considers it necessary to advise college graduates that “repayment needs to begin with an accounting of every individual loan. Start with whatever is in your files. Then check to see whether you’re aware of all of your federal student loans.”

      • Andrew Allison

        What you miss is that it’s their, apparently irresponsible and financially illiterate, parents who are making the decisions.

    • Andrew Allison

      Let’s stipulate that college education is defficient. The issue is that the debt is incurred before graduation.

  • FriendlyGoat

    Another case of the incorporated “business community” doing what it does best when free to operate under the libertarian world view. Why do we have these meddlesome attorneys general barging in to ruin good-ole American-style profiteering?

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