The Project on Student Debt, a great group, has a new report detailing the surge of private debt taken by students. The interest rates are higher, more variable, and the penalties for not paying are more onerous. Yet the students are turning there more often? I wish the report had more explanations why. Are the Federal lines tapped out? It doesn’t look that way. Are the schools steering the students toward the more expensive loans? That’s happened in the past. I hope we’ll see more investigating in the future.
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