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Private loans skyrocket

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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  5. Sen. Schumer fights for college loans

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This entry was written by admin and posted on August 28, 2009 at 1:43 pm and filed under Uncategorized. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.

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One Comment

  1. The fact that many students are taking out private loans before using up all their eligibility for federal guaranteed loans is not really news. It has been known to the U.S. Department of Education since 2003. The question arises as to why the Department has not done more to address the situation.

    1. Public Administrator on August 28th, 2009 at 5:37 pm