Student loan industry need to be reforming in order to stimulate the economy. Student loans have been unprotected by the standard consumer protections. Looking back to 1997, Sallie Mae successfully lobbied Congress to amend the Higher Education Act and remove consumer protections. They only have interest in debtors defaulting on their loans. At last, the one who really benefiting are the CEOs and corporate officers of companies. The students just get rid off.
Wednesday, February 25, 2009
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