I have been bugging Alan at Student Loan Justice to talk more about Student Loan interest, etc. accumulating on these loans. As you can see it is not unusual to accumulate more interest or other costs than the original loan amount. It is also not unusual for the servicer to collect interest before paying down the principal. These loans will be with these people forever and to their graves. I do not know of any consumer loans exploding like student loans do. State and federal laws protect borrowers from this type of abuse. Tags: Alan Collinge, Student Loan Justice Org, student loans
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run75441 considers the following as important: Alan Collinge, Education, Hot Topics, politics, Student Loan Justice Org, student loans
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I have been bugging Alan at Student Loan Justice to talk more about Student Loan interest, etc. accumulating on these loans. As you can see it is not unusual to accumulate more interest or other costs than the original loan amount. It is also not unusual for the servicer to collect interest before paying down the principal. These loans will be with these people forever and to their graves.
I do not know of any consumer loans exploding like student loans do. State and federal laws protect borrowers from this type of abuse.