Where is the Money? 0

Borrowers Beware

Recently I have been asked to help recent college graduates who are faced with enormous student debt. In some instances, they have had taken co-signer loans while in college. Those lenders like Sallie Mae were offering them in incredible amounts over the last 10 years. The rules varied as to when (and if) the creditworthy cosigner would be released from the obligation.

In 90% of the cases that will never happen and the lenders know that.

This article is about the misinformation and complex terms in college lending. Unfortunately, Congress over the years has been heavily influenced by the lending companies (now being bailed out by taxpayer money) and the colleges themselves.

None of them have the student’s long-term best interest as a priority. That is a shame. To get a quick understanding of the problem listen to this.

At Programs for Education, we have options ambitious students can take advantage of to pay off their debt faster. If you know of any student facing enormous debt now or in the future, give us a call. Many families are paying for college from cash flow alone with this program.

In addition, all current students can learn about the various loan forgiveness and debt relief programs for graduates entering certain fields of employment. In the meantime, if a student is considering future college costs, now is the time to do a Dry Run to see how much they may have to borrow, if at all.