Private Student Loans
2012-08-16T20:55:33-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMDZiXC8zMDcyMjQtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Witnesses testified about the student loan process and weaknesses in the manner loans had been administered under federal loan guarantee programs. Although private loans make up a small slice of the $1 trillion in outstanding student debt, a new report shows that these loans have the ability to harm credit and future financial security at a disproportionately high rate. A $5 billion industry just over a decade ago, the private student lending market ballooned to four times that size before the economic crisis hit. Government officials are calling on Congress to permit private student loans to be eliminated in bankruptcy.
Witnesses testified about the student loan process and weaknesses in the manner loans had been administered under federal loan guarantee pro… read more
Witnesses testified about the student loan process and weaknesses in the manner loans had been administered under federal loan guarantee programs. Although private loans make up a small slice of the $1 trillion in outstanding student debt, a new report shows that these loans have the ability to harm credit and future financial security at a disproportionately high rate. A $5 billion industry just over a decade ago, the private student lending market ballooned to four times that size before the economic crisis hit. Government officials are calling on Congress to permit private student loans to be eliminated in bankruptcy. close
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