Tuesday, May 22, 2007

Student Loans

One thing is for sure, when I started college I had no idea how BIG of a part my student loans were going to play in my first 10 years of life. Most 17-18 year old students applying for loans have no idea that when they choose a vendor they are choosing who to marry for the next 10-15 years.

Most student loan companies are scum, many will:
God Forbid you default:

  • Your interest rates more than double
  • Refer you to a collection agency... who will violate your rights
  • Forbid you from consolidating
  • Offset all of your tax refunds (steal them back, legally)
  • Garnish your wages without a COURT ORDER!
You see if you are a loan company you want to be in the student loan business because the loans are guaranteed by the US Government. If you fail to pay, they can get the money by the government. And since the Government is cheap when it comes to they will get their money!

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