Northeast Gardening: Money Matters - Part 11, 1 by coleup

coleup wrote:
I'm afraid it means all student loans under current law. It is certainly what my dd is caught up in...along with so many others ...

A Review of The Student Loan Scam: The Most Oppressive Debt in U.S. History – and How We Can Fight Back by Alan Michael Collinge


The Preface begins:

“The truth is that I never considered student loans to be an especially interesting topic. College debt, I believed, was a necessary evil – to be repaid expeditiously and then forgotten even more quickly. However, what I once thought of as an uninteresting issue has come to dominate my life.”

This highly informative book was written by a 1998 graduate of Cal Tech with three degrees in aerospace engineering who, after a student loan nightmare that took him from an original relatively modest $38,000 Sallie Mae loan to an obligation of $80,000 by 2002 and $103,000 by mid 2005. At that point he started the website http://www.studentloanjustice.org in an effort to hook up with others in similar straits, share stories and become politically active in restoring consumer protections for student loans.

In The Student Loan Scam, we read blood-curdling personal stories from Collinge’s website that should make any parent of a college-bound student re-think any plans to saddle a loved-one with student loan obligations under current law. In the event the typical graduate with student loans does not get a $100,000 a year job right out of school and remain gainfully employed at an increasing salary for the next decade or more, student loan debts could result in financial ruin, loss of professional credentials and security clearances and, in some cases, suicide and debilitating depression.



http://solari.com/blog/special-solari-report-the-student-loa...