Student loans were, of course, supposed to be a good idea. They would help people acquire knowledge and skills that would qualify them for higher-paying jobs.
What largely happened instead is that student loan borrowers are saddled with debt repayment obligations they cannot meet. They then default, their credit score goes in the tank, they are harassed by debt collectors, their wages (if any) are subject to garnishment, no one wants to employ them because they are in a state of financial – and probably emotional – distress, and the Bankruptcy Code doesn’t allow for a discharge of their debt.
A recent Associated Press article estimated the number of student loan borrowers at 44 million and outstanding student loan debt at $1.4 trillion,…
Read the full article at: http://gazette.com/jim-flynn-as-student-debt-rises-fake-relief-firms-prey/article/1605834
