There is no denying that America suffers from a student loan debt crisis, as even young accountants can find themselves saddled with debt which is not easily forgiven. The statistics at this point are well known: 44 million young Americans owe $1.48 trillion, with private loans hitting $7.8 billion in 2014-15. While private loans may make up a small portion of total student loan debt, they are much more dangerous for borrowers than government loans. Private loans lack flexible repayment options, basic consumer protections, and generally charge higher interest rates.
But with crisis comes opportunity, and accountants have an opportunity to make a real difference with their clients. By knowing what private student loans are …
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