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SharonAnn

(13,932 posts)
3. A lot of explanations are not readily understood by those who are not very financially literate.
Tue Aug 23, 2022, 08:41 PM
Aug 2022

And the private for-profit colleges put on a hell of a sales pitch. They're just a scam and many people are victimized by them.

In addition, our student loan process and policies are so bad they are almost criminal. If banks could borrow at almost 0%, why couldn't students? And then, supposedly there is a forgiveness if you spend 10 years in a particular group of public service jobs, bu the loan companies are allowed to misrepresent this and it's the students who are screwed? They're in the jobs they were told would grant forgiveness but the company lied to them. So the student still owes the money? Baloney, go after the loan provider and get the money from them.

To expect students to know more about all this financial stuff, scams, and chicanery is ridiculous. Most of us mature adults with an MBA would have trouble sussing out the details of each and every scam with this stuff.

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