Student loans: Is the authorities a beneficial predatory lender?
Training Economist – Journalist – Plan Expert – Storyteller
Past month, the previous education loan icon Navient paid a lawsuit to your attorneys standard many says. On top of other things, there were states produced you to definitely Navient got produced money in order to students within schools which have reasonable graduation costs – colleges in which Navient allegedly realized a high part of individuals perform struggle to pay-off them.
Navient declined breaking any guidelines regarding payment, nevertheless the fit delivered revived personal profile to your plight out of unrealistic education loan personal debt. Providing students who’ve other monetary items liberty so you can use are an effective rules. Saddling some body with debt they’re able to never ever relatively be likely so you can pay-off is not.
Predatory lending is more than vulgar rates of interest or tension transformation ideas.