Experience With Private Student Loans

They say that you can’t afford not to get a college education. In this economy with people remaining in school or returning to school, the need for student loans continues to increase.  So does the debt. Some students end up burying themselves in debt even before they have a chance to balance the ledger.

We got word of a Know Before You Owe student loans project, as well as the Student Debt Repayment Assistant created by the Consumer Financial Protection Bureau.

The same organization seeks info from anyone who ever borrowed a private student loan, and they want student loan borrowers to tell them more about whether this market did or did not work. Why did you take out a private loan? How did you decide to do it? Did it affect your study or career choices?

Interested to share your thoughts? Go to http://www.consumerfinance.gov/students/your-experience-with-private-student-loans/

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2 Comments

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2 responses to “Experience With Private Student Loans

  1. I found that getting a government student loan was a pretty easy process so I didn’t even need to seek a private student loan. It took probably 2-3 hours to fill out a few applications and went directly to my school. I was very pleased with the overall process.

    • ladyrock

      Hi Zach,

      Good that you investigated your options beforehand. Many students get stuck with various student loans with adjustable rates and payoffs.
      And we thought that studying was supposed to be the most difficult part of school.

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