Me and my fiance just realized after 6yrs of borrowing thousands of dollars to pay for bachelor and graduate degrees that the private lenders intend to make hundreds of thousands of dollars maybe even a half million after graduation. There is no way that he and I together will ever come close to affording this kind of interest rate. Over 8%-10%/yr on each loan, are they crazy!!!!? Predators indeed if anyone knows of any recourse regarding these practices please send me an email or answer here. And Cissy overwhelming is correct what is a student to do, in order to pay for a decent education and live you have to borrow money but to pay such an astronomical penalty is beyond unfair and seems like a classic case of usary.

Thank you,

Heather