> Federal government is backing almost all the student loans, but universities automatically increase their tuitions.
On the condition of getting the federal student loan is that the loan is exempts from bankruptcy. The loans follow us to the death or until it is paid off. It actively screws those naive students until to the point of no return. I have a friend who is still stuck paying the loan more than 15 years because the wage are not above the cost of living.
This is a huge legal binding part caused a lot of them instantly debts trap while the universities keep pushing the envelopes with the tuitions without oversight
Edit: But there are federal loan forgiveness programs. They have many of them. If your degree in your career and it end up into career ending situation, they have a program for this. However, I don't know if those program changed due to DeVos involved meddlings with various programs.
On the condition of getting the federal student loan is that the loan is exempts from bankruptcy. The loans follow us to the death or until it is paid off. It actively screws those naive students until to the point of no return. I have a friend who is still stuck paying the loan more than 15 years because the wage are not above the cost of living.
This is a huge legal binding part caused a lot of them instantly debts trap while the universities keep pushing the envelopes with the tuitions without oversight
Edit: But there are federal loan forgiveness programs. They have many of them. If your degree in your career and it end up into career ending situation, they have a program for this. However, I don't know if those program changed due to DeVos involved meddlings with various programs.