So Congress hears our testimony of how we were never informed about the way that our student loans were to be compounded, capitalized, sold to various lenders and slapped with excessive fees, penalties and interest, and how bankruptcy and other consumer protections were removed AFTER many of us had already borrowed...and heres what they do in response. No help to borrowers, only a bunch of bills about full disclosure in borrowing, that will probably result in another layer of red tape and another line of small print for future students who will go on having to take out big student loans.... and no real change is ever made. They finally acknowledge that the system has been unfairly slanted toward the lenders and the schools, but offer no help for the loan debtors. I urge everyone fighting for student loan reform to get on the email list for the Education and the Workforce Congressional Subcommittee and to like their FB page. There, you can see what they are doing and talking about, and it aint pretty. edworkforce.house.gov/news/documentquery.aspx?DocumentTypeID=1823
Posted on: Wed, 09 Jul 2014 16:18:18 +0000