Student Loan Scam

10 Jan
I was a grad student from the fall of 2009 to the summer of 2011. The interest in student loans is a total scam. I  sent off the entire $6,000 that my dad sent me as a Winter Solstice present. I figured that, since the most recent bill had said I owed about $5,000, the $6,000 would more than cover it and take into account the interest. Instead, I received a bill claiming that I still owe $2,050. Apparently each month adds at least $1,000.
I told a friend about this, and she said that the Bush Administration changed student loan policy so that there’s no limit on how much the companies can charge for interest. Also, student loans go to greedy corporate credit card companies.
This doesn’t merely annoy me because of my situation. Many, even most, people have it a lot worse and will be paying student loans till they’re ninety years old. They don’t have stock dividends or a father who can afford to pay off their student loans, like I have. It’s practically impossible to pay off student loans, and I do believe this is deliberate exploitation. Once on Facebook I saw a photo of a woman holding up a sign saying that her student loans were about $23,000 originally, and that so far she’s paid off about $46,000. It’s robbery.
In Europe, education is free, including college education, and that’s how it should be in the United States. No wonder Americans have a reputation for being stupid; in Europe and Asia people can generally get free educations, while in the U. S. education is unaffordable for the majority.

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