Protection For All But Student Loans
by Tran, Harry ~ June 18th, 2009. Filed under: My Writings, Rants n Raves.Obama wants shield for consumers
With all the types of protection that Obama wants to instate for consumers, there is no mention of protection for students entering college and taking on student loans. Of course there isn’t any advocate group to protect consumers from taking student loans that they can’t possibly afford to pay for.
College has been touted as the greatest thing that any person can ever achieve and that sentiment has been carried over to blind people into not protecting more students from borrowing excessively to achieve receiving a college degree.
Why would we want a watchdog group that will watch over every other loan type from mortgages to credit cards but fall short of student loans? Student loans may be one of the biggest type of loan a person ever pulls out for themselves aside from a mortgage yet it is done when they are at a young and inexperienced age of 17-18 and you’re telling me they don’t need a watchdog making sure they don’t get in over their heads? Of course not, because student loans are loans taken out against the Government and because of that it means that students are indebted to the Government until they can pay off their loans plus interest after graduating.
This is why I wrote “The Next Bubble To Burst – Student Loan Repayments” enlightening people to becareful when deciding to take a student loan.
