The Wall Street Journal ran a lengthy article today about Sallie Mae’s new direction for their private student loan offerings – making kids pay the interest on their loans while they are still in school. Honestly, I think this is a great idea, as it will cut the total amount of the loan by as much as 40 percent when they graduate from college. On the other hand, it might be pretty tough for a student to raise an additional $400 each month on top their beer/pot funds.
As someone who is DEEPLY in “knowledge” of the Sallie Mae student loan system, I both applaud and condemn this new policy. I think their positioning of “trying to help students in the long run” is a veil for the real reason behind the change. Within 2 years, Sallie Mae will not exist (fingers crossed) since nobody can afford to pay back their loans. This is just one last attempt to get as much money from these suckers as they can before Obama sweeps in and gobbles them up. And when that happens, I’ll be much happier sending my check to the gov’t than to this bitch Sallie each month, that’s for sure.
Sallie Says Students Should Suffer While Still In College (As Well as After): http://www.reuters.com/article/marketsNews/idUSBNG43818220090319
No comments:
Post a Comment