teamanalyze

  Here's a new one. One of our neighbor's daughters (Annie) is about to head off to a college that believes that student loans are bad, so they don't offer them!!! While I can cheer that college on for their decision, it unfortunately forces those students who need loans, to obtain them from private channels, rather than from FedLoans. This poses a significant risk for the college students for several reasons. I'll talk about private loans first. Private Student Loans (PSL) According to Student Loan Borrower Assistance (dot) org, "In theory, private student loans are used to fill the gap between available federal aid, and what students and families can afford to pay out-of-pocket for college costs. In practice, unfortunately, many borrowers take out these higher cost loans without first exhausting their federal student assistance options."  PSLs  lack the more affordable, fixed rates, and flexible repayment options that federal loans have. Prospective borrower...