Just when you thought that the dust had settled from the scandals of Wall Street (at least temporarily), details come out of another Ponzi scheme by the titans of banking, this time with student loans.
According to recently released court documents, Citigroup, JP Morgan and the education finance company Nelnet are being sued by the federal government for fraud of nearly $280 million from their participation in the Department of Education’s Federal Family Education Loan program (FFEL). FFEL provides billions in annual bank subsidies to private lenders for making student loans –the same subsidies that the student aid bill currently in Congress looks to abolish.'
Read more...
In case of defaults in the repayment of the student loan, the rehabilitation programs of the lenders can be utilized as the way, which help to pay the student loan. In brief student loans can be compared to the common saying “slow and steady wins the race”. If you are able to start the repayment during the study using money from the vacation jobs or part time jobs, it will certainly help to pay the student loan early. Also, keep in mind that the extended repayment schedule is not advised in all cases as it will levy more money as interest. Hence a planned and intelligent strategy will be the best way to pay the student loan easily.
ReplyDeletehttp://studentsblog2.blogspot.com/2009/11/ways-to-pay-your-student-loan-easily.html