- Owner: donnyshaw
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InformedGAvoter posted a bill
Student Loan Forgiveness Act of 2012. Congress Please support this bill.
InformedGAvoter added a comment
Private education loans are not eligible for consolidation. Federal loans, which are subject to oversight and regulation by the federal government, include:Direct Loans, where the U.S. Department of Education is the lender; Private loans, sometimes referenced as “alternative loans,” are offered by private lenders and do not include the benefits and protections available with federal loans. Unawares of these deceptive loans, unsuspecting, not too knowledgeable college students get loans from Loan Sharks like Sallie Mae. Borrowed $13,000 in 2002 and now owe $33,000 to Sallie Mae for that loan. There is no relief for those caught in the web of these loan predators. Congressmen and Congresswomen, please help pass the Student Loan Forgiveness Bill which will allow for the consolidation or refinancing of Private Student Loans which are not otherwise cancel-able and don't offer any options to students trying to enter into repayment.