In recent years, we've seen a major spike in deals that allow financial service providers to disburse federal financial aid to students through products like debit cards. These deals, which have raised serious concerns from consumer advocates, were shown to have significant risks for students.
It's that time of year again. Students and families are packing up their cars and heading off in pursuit of higher education. Here's some advice from a former college student: Visit the college bookstore before your parents leave.
The level of debt I took on for my degree was my choice, regardless of the consequences. But at the very least, students and families should be assured that the private loan products are fair and transparent.
These days, Sallie Mae doesn't seem to be focusing much on helping students find "the right student loan." Instead, the company is campaigning heavily against the Student Aid and Fiscal Responsibility Act.