Boat Loan Finance Company
At what point the student loan companies to be regulated …. sign naive teenagers in bondage?
I think at least they should put a limit on the interest, perhaps 9% for 4 years and then have the interest to stop completely, as someone who can never repay the debt so perpetual? Read this history, probably more than 20,000 people are in the same Boat …. so why are they getting away with this, and what can students (former students do)? http://finance.yahoo.com/college-education/article/109701/placing-the-blame-as-students-are-buried- in debt? mod = edu Rose collegeprep Sorry to say but "God" had nothing to do with the creditor … the creditor operated out of greed and wanting to make a profit. The only "God" here is the money …. sorry to break you.
Do you think they are not regulated? There are hundreds pages of legislation governing the loans in general, unsecured loans and student loans in particular. Do not lend money if you we do not like! Banks are companies that are in business to make money tp. That's what they do! They do not owe you anything. I hear people whining how terrible is about free enterprise – we had free enterprise in the country for more than a hundred years. The government intervenes in the free market with regulation imprudent (eg, the Community Reinvestment Act), screws things completely (mortgage crisis) and then asserts that the only solution is more regulation. Dumbazzes.
