Everyone Takes Out Private Student Loans

//Everyone Takes Out Private Student Loans

Sheryl S

Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

A common refrain that some financial aid officers use in order to soothe those who are worried about borrowing money to pay for their education is, “Everyone takes out student loans.”  As if this somehow means that there’s no need to worry about whether or not you’ll be able to pay them back or that there should be no concern about the incredibly high rates of interest that are attached to so many private student loans.  As if the fact that the vast majority of students these days need to turn to high-interest loans should serve as some kind of comfort.

In reality, these words should serve as an alarm.  They should be a red flag that the expense of going to school has become so high that only a very few can afford to do it without taking on student loan debt that will follow them for years, perhaps even decades, to come.  In fact, it’s the very people who should be counseling young students on the dangers of predatory lending that are handing them the documents needed to get these loans and encouraging them to sign on the dotted line.  It’s time that we demand to know why those who are in a position to save college students from a lifetime of debt are opting to promote the private lending firms instead.

Is it due to the fact that their job demands it?  What if they did inform students that high-interest private student loans often come with high minimum payments that few new college graduates will be able to meet?  Or that deferrals and income-based repayment plans aren’t usually options with private loans?  Is there a chance that the student they were counseling would opt not to attend their college?  How likely is that that student would choose to look at other, more affordable places to go to school?  In the end, there is a huge conflict of interest for those working in financial aid offices, since their own position could be directly influenced by a student deciding not to register at the school and their tuition funds going to another institution.

Perhaps it is time that we look for new ways to educate college students about responsible ways to pay for school.  A federal agency that doesn’t have a vested interest in where a student attends college might be a good place to start, but as it stands now, almost anything would be an improvement over the current state of affairs.

If you have questions or comments, please chat in the comments below or on the ChallengeStudentDebt Twitter handle.

If you feel you were defrauded by the school you attended or you are being treated poorly as a distressed borrower by your creditors, take the free challenge debt review to find out what options you have regarding your student loans.

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Hardship Relief


    Tell Us About Your Situation

    Hardship Form
    Sending

    By entering phone number and email you're acknowledging that you will receive communication from Challenge Student debt regarding your student loan relief options via text, email and phone.  Help is on the way.

    *Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. Challengestudentdebt offers enrollment in programs that best fits the consumers needs. Not all debts are eligible for enrollment; client must be in financial hardship to enroll. If client decides on enrolling in debt settlement, clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees. Fees are typically half of the monthly payment required by creditor. Maximum fee is 20% of debt enrolled, for a maximum of 24 months. Not all clients complete the program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. The program does not guarantee that you will be debt-free within a specific period of time. The company does not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating. The program may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated settlements the company obtains on your behalf resolve the entire account, including all accrued fees and interest. In addition the company will provide a contracted attorney if required.

    Or Call Now: 855-980-6818

    Privacy Policy

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Meet Attorney Binh Bui

    Binh Bui Private Student Loan Hardship Program
    Attorney Binh Bui, is an active member of the California Bar and has been involved in developing and managing debt relief programs for over ten years.  Over the past three years he saw that many individuals struggling with their monthly payments on their Private Student Loans were not being provided many relief options by their creditors and had very limited options for help.

    Because of this, he developed a Private Student Loan Relief Program for individuals going through financial hardship, creditor harassment and legal threats.  The program works to get individuals who qualify a significant reduction in debt, interest and payments.

    *the program developed by Binh Bui is managed by a company and is not a law firm.  Binh Bui is involved in that company

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Hardship Relief Based On Education Fraud

    Get Started With FREE Private Student Loan Review!

    fb form - challenge
    Sending

    Prefer Phone Review? Call Now: 866-605-7167

    By entering phone number you’re acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text and phone. Your information will not be passed or sold to any 3rd parties

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Hardship Relief On Your Private Loans

    Get Started With A Review Via Text Now!

    Name, Phone, Zip
    Sending

    Prefer Phone Review? Call Now: 855-980-6818

    By entering phone number you’re acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text and phone. Your information will not be passed or sold to any 3rd parties

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Relief Programs

    Get Started With A Review Now!

    site form - challenge
    Sending

    Prefer Phone Review? Call Now: 855-980-6818

    By entering phone number you’re acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text and phone. Your information will not be passed or sold to any 3rd parties

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Hardship Relief On Your Private Loans

    Get Started With A Review Via Text Now!

    Name, Phone, Zip
    Sending

    Prefer Phone Review? Call Now: 855-980-6818

    By entering phone number you’re acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text and phone. Your information will not be passed or sold to any 3rd parties

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Find Out If You Qualify For Hardship Relief Based On Education Fraud

    Get Started With A Review Via Text Now!

    Name, Phone, Zip
    Sending

    Prefer Phone Review? Call Now: 866-605-7167

    By entering phone number you’re acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text and phone. Your information will not be passed or sold to any 3rd parties

  • Sheryl S

    Sheryl believes education should be designed to advance someones skill-set without being burdened with large amounts of debt.She writes on the topic of education and the impact it has on our society.She has been writing for Challengestudentdebt.com for a little over a year.

    Start Your Student Debt Challenge Review

    site form - challenge
    Sending

    By clicking, “Start Challenge Review” you are acknowledging that you will receive communication from Challenge Student debt regarding your student loan options via text, email and phone. Your information will not be passed or sold to any 3rd parties