Colleges Withhold Transcripts From Grads in Loan DefaultQuicklink submitted by Amanda Lang Permalink
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|The growing tsunami of student loan defaults is more than a series of personal tragedies. It is killing the dream of many low-income students who saw college as the best chance to rise out of poverty, only to find that after borrowing heavily to pay for school, they cannot get the paper needed to document their accomplishments, cannot get a job and cannot even declare bankruptcy to escape their plight. Congress, after pocketing wads of bank lobbying cash, made it all but impossible to use bankruptcy to escape student loans, requiring a court finding of "undue hardship"--an almost impossibly high legal hurdle...But with these policies, they aren't really helping these students... They are helping the banks who have a monopoly in the student loan business. Sheeple to the slaughter.|
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