You know Sallie Mae is always broadcasting on how they want to help students but that's a setup. They issue us all this money for us to attend school we get our degrees and then can't get a job. They give us six months and then start hitting us with payment request. Ok people this doesn't make no sense. How can you get a job if you don't have the experience. Students are automatically setup for failure as soon as they get the student loans. What are you guys opinion about sallie mae and there crazy loans. Looking forward to your responses. Have a great day.
It isn't just Sallie Mae. Look at the "For Profit" universities (University of Phoenix, online, Strayer University, etc.) To me, they are scam-worthy. The requirements to get in are something like, "Can you breathe? Are you a human? and Can you get a governmental loan?" Then, they stick students with an un-payable debt. 60 minutes or some such news show did a story on it in the last year. It is outrageous. You are right. And college students are the least well informed about how to manage money. This is why my husband and I have already committed to saving and paying for college for our kids. We are currently student loan (and other debt) free because of a similar gift from our parents. It has made all the difference in the world for our current sense of success.
Ten years ago, I worked in the industry, helping people getting caught up on their loans. I would talk to people with loans that were twenty years old, and they were still paying. Most people don't know that student loans almost never go away, they usually can't be disposed of in bankruptcy. Also, iirc, the interest keeps accruing, and it doesn't accrue on your balance, but on the original amount that was borrowed.
This topic about student loans is actually scary, and something that I have feared since I started back to college two years ago. I have student loans that just keep racking up, and I am starting to notice that the University that I joined is not exactly what I thought it would be either. It is an online school that I thought would be perfect since I could make it bend around my already busy schedule. Weekly we do discussion boards for each class, and half of the people who post on them cannot make a complete sentence. How are they in the advanced classes when they do not know basic grammar? This is all just very Scary, and to top it off, when I finish school I will be over 40k in debt because of the student loans.
It's definitely not all about Sallie Mae. It's the idea as a whole. I don't think it's the loan companies' faults for offering us the loans, especially when they're at low interest rates for education. I do think that college is too expensive overall, though, and that we're starting to sway back away from degrees being a requirement for a good job.
