Student Loans: Malpractices. Frivolous Lending, Helpless Lendees - Research Paper Example

Only on StudentShare

Extract of sample
Student Loans: Malpractices. Frivolous Lending, Helpless Lendees

Growth of student loans has been very noticeable yearly. Chart A shows the uptrend since the year 2000. Chart A In 2008, the number of borrowers in default of their monthly amortizations had accumulated $ 60 billion worth of default, according to Jen Haley (money.cnn.com), “about 2% - 4% of delinquent student loan debt is owed by students abroad”. That means they left the country to avoid debt payment they felt they could not afford. But Alan Collinge had written a book in 2009 describing student loans as the most oppressive debts. From actual experience of regularly paying his own student loans, he discovered that his account had been charged penalties for late payments each month even while he paid on schedule. He asked for the removal of those unwanted penalties by Sallie Mae. But that lender refused to do so. In his research, he discovered what appeared to be a scam in the Student Loan Industry. There was “lack of consumer protections…beneficial for student loan companies” (A. Collinge, 5) resulting in Sallie Mae’s $920 million profits in 2005 or a 228% increase in profits compared to the year 2000. The bulk of profits came from penalties charged to students. A review of this book by A. Collinge was made by Frederick S. Goethel, author of Legalized Loan Sharking Courtesy of Congress. ...Show more

Summary

Student Loans: Malpractices, Frivolous Lending, Helpless Lendees 1.Introduction As of 2012, a research (H.C. Whisett, 1) discovered that there are 37,000,000 Americans with outstanding student loans. Over 7,000,000 USA students borrowed from the biggest student loan provider, Sallie Mae…
Author : kennawillms
Save Your Time for More Important Things
Let us write a custom research paper on your topic
"Student Loans: Malpractices. Frivolous Lending, Helpless Lendees"
with a personal 20% discount.
Find out more

Related Essays

2008 Economic Crisis in the U.S. and media connection
2008 ECONOMIC CRISIS IN THE U.S. AND MEDIA CONNECTION The United States of America was founded on the principles of democracy, freedom and a dream where any citizen has the opportunity to pull themselves up by their bootstraps to make a good life for themselves and their families.
9 pages (2250 words) Assignment
Films as Essential Tools of National Historical Analysis
These issues may be meant for entertainment purpose as well as educative purposes. It is essential to note that films usually carry societal connotations (Guynn 127). They depict the desires and pains of people within the society. They capture lifestyles, cultures, and political issues, social and economic issues among others.
8 pages (2000 words) Research Paper
Journalism - The Economic Crisis
The crisis not only affected people in the United States, but was felt by people all over the world. The interview I conducted revealed people’s feelings about the crisis and it showed how people reacted to the crisis by cutting down their budgets (Jickling).
5 pages (1250 words) Research Paper
taxi of the dark side
These are some of the issues, which have been documented by various media houses in the world. At the same time, there are various movie producers who have sought to remake the events, which are happening in the war-torn country each with the intention of pointing out some of the relevant issues, and on the other hand, there are those who do the same for bringing about entertainment.
4 pages (1000 words) Movie Review
Outline and critically evaluate theories of globalisation in communications.
Globalization is the expansion of economic, social and political activities of one region so that these activities have impact on people and their way of life in a different region of the world which can be miles away (Stohl 2004, P. 223). Globalization is a process of expansion of communal association across the world (El-Ojeili and Hayden 2006, P.12) as a result of lenient bylaws and enhanced communication in both public and private sectors.
13 pages (3250 words) Essay
Public Relation Writing
In today’s highly complex and fast changing global business environment, intense pressure from rivals sets the pace of newspapers and any delay in relaying information constrains profits. Businesses all over the world are keen to take advantage of newspapers as corporate strategies to market both themselves and their products and as such, they often pass what could be described as ‘fake news’ for publicity purposes.
5 pages (1250 words) Assignment
J.S. v. Blue Mountain School District and US v. Michael Anthony Marcavage, Appellant
The first case is J.S. v. Blue Mountain School District. The case was filed in 2007, and the appeal was decided in 2011 in the Third Circuit. Blue Mountain Middle School was a school in Pennsylvania and J.S. was the name of a student. The second case is US v.
3 pages (750 words) Essay
Personal life mission statement.
Definitions Being the true follower of Christian faith, I strictly adhere to the code of moral ethics described in the Holy Bible. These moral principles include truth, justice, compassion, sacrifice, love, and humility.
4 pages (1000 words) Assignment
reading note 1
Rhetorically, it could be used as a décor. The presenter should also consider the audience’s knowledge of the topic. This will help them to know: Do you need to
1 pages (250 words) Essay
How to keep a romantic relationship in long distance via social media and phones.
Moreover, those who have undergone the tedious process of being away from their partner know how much of a hassle, maintaining romantic relationships with a person you cannot meet or greet
7 pages (1750 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT