College Loan Scandal
Did you ever stop to think about just how many college students take out loans to pay their tuition for colleges and universities? A large portion of students take out loans from different lenders each year to satisfy the cost of their education. However, student loan officials from many different universities, including the University of Pennsylvania, are under investigation for steering students into taking loans out from certain company's that inflate the prices of the loan. The officials receive kickbacks and incentives from these companies for telling the students to take a loan out from them. Some schoools have even reimbursed students for this fraud, one school at $3.27 million.
I think that this is absurd. It is hard enough to pay for college tuition at the regular price and with inflated loan prices, the officials are becoming entirely too greedy. I do not think it is rational for someone that calls themself an official to be stealing money from students, mostly teenagers, that are trying to get a good education.
3 comments:
Question. Yes they are being looked into but is it illegal for them to get kickbacks? If it's not under the table, aren't they paying them for a service? Sort of like a regular job?
I think this is ridiculous! Really how do they expect us college students to pay all that money back with inflation. I also find it is cazy the schools are trying to give their students these loans.
This is how banks and credit card companies make money. They give you a large interested rate and they bank off it. In my opinion though if a student pays attention to there finances they could tell what loans are the best for them. If not the students maybe even the parents. If you could get more money by giving a loan to someone who doesn't even look at the rates wouldn't you?
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