Student Debt Lawsuits Are a Lucrative Business

Re:Student Debt Lawsuits Are a Lucrative Business by kharms on Tuesday November 14, 2017 @10:44AM (#15695974)

>Student loans are originated without regard to credit risk, at the same interest rate for all borrowers.

That's not entirely true.

For undergraduate students, no more than $57,500 can be loaned from the government at a fixed 4.45% APR. This is what you're talking about.

If you need more than $57k (which you would even at most state schools) you need to get a private loan. Private loans have variable APR based on your and your cosigners credit history. Sallie Mae offers loans with an APR between 5.74 and 11.85.

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Re:Student Debt Lawsuits Are a Lucrative Business by tudelo on Tuesday November 14, 2017 @12:25PM (#15697113)

A fixed rate that changes, right? None of my loans ever had the same percentage as the year before. Small point though.

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Re:Student Debt Lawsuits Are a Lucrative Business by EADGBE on Tuesday November 14, 2017 @03:25PM (#15698775)

Federal are fixed, private are often variable.

Also, not sure about the 4.45%. My federal are more than that.

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Re:Student Debt Lawsuits Are a Lucrative Business by tudelo on Wednesday November 15, 2017 @08:29AM (#15703561)

Hah right, a fixed loan rate which is fixed for the life of the loan. I mean that the fixed rate at which they lend changes every year :)

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