Debt Collectors Cashing In on Student Loan Roundup

Re:Debt Collectors Cashing In on Student Loan Roundup by rjbond3rd on Sunday September 09, 2012 @11:16AM (#4495976)

> Where's the informed consent...?

Actually, it exists nowadays. Students (in the US) receiving loans are required to complete a loan counseling session, which covers the pros, cons and responsibilities of student debt.

However, this is a relatively recent development that probably wasn't around for the people in the article.

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Re:Debt Collectors Cashing In on Student Loan Roundup by king_jester on Sunday September 09, 2012 @01:16PM (#4496290)

In my case, my loan "counseling session" was an online form I had to complete to unlock access to certain features of my online college account software. You do not get a sit down with someone to tell you about what you are getting into before you start. Even if you can get a person to talk to, we are seeing that lots of hand waiving and outright dishonesty is being used to propagate loan profits.

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Re:Debt Collectors Cashing In on Student Loan Roundup by noahc on Sunday September 09, 2012 @11:52AM (#4496048)

I was in school from 2004 - 2009 and took out modest student loans, about $11k total, and never experienced any of this.

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