Reply to $100,000+ loan club

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Reply to "$100,000+ loan club"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Count me in. I pay about $1,200/month on my loans.  It sucks.  I think it should be against the law for lenders to charge interest on student loans while students are still in college as that made up the bulk of my student loan payments last year.[/quote]

Why?[/quote]

Because I don't think educational loans should be treated the same as a car loan or mortgage and it would be far more reasonable to allow loans to accrue interest once a student is out of school instead of penalizing the hell out of students while they are in school just because they have to take out loans to fund their education.[/quote]

So when you borrow money to pay for your first year of college, the lender basically lends it to you for free for the next 3.5 years?  More, if you go to graduate school immediately thereafter?  Good luck with that.  If is was made "against the law" one of two things would happen - best case scenario, student loan interest rates would skyrocket to make up for lost interest, or the private loan market would just dry up altogether. Neither of which is exactly a preferred outcome.

Seriously, people, think before you blather on about what should be "against the law."  [/quote]

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