Ace News Desk,
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When it comes to spending other peoples' money, student loan executives have put in enough credit hours to earn a PhD.D. While college students were busy becoming tomorrow's doctors and lawyers, these predatory execs were learning the art of falconry and studying their 4,000 gallon shark tanks. These and other extravagant expenses are being funded from the pockets of today's college students, a new release from consumer advocacy site CreditCardAssist.com reveals.
Currently, the total student loan debt is sitting just atop $1 trillion, with numbers only expected to grow. These loans are, for the most part, unregulated – people who don't even qualify for a credit card are able to take out loans in excess of $100,000. “This is legalised entrapment,” says CreditCardAssist.com founder Bill Hazelton. “These lenders are fleecing a bunch of students who don’t know any better and couldn’t do anything about it even if they did. Something needs to change, and soon.”
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