CSPAN Capitol Hill Hearings January 13, 2012
cases cannot be discharged in bankruptcy. the federal loan debt that can occur from the stafford loan, usually does not pay for the cost of a university education, so you end up getting private student loan debt from banks. banks are not regulated like the federal government, were the m.a.c. chairman -- with a maximum interest rate is 6.8%. on a plus loan, you are looking at 7.9%. bank loans have the ability to go to 15, 18, 19%, and the u.s. government bankruptcy laws protect those banks. so the banks can screw you with the interest rates that are charging you, and you do not have a...
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