Are student loans predatory?

[localjo]

My child and I filled out the FAFSA before her first year of college. We were told by multiple sources that every MUST fill out the form. She was offered an unsubsidized loan which we did not want. When we went to the aid office they assumed we would take the loan and we had to opt OUT. The loan would have been issued without us looking at the terms and conditions or signing anything but the FAFSA. The loan carried a 6.5% interest rate and payments were due immediately; that’s what unsubsidized means. Had we not been paying attention we would be carrying a loan we didn;t agree to. That seems predatory to me.

[zaytoven]

Hello, if you received a loan, you will be obliged to return it along with interest, no student loans are never forgiven, of course there are exceptions, but very rarely. Before you get a loan, you first get a pre-approval for a personal loan, by the way, you can read more about this in the article on newstart capital After that, you sign an agreement, which clearly states that you are obliged to return everything and in what time frame, and for non-return there will be bad consequences for you.