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In reply to the discussion: RULING ON LAW SCHOOL GRAD'S DEBT MAY SIGNAL 'SEISMIC' SHIFT IN LOAN PRACTICES [View all]My original loan balance when I graduated was $35k (U of WI) back in the 90's. I've been paying - with a few deferments here & there while getting started in my career and raising my daughter on my own. All total by now, I've paid back the original $35k but because of all of the interest that was compounded and re-charged interest on, and the loans bundled and sold a few times over, according to Great Lakes Servicing, I owe $92,000.
How in anyone's understanding of math do you pay off a loan and still owe triple the amount you started with?!?!
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RULING ON LAW SCHOOL GRAD'S DEBT MAY SIGNAL 'SEISMIC' SHIFT IN LOAN PRACTICES [View all]
Liberal_in_LA
Mar 2016
OP
I can't see where Citi has a leg to stand on here, frankly, but I agree this is a narrow part
Recursion
Mar 2016
#8
Blessing in disguise? I was all set for law school but was informed that
Land of Enchantment
Mar 2016
#28
They sell these law school candidates on the $130,000 start and $40,000 bonuses at
alcibiades_mystery
Mar 2016
#11
Furthermore, once upon a time it was possible to work your way through school
groundloop
Mar 2016
#17
Right...they don't get to mitigate their risk BOTH with higher interest AND non-dischargability!
alcibiades_mystery
Mar 2016
#13
Next financial bubble to burst: student debt credit default swaps.
Dont call me Shirley
Mar 2016
#30