The House Education and Labor Committee listened to New York Attorney General Andrew Cuomo for two hours as he proposed major reform in the student loan industry.
During his testimony, Cuomo . . . cited a passage from an unnamed lender’s sales manual as evidence of predatory lending practices within the private lending sector, which has long been the “Wild West” of the loan industry.Student lending practices are one of my pet peeves. We give these predatory lenders legal preferences far beyond anything they deserve. In return, they push unnecessary debt on our children that for most practical purposes can't be discharged in bankruptcy. Read the article posted by Damien Weaver linked above.
