Re: more truth, U.S. caught faking student loan default numbers

My experience with repaying student loans, 30-some years in the rear view as it may be, was that the Penn-based loan agency I utilized turned out to be the most diligent lender that I have ever dealt with when it comes to the sustained effort it put forth in maintaining contact with me during the period when was "in arrears" and I flirting with defaulting; they tracked me across five relocations spanning q Penn, Ohio and Florida. As far as collectors go, they simply would not allow me to fade away into default. And they did it professionally albeit sternly but did not resort to the use of thuggery or common legbreaker tactics the way many collectors - the IRS generally being the established boiler plate role model for such - have for years been given sanction in the course of leaning on debtors to encourage repayment. Fortunately I eventually landed a better job that paid good-enough to allow me to support my modest lifestyle as well as bill payments, the period passed and I repaid the loan in full.

As far as what passes today in the student loan industry, I do not know due mainly from getting old and having grown disconnected from that younger persons endeavor. From what I do know about the industry of grown stated-educated children pursuing higher education, coupled with some of the stats cited in John's post, I get the impression that the design of today's student loan bubble is not unlike the that of the mortgage home owner bubble fiasco from 10-20 years ago. Back then, at one end of the spectrum were honest, hardworking debtor's struggling to do their due in hanging on to their dream, at the other end were unemployed, woefully unqualified slackers living large, for a while, and repaying small to nothing, for a while, until their bubble burst. No doubt there are parallels between the latter and former. What the majority of these kids do after the college days and loaned funds run out, other than hanging out, texting and flash - mobbing, I do not know.