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The Student Loan Marketing Association, “Sallie Mae,” was formed by the federal government in 1972 to facilitate a secondary market for student loans. Now an independent entity, SLM Corporation is the largest lender and servicer of student loans in the U.S. As Sallie Mae made the transition...
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from other unsecured debt. In 2005, student loans originated by private companies — loans granted only to credit … the cost of consumer credit. Focusing on consumers' decision-making biases, opponents predicted that there would be no … discernible change in the cost of consumer credit or loan volumes. We develop and test theoretical models predicting the effects …
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Today, borrowers in courtrooms across the country are being sued for faulty or unsubstantiated private student loan debt. This is because predatory creditors are abusing the court system and intimidating people to pay debts they do not owe. The following report from the SBPC, the Maryland...
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The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Director of the Consumer Financial Protection Bureau and the Secretary of Education to submit a report on private student loans. This report addresses the following topics, as set forth in the Act:1) The private lenders,...
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