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What makes private loans so bad?

xelda

By xelda
in Student Loans

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The last post in this topic was posted 6532 days ago. 

 

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xelda

xelda

Posted
Posted

I'm not going to deny that Federal loans are better than private, but I've seen people on here mention that private loans were a pain to deal with. Why?

 

If I read and understand the terms clearly, and I'm going into a field where I shouldn't have a problem keeping up with loan repayment, could it be that bad? Am I not seeing something?


LynnInMN

LynnInMN

Posted
Posted

!. High interest rates in most cases

2. Little to no forebearance priveleges

3. Little to no hardship payment plans

4. If you default, there is no rehab

5. Interest accrues from day 1

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