As tuition rises, students are resorting to larger and larger loans to continue their education. However the government continues to limit how much money it will loan students. As a result, more and more students are resorting to private personal loans to finance their education.
The problem is these private personal loans often carry much higher interest rates sometimes reaching credit card proportions. When these loans come due, many students are not earning enough income to cover their payments, forcing them into a bad debt hole.
The complete story along with tips on how students can protect themselves from future bad debt can be found in the following article in the San Francisco Chronicle: Click here
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bad credit: lack of confidence in a purchaser's ability and intention to pay, displayed by entrusting the buyer with goods or services without immediate payment.
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