Student Loan - Loans and Debt Consolidation

HOW BANKS SWINDLE STUDENT LOAN MONIES BLACK STAR NEWS

Date: February 17th, 2010 Name: Jeff Futrell Subject: Need More Education Desire Among Ethnic Minority Students Comment: Mr. Benjamin, you forget or ignore real issues about college costs, by putting the blame on banks. Most minority students with a lower education do not attend a 4 year or higher university, The students at universities have an average of 10% receiving $2,000 in scholarships. Governmenht Pell grants are often obtainable to only 12% at the universities. Personal savings and especially student loans, many with a 25 year payoff is the only way they can attend. Many minorities attend vocational/technical schools to often study bar tending, massage or secretary. Of course the government pays almost the entire cost with grants and scholarships. Plenty of other cash scholarships are obtainable. Here is a minor problem at these private for-profit mini-colleges. $1,000 may be left to pay, but the school, not a banker provides the loan. Sometimes it is at an 18% interest rate. The main problem is desire. The study effort and encouragement. From these small education schools only 33% are graduating. We need minorities to become engineers, doctors, computer programmers, and the like. The purpose of higher education is to make a higher income to change their familys environment. Minority students, and those of low incomes do not need more funding. People like you need to educate them on values, not complain about the funding pie, which already is a one sided scale. Ed...[more]