Shocking American Student Loan Scams - How To Spot Them
- By:Jake Madden
Looking for an American student loan? You could be caught out if you're not well informed about what scams are around and know how to avoid them.
I'm Jake and I got stung badly, this led me to do some research and what I found was shocking.
Did you know that statistics prove that the big student loan companies are acting illegally and you could be trapped in their net. There is a monopoly operating with kickbacks to educators who provide them with more opportunities to secure loans.
Do you know that only 32 lenders hold an amount of 90% of the massive $85 billion student loan business. At approximately 300 colleges just one lender controls nearly the total market to the amount of 99% of all loan volumes.
Many student don't know that they don't have to go through there school, you can get better rates and more competitive conditions shopping around.
I want to share my advice and tips on how to avid the scams heres what to look out for: One of the biggest traps that many students find themselves in is when they are unable to pay loans back as soon as they graduate.
They do not know of the options called forbearance and deferment. These methods offer you ways to postpone repayment. As a borrowers you may need temporary forbearances to make a major purchases until you can catch up with their debt. Do you know that many lenders will cancel discounts? Yes, when a student goes into forbearance or deferment. So anytime you are offered a benefit you need be sure to ask about the loan limitations. It's a fact that many lenders will not offer the details of the loan or the fine print. They only offer this up if asked, even then you will have to get them to be really clear and get marketing material without the spin and legal jargon, it's increasingly difficult to get clear concise financial details and information. I really do sincerely hope this information gets your mind ticking over and gets you into action. I also hope it provides you with a few tips and some good American student loan scams advice to think about when getting your student loan.
To get more advice and information on American student loan scams or general student loan information, click on www.american-studentloan.com
Written By: Jake Madden