Hi!..I’m in the same boat as other student loan borrowers. Here’s what you need to know…The Student Loan “System” was privatized in 2005 and deregulated, therefore is not subject to the FCRA.
When researching the history of the program, I was dismayed to learn that it is the only loan program that automatically attaches a criminal stigma.
According to DOE regulations, you can apply directly to the Secretary of Education for special loan payment agreements. I’m looking into that now.
Also, public colleges and universities are no different than public K-12 schools and by law, they cannot charge taxpayers anything but a nominal fee to use a taxpayer funded service. S.C. State University is the only institute that lists “Tuition: $75” and “Fees: $2397”…It’s the added “Fees” that is the discriminating factor and I’m sure those fees are waived for wealthier students.
I hope we can make progress on this, but as a former U.S. History teacher, it’s not likely to happen. Our mistake is not reading the fine print.