Students, families struggle to repay billions in crushing loan debts
Steve and Darnelle Mason made national headlines back in 2014, through their campaign to reform a student loan system that left them with six-figure debt following the death of their 27-year-old daughter, Lisa.
Four years later, the Masons say that despite their best efforts, they're now even worse off, thanks to private student loans that add up to more than $10 billion of financial stress for students and their families across the country.
These private loans make up just 11 percent of an estimated $106 billion in student loans across the country, according to StudentDebtRelief.com . But unlike federal student loans, which tend to cancel debt in the case of the borrower’s death, many of these private loans are far less forgiving of personal or financial hardships.
http://www.foxnews.com/us/2018/09/0...to-repay-billions-in-crushing-loan-debts.html
Steve and Darnelle Mason made national headlines back in 2014, through their campaign to reform a student loan system that left them with six-figure debt following the death of their 27-year-old daughter, Lisa.
Four years later, the Masons say that despite their best efforts, they're now even worse off, thanks to private student loans that add up to more than $10 billion of financial stress for students and their families across the country.
These private loans make up just 11 percent of an estimated $106 billion in student loans across the country, according to StudentDebtRelief.com . But unlike federal student loans, which tend to cancel debt in the case of the borrower’s death, many of these private loans are far less forgiving of personal or financial hardships.
http://www.foxnews.com/us/2018/09/0...to-repay-billions-in-crushing-loan-debts.html