A Ticking Time Bomb

Student LoansWhen it comes to receiving a college education most folks can agree that the charges can be staggering at best. In many countries, the rent is quite inexpensive, and Universities are NOT in the middle of no-exactly where (as noticed in USA, and so on), but in the middle of cities, exactly where the cost of a rent is far more affordable than student accommodations in USA, UK, and so forth.

It is certainly disheartening to note that a lot of banks do not stick to the RBI (Reserve Bank of India) and IBA (Indian Banks’ Association) suggestions in fixing the repayment schedule for student education loans to commence a single year soon after completion of the course.

This can be viewed objectively (objective reality) simply because despite the fact that not every student in school is facing the exact exact same situation we have information that proves that this social situation (staggering college debt place no degree or position to match paying it back) does exist and has grow to be a macro level social problem.

Individuals who default on their loans can get slapped with collection fees amounting to 25 percent of their loan balance, and they can be place in repayment plans that lead to their loan balances to go up because the payments aren’t being applied to the principal of their loans.

Needless to say, I refused to spend such an outrageous charge, so, UOP would not permit me to continue to be a Student at their fine educational establishment, They froze my capability to get even a copy of my Transcripts, and immediately sent my account to a collections agency, such outrageous behavior !!