New details unsealed last month in the state lawsuits against Navient shed light on how Sallie Mae used private subprime loans — some of which it expected to default at rates as high as 92 percent — as a tool to build its business relationships with colleges and universities across the country. From the outset, the lender knew that many borrowers would be unable to repay, government lawyers say, but it still made the loans, ensnaring students in debt traps that have dogged them for more than a decade.


ButterflyEffect:

lol fuck finance and economics. I don't really know what else to say at this point, everywhere you look are people being screwed over by entities that are barely even punished.

$150k for a photo degree is pretty fucking stupid too though so who knows.


posted 974 days ago