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E Loan Student Loan TV Add

Date: Wed, 12/26/2007 - 08:09

Submitted by Frogpatch
on Wed, 12/26/2007 - 08:09

Posts: 5381 Credits: [Donate]

Total Replies: 4

E Loan Student Loan TV Add


There has been an add running on National TV lately that is directed to students that are aready in college and may need extra money for additional expenses. Up to 40K per year and no payments until after graduation. This to me looks like a snare waiting to be sprung. How many students will consider partying part of their additional expenses. The add say you will get the money with in a week. After graduation they will have not one but two loans to pay back which could total their entire paycheck for years. Anyone have any knowledge of E-Loan and how they operate?


I have seen them and they are just too scary for words. It is going to turn the private student loan industry into another sub prime mortgage fiasco. Kids are going to run thru their fed loans and think "wow, I can borrow $xxx without mom and dad knowing!"

The TV ads make these look too darn easy.


lrhall41

Submitted by SOAPLADY on Wed, 12/26/2007 - 08:30

( Posts: 17315 | Credits: )


You are spot on soaplady....where I work ( a bank, we originate student loans too) we have had to turn to private loan products due to the reduced margins in the FFELP program....due to the recent legislative investigations and changes. I have seen what is required to get the loans and you could be a student with decent credit and get the $40k no problem....sent right to you.


lrhall41

Submitted by volleyballmom on Fri, 12/28/2007 - 08:38

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