Senator Bob Casey Speaks About the Need for Student Loan Refinancing Reform

Thank you Senator Casey. Another problem people over look is that when an individual has been paying back their loan for awhile, then suddenly loses a job and has difficulties gaining employment for quite awhile….that student loan accrues interest. A person can literally be paying and paying and then find they are back to Square One with their debt due to hardship. I think this is the WORSE part of this entire debacle. An individual might start out with $30K and over the years accumulate another 25K in interest. This is a BOOT ON YOUR HEAD for the rest of your life. It is NOT freedom.
The U.S. Department of Education is actually making out like a bandit and has absolutely NO INCENTIVE to stop this scam.
Donald Trump has filed for bankruptcy something like 3 or 4 times! Yet, a student in hardship has to PROVE they cannot repay, and FEW ever are discharged from their debts.
Also, when a person reaches retirement with a load of student debt, even if it is finally “written off”, the Government can come after a person’s “estate” after they die.

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