As a leading youth advocacy organization, Young Invincibles appreciates the opportunity to respond to question one of the Request for Information Regarding Complaints from Private Education Loan Borrowers. Many young people who took out private education loans as a means of financing their postsecondary education – often without a full understanding of their alternate options or their loans’ terms – and are now attempting to make good on the investment they made in their future. However, given difficult economic conditions and high loan balances, many find it challenging to keep up with payments. At the same time, both struggling and financially secure borrowers face difficulties when interacting with their private lenders.
YI Comments on Private Student Loans
Dear Ms. Jackson:
As a leading youth advocacy organization, Young Invincibles appreciates the opportunity to respond to question one of the Request for Information Regarding Complaints from Private Education Loan Borrowers. Many young people who took out private education loans as a means of financing their postsecondary education – often without a full understanding of their alternate options or their loans’ terms – and are now attempting to make good on the investment they made in their future. However, given difficult economic conditions and high loan balances, many find it challenging to keep up with payments. At the same time, both struggling and financially secure borrowers face difficulties when interacting with their private lenders.
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