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January 20, 2010

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Sloan

I am trapped in this Peaks loan through my "Private Collage". I am starting to believe this is all a scam to obtain more money out of their students. My loan was for $10,000., my financial aid advisor told me this was the smallest interest rate loan. My interest rate on the loan is 10.5% My interest cost me more than the entire loan itself.
I am in the midst of filing a Class Action Lawsuit against the school, as well as against the lenders who approve these loans with the astronomical interest rate.
It reminds me of the lenders who approved the housing loans for the people who were incapable of paying the high interest rate.
This stuff has to stop, students should not be punished for trying to make a better life for themselves.

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