<p>This is unbelievable. Student loans now surpass credit cards in total debt. Everyone thinking about large student loans ought to understand what they are getting into.</p>
<p>The</a> Student Loans Scheme: a Gateway Drug to Debt Slavery</p>
<p>Student loans are unlike any other loans in terms of what protections you get and what the consequences are if you miss payments. Ready to be treated like a criminal the rest of your life?</p>
<p>Truth in Lending Act is part of the latest federal loan regulations. The regs are very stringent for TILA/student loans. This is now in effect.</p>
<p>It’s not exactly like being a criminal, digmedia. Most students never wind up desperately trying to swallow cocaine-filled balloons that they couldn’t flush down their toilets before federal agents make their way down the hallway of their dingy apartments and beat them unconscious with their barricade shields. Sallie Mae’s loan repayment program, for example, is often a lot less physically exhaustive than that.</p>
<p>The point is important…too much SL debt can cause one to become a slave to the debt.</p>
<p>This is worse than being a slave to a big mortgage because you can always sell your house.</p>