Into the testimony throughout the father or mother loans in the a good You

Into the testimony throughout the father or mother loans in the a good You

In addition to the individual drama these loans do for most group, positives alert of possibility big damage to this new You.S. savings if waves from mother or father consumers default. Betsy Mayotte, president of the Institute away from Education loan Advisors, likens the trouble for the 2008 home loan drama, when many brand new-home borrowers mistakenly presumed that, in the event that a lender said it eligible to the mortgage, you to definitely required they might afford to pay back the debt. (more…)

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