8 student lenders adopt reforms,

[joel123]

http://www.usatoday.com/news/education/2008-09-09-student-loans_N.htm?csp=34



"Eight student loan companies have agreed to adopt broad reforms following an investigation by the state of New York into deceptive marketing practices."

[raiden]

Wow...
What a sweet suprise - too little too late! I *AM* a student, and I know plenty of students already buried to their EYEBROWS in debt. Where is THEIR reprieve from deceptive marketing campaigns? Being the good consumer cows they are, they get NONE! It's the same behaviour that has DESTROYED the mortgage system, brought our economy to its KNEES - but hey, it's JUST the educational system in this case, right?
I, for one, am disgusted...

[JoeBoo]

Raiden, I can understand your frustration and outrage over these shenanigans. I must point out, however, that everyone signs their name on the dotted line BEFORE they get that all-powerful plastic. We have to be careful to read EVERYTHING before signing up for something, and from my OWN school experience, I know people often don't.
Why?
Lack of patience perhaps, or some ne'er wise idea that everyone is looking out for students, including creditors. It apparently doesn't ring a bell that free gifts, even a free IPOD, don't compare to mountains of debt. And for a while, it just hasn't been very cool, in this otherwise beautiful country, to be TOO smart. Would this mean that being "taken in" by someone is a badge of humanity, that you're a victim of the big guys like everyone else?
Or is it the psychology of instant gratification, as opposed to delayed gratification, followed by long term prosperity? - "BUT I WANT IT *NOW*!"
The point of going to school was SUPPOSED to be getting smarter in the "noggin" about things, including money.
May I suggest things aren't quite so clear cut?