> It's predatory lending and I don't think 18 year olds are financially literate enough to see the consequences of paying off student debt. Very true - I bet that happens a lot - feels like they got "free money" until years later when the loans come due. >The interest rate was dogshit and it fluctuated often. I absolutely believe student loans should be interest free, Agree but that kind of defeats the reason they got off the ground to begin with. It's actually pretty genius - as you say, they know in most cases the student isn't really going to understand what they're signing. I don't know how soon payback starts after graduation, but basically anything that isn't good for the student - can't find work, gets job but low pay, pays late etc - is a plus .to the loan,maker - every extension, every forbearance means thgat they earn more interest - and I've seen some real horror stories about that. And, as someone here stated - student loans can't be discharged via bankruptcy - holding the same status as the IRS - There's a reason for that.