A student loan is borrowed money, much like a car loan or a home loan, from a financial institution that needs to be paid back after graduation. Understand the differences between student loans and other types of loans withhelpful information from a financial aid officer of a university in this free video on education. Expert: Brooke Kramer Contact: www.argosy.edu Bio: Brooke Kramer is the financial aid officer at Argosy University in Salt Lake City, Utah. Filmmaker: Michael Burton
July 21st, 2010 at 8:23 am
The best way to describe a student loan is that it’s similar to borrowing money from the mafia. When you borrow money from the syndicate, you have to pay that money back and there’s no way to default on the debt. Similarly, you cannot get a student loan dismissed with a bankruptcy even if you think that college was a waste of money. If you don’t make your student loan payments then collection agencies will hound you for the rest of your life. It’s worse than “Saw V”.