Student Loan FAIL: Why Sallie Mae Is Not Your Friend

Courtesy Digg - Business & Finance  Thu, 05/21/2009 - 10:30

College students who think they are getting a federal loan have been finding out too late that they hold a private loan.

And private lenders often fail to detail loan costs and even deceptively present themselves as part of a school's financial aid office.

The difference can be extremely costly: 7% vs. 18.5% from private lenders.

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