Posted by: danielharan | July 23, 2007

RIP: CIBC student loan

My student loan is no more. From $30,000 nearly 10 years ago, it got paid in lump sums as I settled with collection agencies.

They could have waited for me to get out of school before asking payment. They could have let me pay it off in monthly installments. Some bureaucratic barf-up ensured I never would have the benefit of such sensible policies.

After some phone calls from a collection agency, I would wonder if the banks really didn’t do this on purpose. They could point to default rates to justify the need for more money, as well as justification for more market-oriented policies towards students

I’m not likely to go into debt for schooling ever again. No one should have to leave school with $30,000 in debts.

Next time I hear about students striking against tuition increases, I’ll be cheering.

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