Business
Student Loan Nightmare: One Borrower’s Struggle to Find Relief
Stacey Tisdale, BLACK ENTERPRISE
(BlackEnterprise.com)—One of the four directives of the Student Aid Bill of Rights President Obama announced this week says every student in America should “Receive quality customer service, reliable information, and fair treatment when repaying loans.” “…we are committed to finding new and better ways to communicate with student loan borrowers and to creating a centralized, easier process for repaying loans,” adds the Department of Education.
The President, and others in Washington who have been pushing for this reform must may have had people like Bridget Butler in mind.
In 1994, Butler was able to secure about $20,000 in Federal Stafford Loans at a rate of 8.25%. She used the money to go to nursing school in southern California. This was a return to study for the former University of California (Los Angeles) chemistry major, who left UCLA in 1993 in order to have a child.
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