Private Student Loans: The Rise And Fall (And Rise Again?)
They're less common than they were a decade ago, but still the most expensive and riskiest way to pay for college.
Five billion dollars in outstanding private student loan debt may be forgiven because of poor record-keeping by financial companies, an investigation by The New York Times found this week. Loan balances are being erased and lawsuits thrown out because the loans were bundled and resold, like the subprime mortgages that precipitated the Great Recession, and the loans' current owners are struggling to prove in court that they're collecting the right amounts from the right borrowers.
Private student loans, unlike
