Student Loan Charity Under Fire | CBS News

Stephen Burd

March 2, 2009 |

“These are absolutely not charitable terms,” said Stephen Burd, of the New America Foundation. Burd says Educap charges up to 18 percent interest - triple the government rates and as much or more than for-profit companies. He's heard from dozens student borrowers who complain about costs and aggressive collection tactics, who advise to avoid this company because it is predatory lending. ...

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