The Sad Truth About Student Loans: They're Not Really Loans

The quagmire that is student loan debt has finally surpassed credit card debt in America. We’ve heard a lot about what this level of debt means to college graduates, drop-outs and families but now we’re going to dig a little deeper into the “loan” part. What a student signs up for looks, feels and sounds like a loan…but doesn’t fine-print like a loan. Decisions made by congress in recent decades have rendered traditional loan safeguards such as bankruptcy filing, inaccessible to borrowers. David Dayen is a freelance writer and contributor to salon, where we found his article, “Your Student Loan Isn’t Really a Loan.”