The Student Loans Scheme: a Gateway Drug to Debt Slavery
This visually stunning and well researched infographic shows the dark side of student loans.
It claims that student loans in the United States now total $829 billion. Let’s put that into perspective. The payday loan industry collectively lends nearly $40 billion in short-term loans every year according to Gary Rivlin, author of Broke USA.
How did we get to nearly a trillion dollars in student loans? The infographic answers this question by looking at the history of student loans, the consumer protections that were stripped away and the harsh collection methods reserved for our students…
a WordPress rating system
The Shaft: How Some Companies Prey on the Poor
The Mint has an infographic about payday loans, bad credit cards and rent-to-own.
Although it’s a beautiful infographic and they host a vibrant discussion in their comments section, we thought that a few of their statements could be misleading.
In particular, the part about borrowers being poor and unsophisticated, the interest rate being 30% (it’s actually a lot higher) and payday lenders being deemed loan sharks…
a WordPress rating system