The student loan system is so complicated even the experts have trouble figuring it out
“Her experience underscores the challenges faced by the 44 million student loan borrowers across the country as they navigate the repayment process. The complexity of the student loan system, which includes both federal and private loans, a myriad of repayment programs with varying risks and benefits and severe consequences for mistakes, has left many student loan borrowers confused. Even more troubling, difficulty navigating the student loan repayment process often puts borrowers at risk of financial strain, according to a slew of government reports. Yu knows all of the finer points of student loan law and has had the ear of some of the country’s top policy makers on this issue, and yet she still had trouble getting the system to work for her. What’s more, she’s not alone; MarketWatch spoke to half a dozen student loan advocates and policy experts about the challenges they’ve faced navigating the loan repayment process. And if even they are struggling, where does that leave the rest of us?”