stltoday.com
July 22, 2012 12:00 am
BY DANIEL WAGNER
Associated Press
WASHINGTON • Risky lending caused private student loan debt to balloon in the past decade, leaving many Americans struggling to pay off loans that they can't afford, a government study says.
Private lenders gave out money without considering whether borrowers would repay, then bundled and resold the loans to investors to avoid losing money when students defaulted, according to the study released Friday.
To read the rest of this story, visit St.Louis Post-Dispatch.
