Letter: Student Loans

A letter on Saturday berated those who seek help from the taxpayers for their student loans. The reason student loans should be re-evaluated is because many private colleges have always been a rip-off by ruthless schemers who falsely promised careers when they were actually scamming loan programs and targeting unsophisticated kids who couldn't afford college. In earlier days, I invested in private school stocks, followed them, know exactly what they represented: profits. I ate lunch with the sharks who owned and managed them. I had acquaintances who taught in them despite being completely unqualified. Can you say Trump University? Sadly for me, someone dear to me signed up for large student loans without consulting me. Result? Two huge adjustable rate loans at 6 3/4 %, now climbing ever higher as rates rise. Crushing for someone who might have fallen for an oily sales pitch instead of sincere guidance.