Arne Duncan Transcript: Some For-Profit Colleges Have “the Ethics Of Payday Lending”


Fast cash advance payday loans reviews - American cash advanArne Duncan: Thanks all of you for taking the time. I’m going to be quick and hand it off to Ted as he and his team have just done extraordinarily hard and important work. But here’s a couple of quick thoughts before I give it to him. Obviously, we’re here to talk primarily about debt relief for Corinthian College students. And many of you like us have heard stories from students who have simply had a terrible experience at Corinthian. You have to be made of stone not to feel for these students. Students everywhere deserve and need the opportunity to make their lives better through education – to climb the economic ladder. This is a process that is going to require a lot of information on your part. First of all, you have to know what kind of loan you are looking at, and how much money you are going to need. Next you have to be sure that you are going to be able to pay back the loan, so you have to know how much you want to make payments for. Also, you have to be able to tell the bank what you need the money for, how much money you need, and how you are going to pay them back.

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Do you need financial assistance, but fears of adding to your debt by obtaining a loan? Financial aid does not always mean that you need a loan. MR: Exactly, and the culture now uses music for function, you know, for working out or playing sports or background ambiance.

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Reward yourself and even your family every time you reach a goal whether it is long or short-term. Success needs to be celebrated to keep the momentum going. Once you are out of debt, stay that way! You don’t need to cut up your credit cards. That will actually hurt your credit score.

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