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Lenders Drive High-Interest ‘Back-to-School’ Loans on Moms And Dads Via Social Networking

Lenders Drive High-Interest ‘Back-to-School’ Loans on Moms And Dads Via Social Networking

Back-to-school season is a notoriously costly time for teachers and parents alike. However for loan servicing organizations, this time around of could be a moneymaker year.

An Education Week analysis discovered dozens of articles on Facebook and Twitter focusing on parents whom may need a “back to college” loan. Many of these loans—which are signature loans and will be properly used for any such thing, not merely school supplies—are considered predatory, specialists say, with sky-high prices and fees that are hidden.