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FAP869: College costs, usury, Stafford loan caps

 
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Hauran
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Joined: 30 Apr 2006
Posts: 6924

PostPosted: Tue Aug 26, 2008 3:35 pm    Post subject: FAP869: College costs, usury, Stafford loan caps Reply with quote

+ If a lender charges above the lawful interest rate, a court will not allow the lender to sue to recover the <b>debt</b> because the interest rate was illegal anyway. In some states (such as <b>New York</b>) such loans are voided ab-initio. <b>...</b>

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