As the Consumer Financial Protection Bureau gets ready to crack down on payday loan providers, a growing number of online lenders are promising borrowers with bad credit a fairer, less expensive emergency alternative. Many of these lenders insist they’re not…
If you’re struggling to build or rebuild your credit, you may want to look into obtaining a small dollar loan from a nonprofit lender.
The television commercials promising college degrees or professional certificates fast are hard to miss. The smiling TV actors offer assurances of future economic security and success. But might these programs really be subprime mortgages disguised in academic regalia?
Schools like University of Phoenix, ITT Technical Institute and a host of others are part of the growing for-profit education sector that might the next industry to crash, burn and drag us all down with it, according to Steven Eisman, the investor famous for predicting the subprime mortgage crisis that set off the recession.
The glaring similarity between the subprime mortgage business and for-profit education is the issuance of loans to people who cannot repay them.