Misleading products often win when borrowers are not required to disclose the true cost of borrowing.
When borrowers join the bank, they open a savings account.
Major problems also arise when borrowers' circumstances change, it warned.
Neither borrowers nor lenders benefit when borrowers take on more debt than they can handle.
Research has shown that default rates rise sharply when borrowers put up small deposits.
When borrowers are in trouble, we give them respite from debt repayments.
Even when borrowers receive modifications, their loans can still be unaffordable or problematic.
A credit boom occurs when borrowers and lenders anticipate that asset prices will increase.
Problems start when borrowers don't switch to capital repayment or don't think about repaying the debt".
The reduced-payment benefits end when borrowers die, sell their homes, refinance or are foreclosed upon.
In Kentucky, the Higher Education Assistance Authority is responsible for notifying licensing boards when borrowers default.
