Report: Private market for student loans is ‘exploding’

MORE COLLEGE STUDENTS, such as those shown above at Brown University in Providence, are seeking student loans from banks and other private lenders to help pay for college, according to a new report by LendEdu. / COURTESY BROWN UNIVERSITY
PROVIDENCE – The private market for student loans has “exploded” in recent years, as there is now about $102 million in private student loan debt nationwide to help pay for college, according to a new report. With more than 100 banks and other private lenders now providing student loans, private student loans now compose about…

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