Answer: I love that question: why didn't you read the contract. Well, I was 17 on my first loan and about 19 on my second one. Didn't even have a checking account and never had a credit card at that time. Read the contract? yeah, I read it and "Trusted" that the government wouldn't give me the shaft. I mean how could they do that to me, I was just a kid and had big dreams. How did I know they would retroactively change the law after I took out my loan and that this loan would follow me to my grave. Oh yeah and I forgot to mention that no where in my contract does it say if I default that my interest would be capitalized. They sort of left that out for future use.
Answer: Nobody can follow when the government changes the rules in the middle of the game. They do it all the time. This is why we need reform, and we need to pass H.R. 4170, to restore some sanity and responsibility to the system. Consumer advocates back in the 80s reformed insurance company policies and forced them to write insurance coverage in understandable language. This is what we need now with student loans. Obviously this is proving to be true, as Consumer Finance Protection Bureau is beginning to listen to the people, and proposing these types of changes. And, as far as these perfect people, who read everything, I don't believe 99% of them. They would have to prove it to me first. If they are that perfect, good for them. But it's surely nobody I have ever met. How about you??