(S+) Student loans: Private loans drive students into debt

Spiegel

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Private student loans become a problem for many young people: they are stuck in dubious contracts with horrifying interest rates.

berliner-sonntagsblatt.de

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More and more young professionals are getting into financial difficulties because of private student loans. Hamburg lawyer Achim Tiffe warns against such offers. "Students are often taken by surprise by the providers on campus or online, and they sign contracts that later turn out to be a straitjacket," he told "Spiegel". He has now received more than 60 cases. Tiffe considers a large proportion of the contract conditions to be "immoral". Inter…