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MSN News: Avoiding private student loan traps (The State)

With college costs continuing to rise, parents and students are increasingly turning to private lenders to cover the cost of tuition. Between 1995 and 2006, the amount of money borrowed from private lenders to pay for college went from $1.3 billion to $17.3 billion, according to MSN Money. Private loans typically have higher interest rates and offer less flexibility when it comes time to pay ...

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