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<p>Private Student Loans comprised 7 percent of student loans taken out last year and are 15 percent of the nation’s total outstanding student loan debt.</p>

Private Student Loans comprised 7 percent of student loans taken out last year and are 15 percent of the nation’s total outstanding student loan debt.

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Personal Finance: Private Student Loans No Better than Using a Credit Card for College

An analysis of the recent Consumer Financial Protection Bureau’s Student Loan Ombudsman report concluded that private student loans (PSLs) are a risky and high-cost method to pay for a college education.