April 8, 2013
Boxed In, Borrowers Struggle to Repay Private Student Loans
Mark Abramson for The Chronicle
Not long ago, Dana L. Knowles received a notice from Sallie Mae, the servicer of her private student loan. Starting in April, the e-mail said, payments on her $26,000 loan would increase by more than $200 a month.
"I can't pay this much," Ms. Knowles says. "A couple hundred dollars might not make much of a difference for some people, but it does for me."
Ms. Knowles—who earned a bachelor's degree in Italian from Smith College—works full time as a metadata