New Rules Require More Sunshine on Terms of Private Student Loans

As an analyst of private student loans, Tim Ranzetta is fluent in the language of lending. Even so, when six major lenders approved him this spring as his nephew's co-signer for private student loans, he found that he knew little about what he was being asked to sign.

One lender, a day after sending Mr. Ranzetta a promissory note, followed up with an urgent e-mail message the next day, telling him to sign the note immediately, even though the company had provided no information on

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