Product: Student loan

I'm a XXXX alumnus who is currently paying off their indentured servitude to XXXX XXXX XXXXXXXX and have been on time since the end of my XXXX  month grace period in XXXX. 

As I'm sure you're aware over the past few months there are been countless articles from XXXX, XXXX XXXX, and many other news outlets over the practices of XXXX 's and their legality. Not only XXXX XXXX  but many other loan servicing companies have been under fire for these practices. 

As a student, I was led to believe that XXXX was funded by alumni for boilermakers who had limited access to federal loans and may need help funding their education. At the time, I was transitioning from XXXX into XXXX, had lost my scholarships due to poor merit, and felt that an XXXX was not only a great way to help get myself through schooling during a difficult academic period in my life but also a way to one day in the future give back to other students like me in a difficult financial situation. 

To say that I am appalled to find out the uneasy feeling I have had in my stomach since graduating with this type of XXXX was in fact not just anxiety but in fact a form of indentured servitude, and that I'd be giving a portion of my salary to a hedge fund for the next XXXX years was infuriating. I am ashamed of XXXX XXXX  for manipulating their students and being more interested in helping capitalists than their own student body. 

It is clear to me now that XXXX is breaking many laws. 

1. ) Borrowers are not allowed to pay off their XXXX 's early without a penalty of paying off XXXX the original loan amount. According to the CFPB ( Consumer Financial Protection Bureau ) this is breaking the law. Traditional Student Loans, which XXXX is, is not allowed to penalize its borrowers for paying ahead of schedule. 

2. ) XXXX falsely represented that ISAs are not loans. Again, false. By the standard definition of Loan, XXXX is in fact a loan. This is a misrepresentation. There has been a failure on XXXX 's behalf to provide disclosures required by federal law in regards to loan status as well. 

3. ) Lying to your student body and claiming that XXXX XXXX fronted the money for the program as a way of coercing students into believing there was some sort of altruistic behavior behind the program and that our payments would go on to help other students in future boilermaker classes after us. It was plastered all over the mailed documents and the XXXX  XXXX XXXX website. When in reality it was funded by hedge fund investors. 

I'm sure that when applicants were chosen for this program those who were more likely to make larger amounts of money post-graduation ( engineering, health sciences, etc ) were given first priority because XXXX  XXXX XXXX could garner a higher amount of interest back on their 'investments '. I am sick to my stomach to have let a public university manipulate me in such a way. Now in XXXX, I have paid 90 % of the total loan amounts of {$5000.00} back to XXXX XXXX  but still have XXXX payments left. Meaning if my salary never increases, I will pay a total of {$10000.00} for a {$5000.00} loan because I have no option to pay it off early like I have all of my other student loans.