I have however now come to realize that actually repaying the loan is harder than obtaining the loan in the first place.
Not because the cash is particularly hard to find.
But because the bureaucracy which makes the loans possible at times blocks your ability to repay.
In the course of four years study I took loans for two institutions. These two institutions then paid me the loan but can I get repayments consolidated by Sallie Mae, can I ^%&*$
I wait anxiously each month to see which loan has been paid this month. Every month for the last six months I have received calls from Sallie Mae telling me one or other the loans has not been paid. I have asked operator after operator to consolidate both loans, or even just set up separate direct payments from my bank account. Each operator has promised me that it is fixed and the loans will be paid on the due date. Each month I get another call telling me the loan payment did not get paid. This time they took payment for the other loan.
It seems bad form when you want to repay, are able to repay and believe you are repaying to find that the system seems to conspire against you and foil every attempt to repay you constantly growing student loan.
Constantly growing? Well don't forget that the loans are subject to continuing interest.