As the cost of college education has skyrocketed, families must rely more and more on private student loans. Faced with insufficient federal aid as well as relentless and possibly deceptive advertising, families are lured into risky deals that have undergone little government scrutiny. At the end of the day, students are trapped by high, variable interest rates and few protections against creditors.

Congress needs to step up. Federal loans must increase to match the rising tuition costs. Furthermore, borrowers need to be protected from these scams. Email your senators and representatives today to ask for comprehensive protection and support for struggling students and their families.

A comprehensive solution would include: bankruptcy protection for families with student debt; an end to deceptive or confusing marketing practices and better consumer protections; more thorough and reliable information about the private borrowing sector; and clear methods for comparing the terms of different private loans.

The Project on Student Debt has compiled a Private Loan Policy Agenda with more details.