College loans have made higher education possible for millions of students.  What is often considered the American dream can become a life-long finincial burden. 

Alan Collinge calls Sallie Mae - the nation's leading provider of student loans - the "Bully in the Schoolyard" as result of its lending practices.  On studentloanjustice.org students write about their ballooning college debt.   

Millions of dollars in loans from MOHELA may go on the auction block.  Govenor Matt Blunt has proposed selling assets of the state's college loans to another guarantor.

Collinge says that interest and penalties have caused his debt with Sallie Mae to triple.

In response to Collinge's criticism, Sallie Mae spokesperson, Tom Joyce says, the marketing giant has provided over twenty one million students with loans for college. 

He goes on to say few of Sallie Mae's borrowers can manage their loan debt.

The cost of attending college is fast increasing. It's estimated that today it would cost over eighty-thousand dollars to attend a four-year private university - making it difficult for students to avoid taking out a loan. 

But Joyce says taking out a college loan is a wise investment in a borrower's future.

Collinge says it's common sense that loand must be paid back. He calls Joyce's comments a "knee jerk" reaction.

Collinge says the issue isn't repaying the debt.  It's the amout of interest and penalities added onto the original loan.