Is ‘learn now, pay later’ just another student debt trap

Is ‘learn now, pay later’ just another student debt trap

The ‘ buy now, pay later ‘ transaction is simple: Shoppers are offered an installment loan at the point of purchase, spreading the cost of the product across several payments. They’re often available without a credit check.
Buy now, pay later financing has become a go-to payment method at most major retailers for everything from clothing and cosmetics to computers and patio furniture. Now, it’s gaining traction for an even bigger expense: higher education.
Buy now, pay later is an appealing, flexible financing concept, but customers who can’t keep up with payments can end up with late charges or interest they can’t afford.