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

By ANNA HELHOSKI of NerdWallet

Buy now, pay later financing options are increasingly being offered by for-profit credentialing schools and boot camps. The “learn now, pay later” concept is appealing, and students are already familiar with the name brand companies since buy now, pay later is ubiquitous within online retail. But are these just risky loan products by another name? A recent report from the Student Borrower Protection Center seems to suggest so. Borrowers need to tread carefully before signing on for buy now, pay later plans to pay for their education programs.