2 posts tagged grc
While in school for 4 straight years Sallie Mae changed my status between semesters and capitalized my interest making a $60k loan balloon to $100k. Saying that my “status” changed. It didn’t I was in school and it should have been an in school deferment. That is on my private loans. That’s criminal.
Options Sallie Mae has given me in order to pay my loan:
1. Borrow from friends and family - $60,000 + 18 percent interest by the way.
2. Take out another private loan and use it to pay the current private loan.
3. Fill out a bunch of applications for credit cards, and pay the loan with those. (My credit score is below 500 due to Sallie Mae - so I either can’t get a credit card / or can get me one with an interest rate of 35 percent or higher)
4. Intentionally hurt myself or fill out a false accident claim so I can cash in on a settlement. (This is an honest to god suggestion from a Sallie Mae employee.)
5. Don’t pay my rent or buy groceries for the month. But pay my phone so Sallie Mae can continue to call me ten times a day.
6. Sell my car, all my personal possessions, and clothing so I can bring my account current and at least get just a small fraction the interest out of the way.
7. Quit college now and take up two or three jobs. Yes, Sallie Mae asked me to do the right thing and give up.
8. Ask neighbors, people I don’t know around me, if they would be willing to pitch in and help me out. Other wise Sallie Mae would call them and do it for me.
9. Garnish my wages. My wages are student loans.
10. Call me ten times a day. As if in between hours I’m some how going to magically have sixty thousand dollars.
11. Got to love the forbearance fee. In all honesty I’m still paying considering my interest is compounding during the times the forbearance is in “effect.”
Al lord, seriously? I get it. Who doesn’t want a nice yacht, a mansion and their own personal golf course. But what is that going to mean ten years from now when you need a doctor, and there aren’t any because you pissed on all of them? What about science breakthroughs? Your yacht isn’t going to build itself. How are you going to purchase the latest high tech car or gadget when America’s engineers are all stuck working retail? Pilots. Whose going to fly you in your private jet to your favorite vacation spots around the world? YOU? There are only a small handful of people like you out there right now, Al Lord. You could do so many great things with your money and your choosing not to. The American people don’t want to be filthy rich, they just want their shot. America possesses a vast range of diverse and talented people that could change the world as we know it. Al Lord, your not one of them. Its a travesty that some one that has nothing to offer gets to make the decisions.
