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(CNBC)   Nearly 10mil of you with student loans will have your servicer switched by the end of the year. Press "5" to find the closest loan servicer to your state, "9" to hear this message again   (cnbc.com) divider line
    More: Followup, Debt, student loan servicers, Customer service, level of service student loan borrowers, Loan, collection of student loan payments, loan servicers, new changes  
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620 clicks; posted to Business » on 18 Oct 2021 at 1:37 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



16 Comments     (+0 »)
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2021-10-18 11:41:38 AM  
Found out about FedLoan Servicing a few months ago.  My last phone conversation with them was "keep sending us checks until we send you a letter saying otherwise".  A shame the loan won't just be forgiven, instead of being tossed to another cluster of debt collectors.
 
2021-10-18 11:51:12 AM  

NM Volunteer: Found out about FedLoan Servicing a few months ago.  My last phone conversation with them was "keep sending us checks until we send you a letter saying otherwise".  A shame the loan won't just be forgiven, instead of being tossed to another cluster of debt collectors.


You and me both.  So sick of this 😒
 
2021-10-18 12:50:21 PM  
PHEAA got out of the FedLoan program because they would have had to stop engaging in skeevy collection practices. They're more than able to handle the job, they just don't want to improve service.
 
2021-10-18 1:49:54 PM  
I'm going to burn it as far as I can once the collections start resuming. On a ten year plan, I should finish 3 years early.
 
2021-10-18 1:57:20 PM  
Cancel student debt. You wanna help the economy? That's pretty much the biggest single action any presidential administration could take. The effects would be gargantuan.

But we don't, because reasons no one will tell us.
 
2021-10-18 1:58:57 PM  
I'm on track to finally have my student loans paid off in ten months. If this farks that up I'm going to be pissed.
 
2021-10-18 2:12:12 PM  
FedLoan/PHEAA also is presumably getting a tidal wave of new PSLF certifications and re-analyses to deal with right now, with that plan having just changed dramatically, just in time for them to get lost in limbo with a new servicer switchover.  And God help whoever takes over that PSLF business in getting enough staffing in the next few months.
 
2021-10-18 2:13:40 PM  
My loan goes poof Feb 1. so right during the change of servicers, yaaaaaay. they better not fark this up.

/narrator: they'll fark it up.
 
2021-10-18 2:24:53 PM  

austerity101: Cancel student debt. You wanna help the economy? That's pretty much the biggest single action any presidential administration could take. The effects would be gargantuan.

But we don't, because reasons no one will tell us.


no we can't print money that way! stonks go down! OOGA BOOGA
 
2021-10-18 2:37:08 PM  
Assuming things are the same as they were when I still had loans, pray for MOHELA. They were the only half-decent servicer I ever had.
 
2021-10-18 2:49:36 PM  
I never had an issue with fedloanorg, but I never had to do anything other then set up autopay and increase the amount every year or so...

That said, last year set me back...0 int helped... a little...
 
2021-10-18 2:57:00 PM  

Stibium: austerity101: Cancel student debt. You wanna help the economy? That's pretty much the biggest single action any presidential administration could take. The effects would be gargantuan.

But we don't, because reasons no one will tell us.

no we can't print money that way! stonks go down! OOGA BOOGA


Student loans are at a much higher interest rate than other debts except junk bonds.  The looks can't be discharged by bankruptcy, are backed by social security payments, and have punishing penalties for failure to pay on time.
Fully subsidizing public higher Ed will dramatically shrink the number of loans and total loan amounts which make the wealthy sad.  Subsidies would also require higher taxes on wealth which is also a non-starter.
So no, the wealthy who run Congress are not going to forgive student loan debt.  They barely did anything when Betsy DeVos, an investor in student debt, broke the contracts and didn't forgive loans which met the forgiveness criteria in the contract / note.
 
2021-10-18 4:39:55 PM  
Frankly, deep in cold black heart, I'm hoping one comes when enough of my generation and below say. "fark it!" and just all default on the loan payments in one giant collective mass.

The system has propped itself up on our backs and with our blood long enough. Time to start gutting all those 401k's the top 1% have been using as a tax dodge for years. Trust me. Just a handful of those could eradicate a 1/3rd of the student debt and quite a bit of the national debt. Plus it will do far more for the growth of this country and economy than those assholes and their misbegotten kids & grandkids could do in 1000 years.
 
2021-10-18 11:09:17 PM  
I'm looking forward to upcoming collapse of the student loan system here in the US. One more extreme crisis, like say another pandemic, and the whole house of cards will come down.
 
2021-10-19 2:19:16 AM  
I paid off my student loans via garnishment.  15 years later I paid off my wife's student loans by refinancing my house. 6 Years after that I made sure my son did not take out any student loan debt to get his bachelors.
Having paid off three colleges myself, all y'all can suck the big one and pay for your own damn loans. Fark you. I'm not paying your loans off as well.
 
2021-10-19 8:58:59 AM  

Ravage: I paid off my student loans via garnishment.  15 years later I paid off my wife's student loans by refinancing my house. 6 Years after that I made sure my son did not take out any student loan debt to get his bachelors.
Having paid off three colleges myself, all y'all can suck the big one and pay for your own damn loans. Fark you. I'm not paying your loans off as well.


Because you suffered, others should suffer.

Even though we have found out it's all a scam.
Even though the good-paying jobs have not returned
Even though the housing market is insane and we can't buy houses

Way to make it all about you. Perfectly explains how this shiathol3 country was even able to get this fuxked up in the first place.
 
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