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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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644 clicks; posted to Business » on 18 Oct 2021 at 1:37 PM (30 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

 
2021-10-18 11:51:12 AM  
11 votes:

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 1:57:20 PM  
11 votes:
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 11:41:38 AM  
8 votes:
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 2:57:00 PM  
6 votes:

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 12:50:21 PM  
3 votes:
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 2:13:40 PM  
3 votes:
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 2:12:12 PM  
2 votes:
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.
 
2021-10-19 8:58:59 AM  
2 votes:

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.
 
2021-10-18 2:24:53 PM  
1 vote:

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
 
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