Tuesday, July 19, 2011

Since when is Sallie Mae administering Direct Loans?

Is this new? I just got emails and letters about Sallie Mae being the new contractor for my student loans. I thought this was outlawed so that all direct student loans now come from and are totally administered by the government. Now, even though Sallie Mae is not "technically" the third-party lender for federal loans, it's the "administrator" because they outbid other companies? WTF? More government being contracted out? Is this the new Republican congress at work here reversing or modifying the Obama-Pelosi bill or what? Sallie Mae is sleazy. I had a friend who's in debt tens of thousands of dollars in pseudo-direct loans through them and never even got a degree from one of those shady for-profit fashion and culinary corporation outfits. Kick-backs, vacation deals to counselors to meet loan quotas, etc. I want nothing to do with them. Now I’m wishing this was a case of identity theft so I could quickly cut off any connection with them.

No comments:

Post a Comment