All of my student loans are consolidated through the federal Direct Loan program. At first I thought this was a good idea but after dealing with a new and exciting level of incompetence I have second, third and even ten thousandth guesses.
I am in the habit of paying my bills early, but as a result I got tagged last month for a "missed payment." I paid one of my student loan bills 3 business days early (on the 3rd of the month) and the next one 5 business days early (on the 30th). According to the loan folks I didn't make a payment this month but, in their definition, two last month.
Are you following? - I sure as hell don't. I called to figure out why the resulting balance this month is more than it was last month and they said I missed this month's payment; even though they do show the two payments. The interest compounds daily and "technically" I have 40 days without a payment so that is why I owe more on my loan today than I did 45 days ago. The customer service guys all stonewalled me. I have talked with three separate representatives for a total of 2 hours. No resolution and no recourse. The FSA is probably the most uncooperative group of assholes since those cops in Guadalajara, at least that just cost me twenty bucks and night of shame, at these (interest) rates I have another 30+ years of shame.
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2 comments:
Sorry hombre.
I know it is no consolation, especially you already have one of these too, but my first mortgage maybe was auto-pulled from my checking account this month. It is pretty depressing to see the amount of money that was removed and the amount of principal that was reduced on the loan. :(
Hi Matt:
Yeah the mortgage. . . At least I can pawn my house (three legged cat thrown in to sweeten the deal). I'm all edjumakated and I can even sell myself on the corner of 13th and Colfax. DAMN!
XOXO
dirt
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