Thursday, October 25, 2012

Note To Self: No Loans Unless You Have Money To Pay Back, Quickly

Sallie Mae Assists 2.2 Million Student Loan Customers to Avoid Default - DailyFinance

Sallie Mae Tops Student Loan Complaints - Business Insider

I have problem with Sallie Mae too, but I know in my case it's not at all their fault, and in a general sense I don't believe it's entirely their fault. Fact of the matter is personally I should have never done business with Sallie Mae. I knew nothing about loans and took the advice of people that didn't realize I knew nothing about loans. It was kind of a Catch-22 situation. If I knew more about loans I probably would have been able to asked the right question, but not need to. Since I didn't know anything about loans I didn't know the right questions to ask when I really needed to.

I believe loan company try to help and more specifically their employees. I talked to the really nice guy named R__ recently. He did his best to help, it's just that the means the company provides to help is kind of like a Catch-22 situation. If I were able to pay you $3000 to bring my payment up-to-date you would so not be calling me right now because surely I would have been making the, what, $50 or $100 payments all along. But sometimes policy trumps people. That's not the company's fault, completely. They service upwards of 2.2 million people (I'm using the figure in the article cause I don't have the actual one right now in front of me.), so they have to protect their interests to keep operating and providing loans to the needy.

That's tough.

I just wish there was an easier way to individualize the process. Really give people who can't options and ways to payback the loan. I'm sure not everyone who borrows money is looking for a way not to pay you back. If they had the cash flow, the payment surely would be flowing the way of the lenders. At least that's the way I feel about my personal situation compared to how I must look to the Sallie Mae, (etc.), computers.

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