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Go Figure . . .

Once upon a time, I had a student loan.

Like most of the world, I defaulted on it.

I knew it was going to happen. I called them and warned them. I asked to refinance . . .

And they refused to even discuss it.

So I defaulted.

After the Department of Education sent me a few thousand trees worth of mail, and several billion phone calls, I finally talked to someone who grasped the concept that if I could pay off the entire thing, it would have already been paid off.

That person refinanced the loan.

Everything was wonderful.

And then we had a spat of trouble, which readers of the previous blog may recall.

And I called the Department of Education, and explained what was going on, and that feeding The Boy was a much higher priority than a student loan I had already defaulted on once, and could I refinance again to bring the payments down?

Again . . . wouldn't you think they would have learned? . . . they refused to even consider the idea, and refused.

And no, partial payment was completely unacceptable. I tried that -- they sent it back and informed me that they could not accept less than the full payment each month.

Despite the fact that they had told me that I was very lucky that they had refinanced the loan, and any default would result in wolves (and possibly vampires) being borrowed from the IRS to be sent to my house, I defaulted again.

At that point the actual LOANS had been paid off. Just not the 42% interest, compounded hourly, and the zillion dollars in service changes and fees involved in renting wolves and vampires and the other fun things anyone who has ever been late paying off a student loan can tell you about . . .

Today they called me, and demanded full payment.

I thought it was funny.

I explained that if I had that much handy cash, it would have been paid.

Or at least not defaulted . . .

So they offered to refinance it.

Again.

At lower interest rates, payments, and vampire-to-wolf ratio.

The same thing I was trying to get them to do when I had to default it . . .

2 comments:

Alicia said...

What really surprises me is their refusal to accept partial payments from you. Seems a lot like cutting off the proverbial nose to spite the face. No money is better than a bit of money.

It worries me that such clueless people are in charge of such things as student loans.

Rachel Ann said...

We were so in debt because of those stupid college loans, and college my friends never got either my husband or myself anywahere. You know what you can do with a BA in Psych? (Yeah, but it would clog up the toilet.)