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1 Hour and no Luck

October 21st, 2023 at 02:24 am

I spent a hour on hold with my student loan provider and still no luck. 

This is absolutely ridiculous. I was told that this is common practice. Meanwhile my student loan is accumulating $11+ a day in interest. 

 

Posted in Uncategorized | 2 Comments »

2 Responses to “1 Hour and no Luck ”

  1. MonkeyMama Says:
    October 21st, 2023 at 01:38 pm 1697895523
    1697895523

    None of this surprises me at all. I did read an article the other day how the wait time was several hours (worse than usual). But these student loan servicers are known for changing the terms and interest rates on borrowers, with no recourse for borrowers.

    I don't have any answers for you. But the good news is that you are almost done with these scammers.

  2. LuckyRobin Says:
    October 23rd, 2023 at 04:36 pm 1698079000
    1698079000

    Are you able to take out a personal loan at the bank at a set interest rate so that this can't happen to you? Even if it is a higher interest rate it won't change on you constantly and you will have that peace of mind. You might want to close some of those credit cards if they are still open, though, since they look at how much you could charge up and get yourself into further debt if they give you the loan. I would close all of the store cards and keep the credit card with the biggest available balance and the Sam's cludb one, and the Home Depot card until it is paid off.

    Since you bought your house in 2018, it has probably gone up in value in the last five years. You could see about refinancing it and sweeping the student loan and Home Depot debt into the refinance. Yes, you'd have a higher interest rate then, but it would be a set one, and it would be all of your debt in one place to smash into oblivion. While the first would be the preferrable option, so you could keep a lower interest rate on the house, you may not be able to get a personal loan.

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