Fed Financial
Student Loans-Private Signature.?
Private Student Loans, in particular, the Signature Student loans serviced by Sallie Mae. I am well aware of the nature of Sallie Mae. They are the classic "have your cake and eat it too", and subsidized loan sharks. However, are there deferments due to unemployment, low income etc? Or, do they just hassle and threaten you for a good while, then write them off? Bear in mind, I'm talking about someone who has no assets. i.e. home, boats, late model cars, motorcycles or the like. Someone whose income is variable, nothing to a something from week to week. These loans intitiated from around 6 to 8 years ago, and where in deferment while in school, yet they list them as bad accounts on a credit report, unlike Stafford loans, which are listed in good standing. Private student loans are in a grey area, which the lender can play by whatever rules they wish, they are getting paid no matter what.
Public Comments
- just try to find an answer online
- sallie mae is NOT a good lender. They will not let u consolidate ur loans like others do.. When I had a loan thru them (years ago), u could defer payments and I am sure they probably still do that.. They will NEVER write it off unless u become disabled.If he has missed one payment it will be listed as bad accounts...the thing with Private loans is they can charge u as much interest as u want and ur stuck.. they will probably take him to court and get so much of the income he does rec. They can also keep his taxes until he's caught up... Stafford loans lenders are much more understanding and lenient (sallie mae is the exception)
