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I think my student loan company is treating me unfairly.?
I have about $100,000 in student loan debt from my undergrad degree. Right now I am in the six month grace period. I joined the Peace Corps, and I was told I would be able to defer them. I contacted the company right after I graduated and asked them 2 things:
1) Consolidate all of my loans (I have about 6 or 7 loans at interest rates from 6-10%)
2) Defer them after my grace period because volunteering doesn't any pay money
They ignored my email, and whenever I called I spent no less than a half hour on hold, and many times hung up without being able to talk to anyone. After sending many more emails, I got a reply finally, and they said:
1) Due to the credit crunch, they're no longer consolidating loans because it's uneconomical for them
2) I cannot defer my loans based on lack of lucrative employment. I can only forebear them, which means they will still accrue interest.
I replied and said that will not work for me, and I politely asked them to work with me so that once I start repaying my loans I do not have all of these ludicrous fees just because I chose a nontraditional career path out of college. I feel like they're trying to just charge me as much money as possible, and they are being completely uncooperative with trying to work with me. Is there anything I can do about this?
3 AnswersFinancial Aid1 decade ago