Tuesday, June 3, 2008

The Loans of the Destitute Student

I started my Great College Adventure in 2001, and at that time entered into the totally thrilling and not at all horrid world of student loans. My dad did a lot of the legwork on that, because a.) he is awesome and b.) let's just say that things like "math" and "finance" are not my strongest areas. My loans were strewn across two areas, one being the US Department of Ed and the other being with American Education Services. I went to school, left school, started paying loans, great, fine, everything went pretty well.

So finally, I got my ass back in school, and Assumption gave me a pretty awesome financial aid package (Take that $2000/year in work study and SHOVE IT, American), including a bunch of Stafford loans. Okay, great! I have a fabulous company that I have already been doing business with! I can totally just use them! I tell the AssCo Financial Aid Squad, "hey, I have this totally great company called American Education Services, I want to use them for the Stafford section of my aid."

AssCo: Yeah, we don't think that's gonna work.

Me: But I love them! Every time I call them I can get a person, and they are helpful and reasonable and not robots and rule at life!

AssCo: Well, we really like MEFA and we want you to use them. You'll love them too.

Me: But I already found my one true lending love.

AssCo: Trust me, this is the lender of your dreams. We totally love them and work with them all the time.

Me: But...

AssCo: Just do it, please.

Okay okay so I go get myself some MEFA loans and that's fine, and a year goes by with all calm on the Financial Aid front. Then I get a letter, which says something like this:
Dear Student,

Remember the time we told you to get you some MEFA loans because they were
the bestest ever? Well, they're not providing loans for the 2008-09 school
year. Oops. Go apply with some other company, sucka.

Love,

AssCo

After I got that, I chilled out around the house for a while, bleeding out of my eyeballs and swearing menacingly, and then put the letter in one of my many filing piles until such time that I could remedy the situation without the rise of homicidal urges.

Am I out of line in being pissed about this? I realize my paraphrasing above is snide and bitchy but the fact remains that Assumption really pushed MEFA as a great company that they worked with all the time. I now have loans out with THREE COMPANIES and am going to have to pick up a fourth. What the hell is THAT? Four goddamn loan companies? What happens when NEXT year, Assumption AGAIN doesn't do adequate research on their chosen lenders and whatever dipshit fourth company I pick up stops giving loans? I had a company I wanted to use, and now instead of being able to continue enjoy what seems to be the world's only existing Student Loan Lender/Lendee Relationship not fraught with peril and angstiness, I get to apply for MORE GODDAMN LOANS! I don't want to ride herd on four effing companies! I'm sure I can consolidate them somehow but dang dude why should I HAVE to?

If anyone needs me, I'll be fuming in a corner.

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