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Posts tagged with: Student Loans

Best Day Eveeeeeeeer!

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I was torn on the title of this post. Went with best day ever, but also wanted to write Everything is Awesome, inspired by the lego movie song (check it out here<and now you’ve got it stuck in your head! mwahaha!)

I’ve had not one, but TWO big money-related success stories to share that happened just today!

Success Number One. After posting my morning post about Navient sucking big (bleep), I had to make some phone calls. I’d already contacted my old school in Florida to try to obtain my master promissory note (spoke to them last week, was hoping to hear back this week). Over the weekend, I got a letter from Navient also suggesting I contact the loan guarantor. So I called them first thing this morning and find out (1) they have no information about my loan. They ONLY get the master promissory note if I’m in default and they’re trying to collect (which is not the situation here – I’m current). And (2) the master promissory note would not even solve my issue because it does NOT state whether the loan is subsidized or unsubsidized! That’s the whole reason I’ve been on this wild goose chase! So I call back to Navient with uber-low expectations. My best case scenario is that I’ll speak with a supervisor, they’ll do some “investigation” and that’ll be it. Well, it took a long time (nearly 30 minutes), but by the time I hung up THEY HAD AGREED TO CHANGE THE LOAN BACK TO BEING SUBSIDIZED! YAAAAAAAAAY!!!!!! Apparently they “found” whatever paperwork was missing/lost and were able to verify that yes, indeed, this loan is supposed to be subsidized. It will take 5 business days to show up on my account, but then I’ll be refunded the interest they’ve charged and everything will be gravy (until the next issue that pops up). You know, it’s so crazy. When I speak to them they make it sound like this is a legitimate mistake, not some big scheme to purposely screw lenders out of tons of money (just a quick google of Navient lawsuit returns tons of articles about how they’ve been sued repeatedly for alleged fraudulent practices involving systematically overcharging customers money, etc.). On my morning post I had several people post that this sounds like a class action lawsuit in the making. I’m torn on the subject. Was it intentional and systematic? Perhaps. But it could have also just been poor business management. Not that it’s acceptable either way, and it sucks that I’m the one stuck dealing with it, but I’m just SO SO SO happy this is now resolved!

Whew!

Success Number Two. This morning was a little frantic. I was running late getting ready and getting the girls ready so I decided I’d drop them at preschool and rush back home to get myself ready before going into work (it’s truly SO MUCH EASIER when I’m able to get ready after they’re out of the house. Some days I have to be at school early so I don’t have that option, but today my first meeting wasn’t until 10am, so I was able to return home after drop off). Anyway, I’m rushing. Like….fast. I dropped the girls off and am speeding down the road (literally speeding), when I see those flashing lights in the rear-view and my heart drops to my stomach. I haven’t had a ticket in YEARS (I think since 2009, to be exact). And I was sick. Not only was I going way over the speed limit (53 in a 35mph zone, to be exact), but I had left my entire purse at home!!! I had no wallet, no ID, no registration, no insurance, etc. etc. etc. All I had were my keys and my phone. I was expecting to rack up nearly a grand worth of tickets. When the cop came to my window I was 100% honest (no point in lying). Yes, I know I’m speeding. I was in a huge rush, but that doesn’t make it okay and I was going WAY over the speed limit. Also, you’re going to be really angry at me….I left my purse at home so I don’t have ANY documentation with me. ((insert shoulder shrug and smile))  The cop let me pull up my insurance on my phone and used the registration sticker from my license plate (in Arizona we get a paper registration that you’re supposed to keep in the car AND a sticker registration to put on our plate. I had the sticker on my plate, I just didn’t have the paper with me). I gave him my birth date so he could look up my license. After everything was said and done I left with (drumroll)……ONLY A WARNING!!!!! Yes, can you believe it!? He didn’t write anything about my license or registration and just let me slide on those. In the warning he wrote I was only going 45 in the 35 zone because if he’d written how fast I was really going he said he’d be forced to write a ticket (and get in trouble if he didn’t). I was nearly crying from the gratitude I felt for that officer. I wanted to hug him but settled for a handshake (I’m sure there’s some rule about not letting people hug you when you’re wearing a gun on your hip). I just want to say – cops get such a bad rep these days. They’re always in the news for shooting innocent people and although not all cops are good people, the one I dealt with today was the BEST kind of people! I’m still filled with gratitude and compassion for this guy just thinking about it as I type. Plus, I’ve learned my lesson so I will definitely refrain from speeding, even if I’m in a hurry. It’s unsafe for others and unfair to put other drivers and/or pedestrians in that position just because I’m running late.

So that’s all. What started off as a pretty crappy Monday morning has turned into THE BEST DAY EVEEEEEERRRR!!! And I hope that all your days are going well, too!

Let’s keep the positivity flowing! Tell me something GOOD that’s happened to you lately!!!


What an (EXPENSIVE) headache!

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Argh! ((shakes fist at Navient))

I hate beating a dead horse, but here we go…..

Navient just sucks so bad. SOooooo soooo bad!

The latest way they’re trying to screw me over…

I recently mentioned that one of my ACS loans has now migrated to Navient. Only, somehow, in the migration it has switched from being categorized as a subsidized loan to an UNSUBSIDIZED loan. This is a big deal because I’m on income-based repayment and, under IBR, unpaid interest is forgiven on subsidized loans. But unsubsidized loans continue to accrue interest. Right now my minimum loan payments are really low – they don’t even cover the interest! So I’ve been strategically targeting only a couple of my loans and paying minimums on all the rest, with the knowledge that unpaid interest is forgiven and I will just live with paying interest (no reduction to principal balance) until my current target loans are paid in full and I move onto the next loan.

Well, after discovering Navient’s egregious error I gave them a call. Only, they say that their paperwork states that the loan has ALWAYS been unsubsidized. I explain that there’s no way! I carefully track my loans every month and you can clearly see that they HAVE to be subsidized because the balance has always stayed EXACTLY (to the penny) the same! That’s because I’m not even paying enough to cover interest and all unpaid interest is forgiven. Period.

They acknowledge that, yes, they can see how unpaid interest has been forgiven. But their paperwork says the loan is supposed to be unsubsidized. Their hands are tied and there’s nothing they can do. I will need to get the original master promissory note to show that the loan is subsidized. In the meantime, my loan has somehow accumulated OVER THREE HUNDRED DOLLARS in interest!? In only a few days!!!!

Well, of course, getting access to the master promissory note includes several more hoop-jumping exercises not even worth going into here. Just note that it’s been a frustrating experience and I still have not even managed to get ahold of it (though I should hopefully have it this week!)

So let this be yet another in my long string of warnings about the potential pit-falls of student loan debt. And another cautionary tale of why you should be very vigilant about careful monitoring of your student loan account(s) on a monthly basis to make sure you catch these types of errors when they happen to you (notice I said WHEN, not if!)

In the meantime, why not add another task to my mile-long To Do list. I just love it when someone else’s incompetence creates more work for ME to do (can you just hear my sarcasm?)

Hope your Mondays are off to a better start!