To: The United States House of Representatives, The United States Senate, and President Donald Trump
Abolish Student Loan Servicing Agencies
These agencies have made it impossible for student borrowers to ever pay off a student loan. This type of company for profit are not interested in students or anything but their own greed. They must be abolished.
Why is this important?
Because it is time that Student Loan victims have a real way to fairly pay off their loans without the constant illegal roadblocks that are put in the way to achieving freedom from these vampiric companies.
Example: Borrowed $20,600 have paid back $32,800 and still owe over $50,000. There is no way to get these paid back as the servicing agency does not follow the rules and has no intention of assisting anyone get out of debt. The laws must be changed to force agencies like ECMC and Navient to really assist borrowers to pay their debt or their ability to have anything to do with these loans must be taken away from them and huge money penalties imposed that then go into a fund that will truly assist borrowers and future students.
Example: Borrowed $20,600 have paid back $32,800 and still owe over $50,000. There is no way to get these paid back as the servicing agency does not follow the rules and has no intention of assisting anyone get out of debt. The laws must be changed to force agencies like ECMC and Navient to really assist borrowers to pay their debt or their ability to have anything to do with these loans must be taken away from them and huge money penalties imposed that then go into a fund that will truly assist borrowers and future students.