🚀 go-pugleaf

jlodman@beowulf.ucsd.edu (Michael Lodman) writes:

>In article <1992Jan2.184253.28517@smsc.sony.com> mb@smsc.sony.com (Michael Burg) writes:
>>Here's another Citibank sucks story -
>>
>>My friend had a $5000 student loan which Citibank was the holder. She had
>>stated on the load application that she would be graduating in December of 86.
>>Billing for repayment of the loan would start about one month after she
>>graduated.
>>
>>Well she didn't graduate until December of 87. Durring the time between
>>the application and Dec 86, she had (along with most of her references) 

>Sorry, you ain't getting any sympathy for you friend here. How long would
>she have gone without contacting Citibank if she hadn't tried to get
>additional credit anyway? Would you loan money to someone who "forgets"
>a $5000 loan for a year and 3 months? Sounds like a _real_ sound
>risk to me.

>>Sounds like their loan depts are too lazy and too stupid to do any kind
>>of background checks. Like making a simple phone call to the University!!!

>Why should they have to? Your friend fucked up big, Citibank probably
>had already written off the loan as uncollectable, and your friend
>is stuck with a big (well deserved) black mark in her credit history.
>It was absolutely 100% her responsibility to begin paying the loan
>when she said she would, and to make arrangements _beforehand_ to
>extend the loan when she didn't graduate. It was also completely her
>responsibilty to inform Citibank of her change in address.

As someone who has worked with student information for 11 years, let me add
that the FERPA or Buckley Act of 1974 makes dates of graduation confidential
information, which means for some this information is unavailable to every
Tom, Dick and Citibank that calls up to check.
--
I'm a man of fire 
It's a buring thing
It'll burn on forever
If you feed me baby