reverse threading

the path back is the path forward

Tag Archives: navient


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we aren’t the only ones. [kerri’s blog on saturday morning smack-dab.]

we aren’t the only ones.

predatory-lending student loans. it’s not like i haven’t written about this before, most notably from a post called “sense?” on october 24, 2022:

“predatory lending in the student loan arena began around 2000. the arrow of the poison bow hit david in graduate school. it has not let go since. navient – one of the big student loan lenders – took part in subprime loans, private loans, misrepresented loans, aggressive forbearance-steering, sloppy accounting, the list goes on. and people’s lives – real people in the real world trying to make a real living and pay off real debt – have been skewered forever. crushing debt…in story after story in which interest is principalized, in which families aren’t given income-driven options, in which the debt rises instead of falls even as diligent efforts are made to pay down this farce of lending.”

and so now – after enormous governmental party-line fights to help-no!-help-no! we are back there, facing down a ridiculously ballooned forbearance-steered-misrepresented-principalized-interest-unforgiven set of loans.

and we aren’t the only ones.

it’s pretty overwhelming. it’s middle-class america.

we’ve consolidated, paid thousands extra when we could, applied for limited pslf and hope the idr count catches up. i have read student loan op-eds, student loan announcements, student loan laws, hundreds of student loan articles. i’ve placed phone calls and have more-to-dial on my list-of-things-to-do.

and the billing statement arrived.

there’s not much more deflating than treading water when the shore isn’t visible.

and we aren’t the only ones.

we have been the recipients of snarky comments about responsibility and snide remarks about artists and money-budgets. we have been sneered at and scoffed at. mostly by people who haven’t asked any questions – a recurring theme – by people who don’t understand – nor want to understand – what has actually happened in the warped world of student lending.

and we aren’t the only ones.

right now, the statement says we’ll pay david’s loans off in 2048 with an additional $40,000+ in more interest. but “student loans were never meant to be a life sentence,” (united states secretary of education miguel cardona.) we will be 87 and 89 in 2048.

this isn’t a funny SMACK-DAB. it’s not touching or poignant. but it is real. it is reality for millions of people victimized by dysfunctional practices – student loan malpractice – the government should have overseen.

we aren’t the only ones.

*****

read DAVID’S thoughts this SATURDAY MORNING

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i need more socks. [merely-a-thought monday]

the socks came packaged with soup mix and a ladle we use every single time we serve soup. “keep your head up ⬆⬆” was good advice. it still is. and every time i wear these – mostly as sleepynightnight socks to avoid dreaded leg and foot cramps – i think of margaret and ruth, who sent them to me.

we are going to need to stop reading our news app each morning. instead, i should sip coffee against my pillows and stare at my socked feet. it’s the only way to avoid having the day start in angst. headlines of corrupt politicians, the unconscionable politicization of the supreme court, compassionate human and equal rights being stripped right and left, the undermining and diminishment of LGBTQ, gun-toting individuals mowing down people at block parties and funerals and places inside and places outside. the smoke from the canadian wildfires wafts through our open windows and storms are predicted throughout the country as “severe” and “dangerous” with hail and wind and tornadoes and driving torrential rain, yet there are those who deny climate change. conspiracy theories rise like bile and individuals who bark the loudest are lauded, clowns representing constituents in this country. geeeeez.

like many, we were hopeful – though not expectant – of the supreme court siding with president biden about student loans and forgiveness. we have been dramatically affected by this crisis, by the predatory lending that took place/takes place: principalizing interest, forbearance steering, no transparency about income-based repayment plans. now, don’t get me started on transparency – for the lack thereof – opaque opacity, if you will – exists in organizations and communities where you would least expect it.

these student loans – deceptively pushing lendees further into debt – had no oversight; people are still struggling from these unfair practices, including us. nonetheless, the land of student loans is a misunderstood monster and many form rapid opinions about “free lunches” before understanding the perils of this skewed ogre. in striking down this forgiveness, the supreme court – once again – ignored the plight of real people. president biden’s words, “the hypocrisy of republican elected officials is stunning. they had no problem with billions in pandemic-related loans to businesses – including hundreds of thousands and in some cases millions of dollars for their own businesses. and those loans were forgiven. but when it came to providing relief to millions of hard-working americans, they did everything in their power to stop it.” and what about all those tax loopholes for the wealthy?

no, this is not people expecting something for “free”. this is the populace expecting the government to do something about profoundly unethical and predatory actions that have overwhelmed millions of people in this country for decades, that will continue to affect their lives and decisions and their way forward. including us.

once again, as with anything, i would suggest asking questions prior to forming highandmighty opinions. “the power to question is the basis of all human progress.” (indira gandhi)

i only have one pair of socks with words on them. d has a pair too. his say, “if you can read this, get me wine”.

maybe i need another pair – just to get through life…or at least the morning news.

*****

read DAVID’S thoughts this MERELY-A-THOUGHT MONDAY

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sense? [merely-a-thought monday]

there is a vintage mailbox in our bathroom. it’s over on the wall under the window and current magazines and catalogs live there. it was the first mailbox we had after this old house was sided and the mailslot was covered over. there is still a little door inside the foyer where the mail used to wait after delivery, but it hasn’t been used in recent years. for a while i would keep treats in there for piano students as they left. one student, in particular, loved this tiny door and would check it every time after his lesson. if i had grandchildren i would most definitely keep surprises for them in there. a girl can dream…

when i walked into the bathroom the other day it just so happened that the way the magazines were stuffed into the mailbox revealed one word – sense. sometimes the universe has a sense of humor. no pun intended. for “sense” was what i was seeking at that moment. a layer cake of sense.

predatory lending in the student loan arena began around 2000. the arrow of the poison bow hit david in graduate school. it has not let go since. navient – one of the big student loan lenders – took part in subprime loans, private loans, misrepresented loans, aggressive forebearance-steering, sloppy accounting, the list goes on. and people’s lives – real people in the real world trying to make a real living and pay off real debt – have been skewered forever. crushing debt…in story after story in which interest is principalized, in which families aren’t given income-driven options, in which the debt rises instead of falls even as diligent efforts are made to pay down this farce of lending.

i walked into the bathroom – inbetween phone calls with navient during which they were unable to even supply the simplest of information – how doesn’t this feel like withholding while deadlines loom near? i’m gobsmacked by the murkiness of it all. dysfunction rears its ugly head.

“student loans were never meant to be a life sentence,” (united states secretary of education miguel cardona)

2001-2022. that’s a pretty long sentence. predatory indeed.

and now, as we – in our sixties – join in hopeful song with millions of others – of various ages – who have been – thisisnotanexaggeration – victimized by student loan lending malpractice, more than a few things happen. there is a mysteriously quiet change made for privately-held FFEL loanholders, a screeching halt. and then, there is an uprising putting the whole kitnkaboodle on hold.

to which naacp president derrick johnson said, “the very people blaming this administration for inflation are coming after the policies that will ease the pain of inflation on those most impacted.” he adds, “this is hypocritical. when we bail out billion-dollar corporations, it’s never an issue. but when it comes to lifting people who need the help most, including pell grant recipients—51% of which go to students whose families earn less than $20,000 a year—somehow it becomes an issue.”

so many stories. so many we-the-people. so many families. and their general welfare.

but that’s what predatory is.

i rolled my eyes as i walked into the bathroom. “sense”

so much of it all doesn’t make sense.

thinking that it actually might, makes me sad.

i’m going to check the little mailslot in the foyer for a treat. a girl can dream…

*****

read DAVID’s thoughts this MERELY-A-THOUGHT MONDAY