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deniserich

Student loans paid by coupon payt books?

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If you pay your student loans with a coupon book and do not receive a monthly statement, please read my online petition ... mandating monthly mortgage/student loan statements from lenders as opposed to using the payment coupon books. See why this is so important at...

http://www.ipetitions.com/campaigns/monthlystatements/

If you agree with this petition drive, please sign and pass on to others that may be willing to sign the petition.

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That campaign is for mortgages....not student loans. Several of lenders do already send out monthly statements.

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From clarkhoward.com Clark is a Radio show host from Atlanta... this is part of one of his articles on his site.

Student loan payers owe more money - April 16, 2003

Would it be a bargain if you owed a student loan and the company made a math error and started collecting less money from you? It might be fun when you got to what you thought was the end and you’d paid off the loan. But it would be quite a let down when the company discovered its mistake and presented you with a huge bill thousands more dollars. Well, it happened to Sallie Mae, one of the largest student loan providers in the country. It happened because of a computer programming error and is now affecting more than 1 million people. If you have a 10-year variable rate, federally guaranteed loans, including Stafford and Plus loans. If you haven’t started a repayment plan, you are not affected. But those who have started a plan will owe money. It took Sallie Mae six months to find out what was going on, so it will take a while to get the error corrected. The good news is that Sallie Mae is waiving the additional interest on the loans. You still owe the balance, but they will not charge you interest. So, essentially you’re getting the remainder of your loan interest free. Clark thinks this is a smart, fair move on Sallie Mae’s part. You need to remember that the student loan system is extremely inaccurate, so it’s important for you to run your own amortization schedule. And be sure to keep your student loan records forever!

the petition will be presented to our regulators and legislators for both student loans and mortage payments see: http://www.ipetitions.com/campaigns/monthlystatements/

mistakes in the banking industry are like the credit industry, systemic. There wouldn't be lawsuits or the need for sites like this if there were no account errors. Please take a moment to sign the petition. If it hasn't happened to you yet (that you are aware of) it doesn't mean that it won't.

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