CNN —
The Department of Education announced it will use “secret shoppers” to help monitor the student loan repayment process, as payments for millions of borrowers restarted last month following a pause during the Covid-19 pandemic that lasted more than three years.
The entire system is a disaster. The vampires cannabalized each other during the pause. Collection infrastructure is a disaster, and it’s going to destroy the credit of at least two generations.
Probably by design. Just assume maliciousness these days when it benefits the rich.
I don’t understand what you mean by “vampires cannibalized each other.”
loan servicers were consolidated, during the pause when they weren’t getting revenue back. The big ones bought up the little ones.
keep in mind, the federal government wasn’t actually loaning the cash out- they just garunteed it. Kind of like getting a parent to cosign on a car loan.
Gotcha thanks for that