Sallie Mae's Stupidity: Debtor Can't Make Monthly Payments, So Queen Bee Demands Money Be Paid In Full!

AEM has written about this typical scenario over and over again. A debtor will inform Sallie Mae, or some other student lending leech, "I can't pay my monthly payment." The debtor will also try to negotiate with the lender. That usually doesn't work. So then the lender sends a threatening letter, demanding the student loan debt owed must be paid in full. Uh, yeah, that makes a lot of sense. They then slap a bunch of penalties to the original amount, so something that began as $50,000, like this particular example, winds up being $100,000 or more.

Stupid. Just stupid. When will this country comes to terms with the fact that usury is destroying its citizens and our ability to be productive globally? Oh, wait . . . never mind. I also saw what happened to that stock market today. But I know what will fix that! We obviously need more austerity measures and cuts to "entitlement" programs. Welcome to Great Depression Deux.