Reports by Consumers

Was this sale of a student loan portfolio a good idea for consumers?

The incentives they offer to customers in good standing, as well as their helpfulness over the phone, make them one of the less painful bureaucracies I’ve had to deal with in the process of paying for this godawful expensive education of mine. So I was annoyed a month or so ago to get a letter informing me that one of my loans was one of the first batch sold off to Sallie Mae. The explanation at the time seemed good (to fund new scholarship programs), but this Trib investigation casts some doubt on it.

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