Seeking to learn more about the subject of my earlier post, I called the Direct Loan Servicing Center. The lady who answered confirmed that it's not a scam, my loans have been transferred to EdFinancial.
I asked her why loan servicing has been privatized, and to my surprise, she said EdFinancial is not a private corporation but (as I understood her) part of the Department of Education. That seems odd to me (EdFinancial's web address is .com, I note). The lady I spoke to said they simply created more loan servicers because of the quantity of direct loans. That didn't add up either -- if the problem is that the agency needs more capacity to do a job they are already doing, why not expand their existing capacity instead of creating some new entity to do the same thing? Strange. And unnecessarily bureaucratic. And confusing for consumers. I wonder if the CFPB has a division to advise government providers of consumer servicers how to be more consumer-friendly.
I would be pleased if all WebPages provided such articles.
http://www.paydayloan-fast.info/?page_id=12
Posted by: Sir King | Tuesday, August 07, 2012 at 01:23 AM
Selecting the loan that meets students needs may depend on many factors including how much you can borrow each year,how you get the loan money,which school you are attending,and eligibility requirements.
Posted by: Low doc home loans | Wednesday, May 16, 2012 at 05:48 AM
EdFinancial used a business-to-business strategy and communicates directly with financial aid administrators.
Posted by: home loans | Wednesday, May 16, 2012 at 05:32 AM
Students should get loans from private banks. If left alone banks will assess the risk reward of a student loan.
Posted by: credit cards | Wednesday, May 16, 2012 at 05:23 AM