I Learned Something The Other Day About Student Loans... [View all]

[global1]

This former student has a 6 figure student loan. Been paying on it for over 10 years and the payments only cover the interest and hasn't touched the principle.

I asked if she has gotten any relief thru Biden's efforts and here's what she told me.

Her student loan was sold to another company and because this company was not a 'student loan sanctioned' company - it doesn't qualify to be able to be paid down by the government.

She is stuck to pay this loan off without any help from Biden or the government.

Has anyone else heard about this problem? Is it legal to sell a loan to another loan shark company? Does she have any recourse with this company?

Any advice you can post here would be appreciated.