The woman worried she could lose everything — but a stranger from the internet offered to help.
For almost a decade, the government took hundreds of dollars each month out of the paychecks of a Florida woman named Michelle to recoup old student loans that were unpaid and overdue. The process, called, is legal, and the U.S. Department of Education can order it for someone's wages, tax returns and Social Security to force repayment on defaulted loans.
So, when Michelle opened a letter from her alma mater in July suggesting that her Perkins loan repayments were"severely past due," she was stunned. Even more confounding than the bill itself was the amount it said she still owed the school: $955,000.02. Michelle received a letter from the University of Florida, dated July 22, 2022, which suggested the unpaid balance on her student loans was almost $1 million.Mayotte is a regular in the site's r/StudentLoans subreddit, where people share personal experiences and tips as they navigate daunting repayment schedules amid changing debt relief policies under the Biden Administration, and frequently uses it to connect with people who need advice about their loans.
A spokesperson at ECSI confirmed the calculation issue and acknowledged in a statement that the company"sent letters to a small number of borrowers reflecting incorrect amounts owed on their loans" over the summer. "They said they never received it," said Mayotte. She noted that, in her experience, miscommunication is common between Perkins loan borrowers and their loan servicers, despite company policies that technically require loan servicers to send borrowers monthly notifications about their bills, especially when they are past due.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Body found in Florida identified as missing woman believed to have been killed by her husbandThe body of a missing Florida woman who is believed to have been killed by her husband was found in a wooded area of Miami-Dade County, police confirmed Tuesday night.
Read more »
South Florida hands St. Joseph’s its second straight lossSt. Joseph’s went 0-2 in the Sunshine Slam tournament in Daytona Beach after falling 75-62 to South Florida on Tuesday night.
Read more »
Opinion | Florida Rejects the CDC’s New Opioid GuidelinesFrom WSJopinion: We are beginning to learn from our mistakes in the opioid crisis and take steps toward a brighter future. Now isn’t the time for the CDC to relax its opioid recommendations, writes Kenneth Scheppke.
Read more »
66-year-old Saint Johns man plenty thankful for $2 million Florida Lottery jackpotJames Moon of Saint Johns claimed the $2 million top prize from the Jackpot Triple Play drawing on August 19.
Read more »