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Letter To Time
You were had by Tom Joyce on Sallie Mae in your Student-Loan Shenanigans. He lied to you. The whole bunch is nothing but hacks. What they run is a "puppy mill" collection agency. Did he bother to tell you, that their loans were still backed and paid off by the government? And then, they buy those same loans back and use nasty methods at extracting that money out of the students or parents? They receive 25% of all money as a collection agency on defaulted loans. Did you bother to look up, "Sallie Mae+crooks" on google? Did they tell you that they can award you with a greatly absurd interest on loans, ... as much as credit card companies do, compound interest? Did they tell you that they call at all times of the day and night to harass you? Did they tell you that they will generate calls from their computers, like stalkers, and say nothing.
Did you talk to any of the employees, ... on the side? If you did, you would have found out that they make about 21 thousand a year to harrass and threaten parents or students? Did you ask Lord, the CEO, how much he made last year, including stock options? Did he tell you that they threaten to ruin your credit rating? Do you think Sallie Mae representatives were on the Virginia Tech campus to console students? Did you talk to any of the students who owe hundreds of thousands of
dollars? Did you go to the Chiropractic's loan page and read what it says about Sallie Mae? Have you rifled through Internet postings by students who have loans with Sallie Mae? Did you go to ihatesalliemae.com? Did you check to see how many students have committed suicide over what they owe Sallie Mae?
Did you go to opednews.com and read my article about Sallie Mae? Go
to archives and find my name? Time treated Sallie Mae as a hero? Do you think their CEO deserves 3 million dollars, plus 30 million in stock options, for his salary? For a company that just barely makes a half a percent on guaranteed loans, where did they get the money to pay Lord so much? They lied to your reporter, and you fell for it like a sucker.
I have written to both Senator Kennedy and the quirky doctor from Oklahoma, Dr. Tom Coburn, who is supposed to be representing my interests, but is probably doing crossword puzzles. Both are on the studen-loan committee, looking in to changes in that sector. As a 34 year retired teacher, I will give you an F on your article, "Student-Loan Shenanigans." It should have been, "Student-Loan Scams. If your reporter would, please show this to your boss, so you two can re-examine your notes. Time did not fairly represent Sallie Mae.
