If You Don’t 'Like' Your Student Loan Servicer on Facebook, You Will Default
from the social-media-fail dept
With graduation fast approaching, maybe people are coming to the startling realization (what took you so long?) that they’re going to have to figure out a way to pay off their student loans. Sure, it was fun to have government monopoly money to play with while you were in law school — maybe you had a weekly shoegasm at DSW; maybe you repeatedly blew your wad at Game Stop — but now it’s time to face the music.
Unfortunately, when it comes to debt repayment, the soundtrack that’s playing on an infinite loop in your mind is from the shower scene in Psycho.
Whether or not you’ve got a job lined up, you know for sure that your starting salary is nowhere near high enough to allow you to both live indoors and make monthly payments to your loan servicer. You’re scared that you’re going to have to moonlight in retail, or worse yet, move back in with your parents.
All you know is that you really, really don’t want to default on your loans. Your credit will be shot. Your phone number will be scrawled on the bathroom walls at collections agencies. Your life’s work will be all for naught. What the hell are you going to do?
Don’t worry, friends. Your loan servicer has a secret to share on how to avoid the disaster of default….
We recently received a tip from someone who’s about to graduate into a job market that’s still pretty rough around the edges. His loan servicer, Great Lakes, sent him an email letting him know how he could successfully pay back his debts. Here’s his take on the absurd message he found in his inbox:
Who knew that all it took for me to pay back my loans was “liking” them on Facebook? I guess I can stop hunting for a job now.
Without further ado, here’s the image that served as the entire body of the email from Great Lakes:
It’s as simple as connecting on social media sites! This shouldn’t be too difficult for the Millennials.
P.S. You didn’t stop to think that you’d be less likely to default because you gave the company another way to hunt you down and harass you? Aww, that’s cute, but really, how embarrassing for you.
More stories from Above The Law
- Cybersecurity Bill Allows Employers To Seize Employee Facebook Passwords… Wait, What?
- Judge Not Lest Ye Be Judged (By an Ethics Panel)
- The Lawyers Representing Dzhokhar Tsarnaev
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: student loans
Companies: great lakes
Reader Comments
Subscribe: RSS
View by: Time | Thread
[ link to this | view in chronology ]
Unlawful direction
Not following an unlawful direction surely cannot be grounds for dismissal.
[ link to this | view in chronology ]
Bid on Kids
[ link to this | view in chronology ]
....................................................
[ link to this | view in chronology ]
Law school loans
[ link to this | view in chronology ]
Re: Law school loans
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Now THERE is what your law degree is for!
Step 1) In Federal Court be declared indigent.
Step 2) With the free Discovery you begin proving that the default is retaliation. Dig Deep in them records Girl!
Step 4) Profit from the settlement.
Now all one needs is an actual case of Public Diss'n == defaulted loan.
[ link to this | view in chronology ]
That gives me an idea...
[ link to this | view in chronology ]
You can't 'default' on student loans, it's illegal
No you won't go to jail, but if you go bankrupt because you can't pay off your student loans, the bankruptcy court are barred BY LAW from even touching your student loans, even if that's 100% of your debt.
Blame their lobbyists, student loans are basically a can't lose deal for banks. Even if you die right after graduating college before you can start earning money that STILL doesn't void the student loan debt. They can legally go after your family or whoever inherited your stuff for your student loan debt.
[ link to this | view in chronology ]
What they can do
There is a simple solution, new graduates can leave the country for Europe or a good number of other places that want educated late 20 something's. I think this will become more common or even planned as students continue to get shitted on by the job market.
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Inaccurate graphic
[ link to this | view in chronology ]
The after-market companies for defaulted student loans also spend money for lobbying congress for a better cut of the pie and other schemes and additional methods to prevent other government services if in default. All they have to do wait for another student loan 'reform' bill/act/legislation
Life is as beautiful as it is horrible and in life and death things happen. Families break down and people are left with no one to take care of them. Businesses are formed and many wither before 5 years. Its kind of normal that way.
Why do they get special rules in debt preservation that other companies do? Thats why bankruptcy exits. It cant be helped. Its easy for a millionaire (a large percent of legislators) to forget how dirty the gutter is. Its unfair that student loans are treated differently for many reasons.
Whatever cries raised by both sides whether is accusations of loan sharking or students ripping off the system we tend to forget is about people being able to recover from inevitable happenstance of health and physical disaster. (natural or otherwise.)
It sets bad precedent. Its a surely a wrong direction for government. Insert “slippery slope” argument here ( ).
[ link to this | view in chronology ]
[ link to this | view in chronology ]
some more good information. Please add more good information
that would help others in such good way. bank-ruptcyfiling-articles
[ link to this | view in chronology ]
This page has been infested with comment spammers!
[ link to this | view in chronology ]
thanks to dr hoodo
[ link to this | view in chronology ]
Re: loan offer
Huh. According to your gravitar you are also "Anna Anderson from United Kingdom".
I wouldn't trust you with my cat's litter box contents, let alone my money. Just sayin'
[ link to this | view in chronology ]
Loan Offer
[ link to this | view in chronology ]
Dating Hook up
Do you need a sugar mummy or sugar daddy,sugar girl,sugar boy,gay or lesbian
just contact me and i will help you +2348159707974
[ link to this | view in chronology ]
Been Here Before... thats forsure.
Hope this helps someone as it really did help me out of a huge financial hole.
[ link to this | view in chronology ]