Aside from my visa journey and the IMBRA processing, here is my other hell:

http://www.youtube.com/watch?v=PPv-zQTgZmA

Wish I had something to tell you...have you tried talking to a lawyer? Legal Aid? Hope you get this resolved.

z,
Beat feet to www.clarkhoward.com and read everything he's got on student loans and refinancing.
Schedule a time to call his team after you've done your homework.

I will, thanks guys for your support. I would really like to get the word out about this as much as possible. It's sabotage.

When I first get out of the army I wanted to get into the telecommunications industry so I enrolled in a school that advertised just that. I had no money because I spent my army college money on a drum set so they enrolled me in a student loan program.

After a few weeks I started seeing that this school was a fraud and it's main goal was to solicite government loans. During the class the instructors would actually give us the answers to all of the questions before the test. It was necassary to keep all students passing so they would continue to receive their funds. Once, our instructor actually left in the middle of class to go to another job interview. That was pretty much the last straw for me. I walked out of the class disgusted, but worried that I would have to pay back this loan. To my suprise, the school had dropped all record of my enrollment and I never had to pay a thing. I'm thinking it was because I had a perfect grade until the point that I dropped out and they thought it would be suspicous to report this, but I'll never know.

There are a LOT of scams out there when it comes to education Our neighbour just about got railroaded into one of them - she wanted to do a book-keeping course in the evening to improve her employability and the 'course advisor' pushed her into signing up for this incredibly expensive loan (like 6-8 hours a week tuition for six months is really worth $20,000!) Fortunately she came to her senses almost as soon as she got home, and she was able to withdraw from the course (and the loan) rather than getting stuck with it!
I'm sorry you got done

Did you borrow this money? Or not? If you did then you have to pay it back.

Not sure why you call Sallie Mae a scam. You know exactly what you are getting into if you read the terms of the agreement before you sign on the dotted line. Before I went to law school, I knew exactly what my monthly payment would be based upon the amount and number of loans I took. It's a big chunk of change every month, but I knew that going into the situation. It's a good thing I was fortunate enough to find study employment, many of my classmates were not so lucky. Financing an education is always a gamble. Can't get a job without a degree, but can't get a degree without a loan, that's the catch-22 that many of us face.

I originally had my education loans with Sallie Mae as well and I did end up pretty angry about the way I was treated there and have since closed out the loan by borrowing from a home equity line and am paying that off instead. However, I would have to agree with some that if you read the contract carefully before borrowing your money, you should know what you are getting into.
My issue with Sallie Mae was that they charged me some bogus insurance fee of almost $400. I started to repay my loans while still in school to try and keep them manageable. By the August after I graduated I had paid over $1000 and still owed more then I originally borrowed, then I got notification of the insurance fee they were adding. I tried contacting them and they never really explained what that was all about and made it sound as if they could do a similiar thing in the future, so I got out. The loan never actually got to the repayment stage with me so I can't speak to them upping the rates or changing terms of the contract, but if they didn't do that, they didn't do anything wrong...

Why are you complaining? You borrowed the money. Stop making excuses & drama...'they may as well kill me now'

YOU agreed to loan the money...you knew the rate...you knew the payment plan.....as per interest....erm, if you're late, your rate goes up.

You're blaming the school cos it was crap, Sally Mae, etc....you borrowed the money, you TOOK the money, so pay it back as YOU agreed to.

You know, you are very cut and dry, black and white about most things and usually it's down right perfect and spot on. But sometimes it really pisses me off. No offence, but going by this way about everything is why we are in the situation we are in, in the USA today. This kind of thinking allows companies like Sallie Mae to do what it is doing right before your very eyes.

Did you happen to view the video? Do you happen to know that this is primarily THE ONLY WAY TO GO TO SCHOOL? School is so expensive, that unless you are one of the privelaged few with parents who can pay all or part of your student expenses (I had none) and you had scholarships and grants to take care of the rest, you are getting a loan? 70% of all students MUST get a loan!

The loans you take, even with other companies who seem safe, are bought out without your permission by Sallie Mae at some point just like mine was. So it doesn't matter how careful you are. The money I did borrow, at 9% interest was about $25,000 less than they say I now owe in the principal. The tuition was $38,000. It's over $60,000, with lifetime payback of over $300,000. Plus at one point my interest was 27% when they had 17 loans open under one account to artificialy inflate my interest by decreasing my credit rating each time they opened a new loan. It is curently 18% because they have consolidated these 17 loans into 5, and my credit has rebounded slightly since.

I suggest watching the video. Then maybe see if you have the same opinion. If so, we are already in more trouble than I thought. Because you are not alone in this way of thinking. edit-as is aparent by the other ignorant posts already here.




Alright smartypants, I was told $400 per month. Far cry from the $1078+ Sallie Mae wants. I bet your loan is close to mine, but still not that high per month. My FICO score was over 800 when I started, they opened separate loans on purpose to push my credit risk higher and have an excuse to make the overall interest rate much higher and charge me upwards of almost $100 per day in interest for a period of time. I had a higher interest rate starting (9% rather than 5 or 6) because it was a larger ammount and I was applying on my own without a co-signer (thank God, or they would have taken my Mom's house), or so I was told. I don't have much to go on except the deception that was given to me. I didn't have time to do heavy research and "find the truth" about this loan company. Especially because I wasn't even dealing with Sallie Mae at first.

it is cut and dry .. this guy said he only needed 35k and they opened up 65k .. pay attention .. if you didn't want the other 30k then you shouldn't have taken it and used it.

Yes loans are bought out by other companies that is right.. but serious .. I am not commenting on your situation zethris but this guy .. sorry pay attention to what you borrowed.. its a loan .. subsidized and unsubsidized.. you agree to the loans when you get it..

They change the terms of the contract by paying off congressment to make what was previously illegal, legal. Such as wage garnishment, Demanding of termination of employment, forfiture of Social Security Benefits (Which they have already taken) forfiture of any and all tax returns for the rest of your life (luckily I have witholding set at or around what my income would be taxed so I break about even), no other loan, or student loan comapny can do these things the only thing that is similar with the other student loan companies is that you can't file for bankruptcy to get out of it since too many people "abused" that to get out of it and making the government pay.... oh wait, they do anyways plus an additional 25% extra if I have to default.

These are not exaggerations, these are very real things. It has gotten so much worse since 2003 to get a student loan, no one is safe!





I did not agree to the loan money, I agreed to the tuition ammount to be borrowed, not an extra $25k that came out of nowhere. I used a fraction of that because I disenrolled shortly after. Yet Sallie Mae claims they never recieved the funds back, and the school doesn't talk about tuition reimbursement.

You people are real rich, you know that. Seriously oblivious.

Money doesnt just disapear.. there are tracks.. if you dont track where the money went then you can't complain.. Sallie Mae is charging for funds that were dispersed.. if the school doesn't show record of giving it back its the schools fault.. if the school shows they gave it back its sallies fault.. you must do something about it.

I am not sure if you are referring to me or not. But I did not agree to the ammount they are saying I owe, I agreed to the ammount, and the interest rate, and the montly payment I was told when I signed the papers. Which is $43,000, 9% interest, and $400/mo. They have somehow come up with an additional $25k, and an extra 9% (at one point 17% more), and over $1078 per month, plus $150 payment processing fee each payment I make.

Furthermore, when I realized they were turning that school into a certification farm, rather than a credible school (they were on probation for about 3 months while I was there) and packed that school with students that had these loans which were either secretly already owned by Sallie Mae, or later to be sold to them, I quit after being there for 6 months out of 15. I disenrolled, and I signed a paper saying that the rest that is unused is to be put back. Sallie Mae claims they never recieved it.

Student loans can only be bought out by Sallie Mae without permission. No other loan company can buy out, without your permission, your loan unless it is stipulated within the contract that they can auto-consolidate your loans for you. Sallie Mae is the exception to that rule as they have legistlation to allow them to do that.
They can pay a loan company $5,000 or $10,000 to buy an account and make the person default based on the tax records showing how much they can afford per month, and pricing the monthly payment beyond that. Once someone like me defaults, they collect all they can from me, but saying over 80% of what they take go to "fee's" so that they can keep the principal unpaid as much as possible so that when they put me out of house and home and can't take anymore, they collect the remainder, (usually only a couple hundred dollars difference) from the government, plus a nice 25% extra.

There are no unsubsidized or subsidize loans outside of government stafford loans. Which don't pay more than a fraction of school tuition anymore. A growing number of us need to get student loans. Now more than ever. Tuition is through the roof, scholarships are harder to get because there are more of us as children of the babyboomers, and no matter what you do, if you are of a ceartain income level, Sallie Mae will poach your account like they did mine and attempt to almost kill you for the sake of making a few thousand dollars.

I don't have a credit card with more than a $200 limit for emergencies. Never have. I had perfect credit before. Always pay my bills on time. I have dealt with some stinky car loans (WFS financial is one example) but at least they were willing to work with you on your payments.

I have reason to believe that the reason I had trouble finding employment in Las Vegas in my line of work was because of my artificialy inflated credit risk. It is their goal to keep me out of a job, there are no forbearances if I don't have one like with a stafford loan. There is no grace period, if I am even a day late, I get hit with a $173 late fee. If I happen to send less than the current monthly payment, which can change at any time, even durring a pay period, they can reject my payment by sending the check back to me without further explanation, and force me into being late.

Earlier on, I tried sending what i had thought my payment was. The $400. The checks always came back, and I couldn't figure it out. Call the limited contacts I had, they were clueless. I just found out about how serious this was on Friday because I had checked an e-mail address I hadn't used in 2 years and a bill just happened to be in the inbox with some bogus home address that never existed. Yet they have it on my credit report as a place of residence so they can say they have made all efforts to contact me.

Listen carefully everyone, this is not a game, this is not an overreaction. These people are worse than any legitamit loan company out there. Worst than any home loan, car loan, credit card account you could possibly open. They are worse, short of the guns, knives, and baseball bats than loan sharks!


Look, read http://studentloanjustice.org/ and read the victims area for other stories that sound surprisingly similar to mine. Many didn't even do business directly with Sallie Mae, like me. I am not a loan officer to know all the in's and out's and random laws passed that would have made me not want to sight what I initially thought was a very reasonable loan at first.

I plead with you people to find the merit in this complaint, and stop summarily dismissing it out of whatever prejudice you may have that is allowing these people to do this to us. This is a real serious issue, for a growing number of people. Most likely our future children. I am terrified of what my brother will have to do, because even if he does great in school, which I know he will, he wont get enough from schollarships to pay for college by the time he goes.

The school can say, and provide documents that money was paid back to Sallie Mae, but Sallie Mae has to officialy confirm that, that happened before it's official. Which for some, they don't. Unfortunatly, the school I went to doesn't provide such documents to me or anyone. They wont even tell me what they did.

For all I know, they kept the money, and if they did, according to Sallie Mae "I am ultimatly responsible to pay." The latter being almost verbatim of what i was told on the phone.

They can cook the books and say I attended for the full 15 months, but didn't meet sufficient grade point average to graduate. More and more schools do this. They balance GPA's with all students to stay elegible for acrediation, and keep the tuition of those who disenroll and say they attended the full course but just didn't recieve a high enough grade point average to graduate. When they first started doing this (3-5 months after I attended, when they started enrolling hundreds of students pulled right off the street. We went from 800 to 3500 in 2 months, which is when I left shortly after.), I have a hunch they were not very good at it yet and so they went under the minimum requirement and thats why for a time they lost their acredation or were in probation for the Le Cordon Bleu AOS/BOS degree program.

You see, Sallie Mae will collude with schools. Give them kickbacks to offer only Sallie Mae loans, or one of their underling companies that they secretly own, or frequently buy loans from. They then will turn the other way when they recieve notification from me that I disenrolled and will soon need to start repayment.

The above suspicion comes from the fact that I should have been starting my repayments in 2005. Not April of this year. So thats why I beleive the school is claiming I was enrolled the whole time. Can I do anything about that? apparently not, even if I can show proof my residence changed. They can still claim I was a student there the full time.

What it ultimatly comes down to is this:

Avoid student loans at all costs. Also, take the e-course instead, it's cheaper and if you do need a loan, you can pay for it with a stafford or federal loan. Your job really doesn't care anymore how you got your degree. They almost don't care more than if you have a degree in general, your work experience is what matters these days.

You don't have to go to a prestiguous school in the industry of your choice like I thought I had to. It will cost more than other schools making the need for a student loan much more appealing. Get the degree and then go out and get the experience and you can get any job, but free of excruciating debt.

Don't fall into the trap I am now in. Any student loan of any kind is not safe anymore.

They say go to college, your yearly income will be more. But if Sallie Mae has it's way, you wont be making any more after school than you would be if you worked your way up somewhere on your own.

You know what's wrong with USA today? there's no accountability. Take responsibility for your own financial situation.....you borrowed the money, you pay it back. And your financial documents should be such that if you DIDN'T get the full amount, you should be able to prove that.

Don't you even know how much they gave you? Don't you have documentation showing where the money went? It seems you're all over the place....blaming everyone but yourself. Is it anyone's fault but your own that you seemingly dropped out of school? No, for whatever reasons you chose to do so, YOU CHOSE TO DO SO. If there's an overage in the loan, there should be a paper trail......so instead of trying to create this 'Sally Mae is a thief' bandwagon...sort your paperwork & actually do something PROACTIVE and responsible about it.

Yeah, Sally Mae is a scam cos they're actively pursuing debt repayment, go figure.

Who's going to care for your financial situation more than you? No one!

I have my student loans with Sallie Mae, and so far no problems. I better watch that video though...

My only complain with my student loans is that they were in forbearance while I was overseas and couldn't make payments. Then as soon as they came out of forbearance I got slapped with the $2,000 accrued interest payable immediately. It was kind of harsh considering I had just come out of forbearance. I thought they would have made some accomodation to spread that out a bit. But I just sucked it up and paid it.

Sorry, but I have to ask, why didn't you borrow from stafford/federal loan then ? AFAIK, federal/stafford loan will cover any kind of course (not only e-course as you insinuated).



Hmmm... it depends, prestigious schools (I mean Harvard, MIT, etc) will give you networks of alumni and open doors that might not be opened for you otherwise. In this situation, the risks might justify the benefits, of course you still have to be very careful when choosing the company that offers you loan. Just my opinion.

I am paying $50/mo for the maximum Federal loan ammount someone can get for school. Next question...

No, prestigious schools mean nothing in the job market anymore. That marketing brainwash is all part and parcel of the problem. I had a friend graduate from MIT, and another from Cal Tech with the same degree. Guess which one works for NASA now? You can come up with any excuse in the book on why that is, it is irrelevent. The fact remains, jobs do not care what school you went to, just as long as you know the material and have the experience to back it up.




Yes, continue to be an a$$hole, that will get you far in life you pond scum.

Does it only piss you off when my opinion doesn't suit you? Yes I saw your video.

You need to simmer down. You loose all sorts of credibility around here when you start calling names.

I would think that this would depend on the industry in which you work. I know that in mine, and all else being equal, an employer would rather hire someone from a "top school". It is especially true at entry-level, when no one has much experience to speak of.

Sure, 20 years from now, I doubt any employer of mine will care where I went to school. But right now, it matters.

If you want to call me names for advocating you being a responsible adult with your affairs, then there's nothing I can tell you.

Jeez, it's nothing personal, but all you're doing is whining about things...sorry, out of lollies and rainbows today. You want to resort to awful name calling, well...that just kind of shows the person you are. I don't know you, I personally wouldn't dream of being so classless as you are, but I suppose this is the temper tantrum cos you didn't get everyone to validate your lack of responsibility.

Oh, I get it, you wanted everyone to be all 'oh you poor baby! you've been robbed!' Sorry, can't do it....call Oprah maybe? If not, I have a feeling you're headed for Chapter 7 cos God forbid you do what you agreed to do!

Still haven't decided whether or not to report your post....it's completely uncalled for, but at the same time, I love how you've shown your true colors there....yeah, you're a real gem there buddy!

Before you take on any loans it is down to you to check out what you are getting into....

Now you have got yourself into a mess... at your own doing... its down to you to sort it out.... there is no point in being hell bent on blaming everyone but yourself... do the adult thing and sort out your mess and learn from this.....

Kezzie

Have children you miserable wretch. See them suffer even more when things are worse at the time
they turn college age and graduate. You presume and assume way too much. I am taking responsibility, as it should be, but only for the ammounts that I was expecting as that was the only information ANYONE would have had to make a supposed educated decision.

You are probably the most ignorant person on this entire board, and aparently you are a regular here and not just some random troll.

Frankly, I wish great suffering on you and your children. At the very least, similar to my own. I hope that they are driven to suicide like others have been. Then you might see the seriousness of this. You are nothing more than a kool-aid drinking pig. Nuff said.

Reported......

Wow!

That is the assumption that is getting more and more of us in credit bondage. Especially in regards to student loans.

I'll say one last time. This time louder for the def minded: I DID NOT APPLY WITH SALLIE MAE. I HAD A GOOD LOAN THAT WAS MANAGABLE AT FIRST BUT SALLIE MAE BOUGHT MY LOAN OUT AND HAS JACKED UP THE PRICIPAL HALF AGAIN FROM WHAT IT SHOULD BE AND IS CHARGING ME OUTRAGEOUS MONTHLY PAYMENTS AND FEE'S ON PURPOSE TO FORCE ME TO DEFAULT

Get that through your thick sculls!!

I am doign the adult thing and gearing up for legal action. Are you going to tell me protecting my life and livelyhood isn't the adult thing to do? I am accessing all of the resources I know to use, with what I have left.

What is going on here is NOT ethical. Is NOT honest.


Any more of you total sheep have something to say? Well, I end this conversation with one last thought in the same realm of what i posted to that lisa jerk...

Good luck to your children who will have to get a private loan to go to school, and will end up in the same boat. Ignorance does not lead to bliss in this case kool-aid drinkers. You are ruining yoru childrens, and unborn childrens lives as you blather on about your choir preaching "take responsibility" mantra.






Yes exactly. Wow. You are shocked because your arrogance was stepped on. Wow. You are taken aback at the obviouse result you were milling for with your ignorant comments and fat mouthed remarks. Wow. Good luck in YOUR life.



Do you honestly think it will go anywhere? I have right to be angry. And I have right to be disghusted by people like you. You are fantasically a disgusting person. Please, take that personaly.




Yeah i'll simmer down. I don't care about credibility. I wasn't expecting much. This problem is only happening because of the majority ignorance and obvliviousness of this country toward student loans.

It was once thought, outside of home loans, that a student loan was the safest, lowest intereste rate loan to get. since 2003, thats no longer the case. In fact, Student loans are the worse to get, most dangerous and life damaging loans one can get.

I am farking pissed off beyond beliefe. And if I lash back at some ignorant comment, so be it. I do not care one whit.

Yes you may have a right to be angry..... but you do not have the right to personally attack people for stating their opinions.... you say you are doing the adult thing.... but you continue to insult people and act like a spoilt child who is not getting his own way....

I have already help both my childern go to college so your threats have no effect on me....

Kezzie

So that is it then. I'm done here on this issue.

Just good luck with that kool-aid drinking lifestyle, best of luck to your kids.



Well the privilaged few then have no comment to make on this topic. You are even more disgusting than I thought. You helped/paid for your children. How nice. I have already stated my situation, and the situation of most others. We don't all have a daddy/mommy warbucks to pay our way. Shut it and move onward to hell.

NOW I'm DONE.

The 'wow' was because I was stunned at what a malicious azzhole you are. You're obviously quite upset, and have no real adult skills on how to handle that

Best of luck in life...you are most certainly going to need it!!!

I am very proud to say that both my children paid for themselves to go to college... I helped by offering support and guidence when it was needed to help them make the best informed dissisions along the way.... I am very proud of them both..... thank you..

Kezzie

If Ewok reads this since Kez reported it, I would like to say that I personally vote to keep the thread as it is....

When ppl show you who they are, believe them! And this thread is a perfect example of such!

Kezzie, he said you were disgusting because you helped your children, lol....

All I can say is that I am sorry to the rest of you for how I said what I said, and in the tone I said it.

However, I still stand by what I said about Kezzie and LisaD. I am disghusted by these people. I am sorry you got the brunt of the rage in my words on this issue, but the facts within them about your characters still stand.

I do not buy for a minute that your children paid for themselves, unless they went to a city or cheap state college in some parts of the country. in which case, thats a good choice on their part. You made it sound like you paid for their college education.

So go ahead, continue with your blathering now that I am not discussing this issue anymore. Those who read this and truely read it that arent puppets will see that this is a problem and might do something about it, or at least be very carefull with their children.


And you know what, now that I am calming down, I am sorry I fell for the flamebait. At that, I am embarassed.

Fact of the matter is, I just came here to raise awareness. I didn't say I wasn't going to make all attempts to pay. I didn't plaster some website that will ask for donations. I didn't do any of that, nor do I plan to.

I am sorry to you all.

He does have a point about NOT taking the original loan out with Sallie Mae. Mine was also bought by this money-sucking whore of a big business about six months after I graduated. But my stand on education and loans being a gamble still stands. You have to do research and fully understand what your chosen school and degree program you want to pursue might do for your future. And then do research on the pay scales of potential jobs with this degree. Let me tell you what, I'd be in a pickle now if I had failed the bar-exam and couldn't have found work upon graduation. But I took the risk and I was very lucky. And I do NOT buy any argument that the prestige of your school has any bearing on your ability to find work. I went to a school in the lowest-tier of existence and managed to find my niche in life. Becoming established will also take time and persistence. I had to forbear my loans for a couple years until I finally settled into a job where I made enought to afford north of $500 a month in loan payments.

I am sad Ewok removed your post, for it shows you for the crass & contemptable person you really are.

Ok now let me get this straight. Having the ability to pay for ones childrens education makes them 'priviledged' and 'disgusting'.

And it's also not possible for a student to put themselves through school unless they attend a 'cheap' city or state college.

You, Zethris, have an entitlement mentality. You need to get over yourself.

My 18 year old son recently got a 29 on his ACT straight out of the box first attempt and has already qualified for the WV Promise scholarship. At 18 he has more maturity, class and style than you, probably a higher IQ, and could kick your sorry ### to the curb.

ita with you here, cept loans are bought and sold all the time....it frees up the capital to make more loans. But getting your loan sold does not mean that half of the principle is added ontop of the remaining principle.

Correction on a previous post...Ewok hasn't removed anything thusfar, I must have just missed it!

Well in 4 to 6 years when reality sets in, you will be wondering what happened to me when your son is still
living at home working full time in order to pay his loans he is going to have to get, unless you pay
for it.

In which case, removes any points of your arguement what so ever as only a select few can pay
for their childrens education. A vast number are part of divorced families with deadbeat dad's raised
by mothers who have to work hard to barely get food on the table.

A growing number of students of even affluent backgrounds, still have to get a student loan due to the very high cost increases of going to school is. By the time my brother graduates, the tuition will have increased by 20% across the board, and the over all expenses 25%. That is the current trend. That is the reality. Good luck to your son with it. He will need it.

My son's education?

Read the word 'scholarship' Zethris.

You get those from hard work - not sitting on your behind whining about what you THINK you have coming to you.

File for Bankrupcy after 7 years, you can start to make a fresh start!!!!

I don't think you can file on student loans

Someone needs to throw the brick of obviousness to your head so you can maybe get a clue once.

In rebuttal, but not in direct response to this preposterous ignoramous, loans are not bought and sold all of the time, once it goes to Sallie Mae, it stays there. It is a one way street. Up until may 1st, you were not even allowed to try to refinance, or consolidate with anyone once you were with Sallie Mae. But they have made sure the rates and interest is so outrageous that no other company wants to touch it.

What I found out on todays call:

Capitalized interest, which gathers while you are in school and shortly after gets piled on top of the existing principal, becomes the new principal, and then the interest over the life of the loan is tacked onto the monthly payments. Coupled with the hidden fee's, monthly insurances, random late fee's, etc. also added to the principal via them opening other loans to pay for it under your one account, that makes for quite a heafty monthly payment that most can't afford.

Yet I could have if I was not sold without my permission to Sallie Mae because non of these outrageous circumstances would have existed.

Obviously, ceartain people here have no sense, bottom line. So the only reason they keep talking is because they are just as immature as they are saying I am. Well I admit, I had a moment for a while there when I was infuriated, just as they wanted me to be, because of the fear and the fury I have within me not knowing what the heck I am going to do about this. I did NOT ask for these problems. I was as careful as anyone could possibly be, yet here we are.

Compounded interest, not capitalized.

Coumpouding happens with every loan. The longer you go without reducing the principal the more gets added to the balance.

Pay attention to what you are posting before you look even more foolish than you already do.

zethris... I would like to ask you a personal question....

If you are in such a financial mess.... how do you think you are going to afford all the immigration fees that you are going to have to pay.... and how will you be able to sponsor your SO and afford to live once she is here????

Kezzie

He won't. And he'll blame it all on someone else more priveledged.

...and how was he able to afford the trips overseas. ...and how is it that he can look for better accomodations for his fiance to the tune of $350/mo.?

... and since when are late payment fees random? Don't they only get tacked on when you miss payment dates?

His use of the term "capitalized interest" was correct. It specifically refers to accrued interest being added to the principal when a monthly payment is insufficient to cover the interest portion of the payment. You may have heard of negative amortization.

God I wish my rent was only $350 a month.... come live in Boston and see what you can rent for $350 per month.... I shed to keep a rabit in maybe... We have to pay $1900.00 per month for a small 2 bed townhouse...

Kezzie