Comments on: Goddamn. I hate Iowa Student loan people.

By: Dan

Dan — Fri, 06 Jul 2007 19:47:15 +0000

I posted this on the DesmoineRegister because i was so pissed off.
For the record, ISL is a non-profit organization, but that only means this: whatever money they have left after deducting expenses, they get to keep. However, they are exempt from taxes because their status is non-profit. The only way they have an issue with the government is if they do an audit and find that they actually do have a profit and administrators keep a large portion of it.

Here is my personal account of my dealings with this loan entity, and if they treat a borrower as such i have to question their methods and justifications on a larger scope.

After having left my previous college, ISL had put me under less than full-time student status. After enrolling full-time at a different, sending them the same forms they requested numerous times (i think 8 in total, 5 through regular mail and 3 via fax) and they insist they have not received the forms. No only that, when i tell them i have the receipt from the post office that certifies that someone in their department has received it, they repeat the same litany, “I’m sorry sir, but we do not have that on file. If you would please send it to us again i am sure we will receive it.” During this time, of course, my status has not changed and i am still making payments even though i am a full time student and full time working. On 3 occasions i had the school call them directly to verify my in school status, which ISL adamantly denies even though i was right there in the registrar office when they made the calls, and on 2 occasions i requested that ISL call the school to verify my student status. Both times i called back immediately to see if they actually called or not and both times they LIED because i called the school on my cell phone and they confirm that no calls had come in from them. Recently, in the span of 2 weeks, i called to confront them and why they treat me, a borrower, as such. All three times i called, the representative hung up on me, one time right after saying that line “I’m sorry sir, that is not my problem and you should be actively concerned with your own account information.”

THERE IS SOMETHING VERY WRONG/SUSPICIOUS WITH THE WAY THEY ARE RUNNING THINGS.

A year and a half later after i had left my previous school and enrolled in a new school, ISL has my information as STILL ATTENDING MY OLD SCHOOL!!! If they treat me as such, what do you think their opinions are of YOU? Then is it so hard to believe that ISL would use bullying and misrepresentation/misinformation to obtain YOUR tax money for THEIR profit?

By: mike s.

mike s. — Wed, 09 May 2007 16:43:49 +0000

Everybody’s got a bitch when it comes to places that charge for $. What they miss is the fact that without the $ available, they’re stuck. It’s not as bad as some make it, in fact it’s pretty good if you can go and finish school.

By: mickey

mickey — Wed, 18 Apr 2007 14:00:34 +0000

Contact Steve Switzer at the Iowa Attorney General’s office steve.switzer@iowa.gov

By: Dan Wright

Dan Wright — Wed, 21 Mar 2007 18:10:02 +0000

That sucks, you should see if you can talk to anyone about getting them to honor their rates. I have never had a problem with Iowa Student Loan myself, always thought they were a great company, but I guess I havent tried to change my checking account?

By: Jonesy

Jonesy — Thu, 15 Mar 2007 20:36:01 +0000

Are you sure it was not a mistake?

By: Wesabe is neat » Harper Reed: Tech, Phones, Parties, Yo-yoing

Wesabe is neat » Harper Reed: Tech, Phones, Parties, Yo-yoing — Wed, 07 Mar 2007 16:34:45 +0000

[...] started this post awhile ago. But with my brothers angry credit card company post and my angry student loan post, I think a post about how to easily manage ones finances is more topical than ever. So [...]

By: Cedric

Cedric — Wed, 07 Mar 2007 15:23:54 +0000

Can you report government agencies to the Iowa Better Business Bureau? You might want to try it, that’s the one part of Iowa state government that actually kicks ass.

By: Jordan

Jordan — Wed, 07 Mar 2007 06:20:42 +0000

Eesh, that’s ridiculous. As they say at Consumerist, “Escalate!” There must be a VP or someone somewhere in the chain that will honor the lower rate you’ve earned. Actually, you ought to send your story to Consumerist–this is right up their alley, though I’m not sure if Iowa Student Loan as big a fish as they usually deal with.