Friday, December 05, 2008

Today's Unemployment Winner and Loser

Winner: The Globe's Names Column

Despite the relentless teasing I gave Boston's broadsheet during my tenure at BoMag, Paysha Rhone very kindly gave me a hat-tip in today's report. And even linked to this blog! Stay strong, my jounalist brethren.

Loser: Sallie Mae

The nation's unemployment rate has hit 6.7 percent last month. (Look, Mom, I'm a statistic!) Certainly debt-saddled college graduates like myself have been calling the company for help. I finally decided to bite the bullet today and ask for my payments to be delayed until I get a new gig.

Turns out, the company charges a $150 fee to defer the loans (which is the equivalent of one of my monthly payments), and then only gives a three month respite.

Three months?!
In the biggest recession of my lifetime? Even the cash-strapped government has extended unemployment benefits. I think the company is going to have to reconsider that course of action. Or else we're going to see Sallie's executives looking for a bailout as all us unemployed young professional default on our loans because of their merciless repayment rules.

Hell, even my landlord said she's willing to work with me if I need to break my lease or can't make my rent. And she has something tangible she can take away from me.


Mberenis said...
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