The $4.2 billion Pennsylvania Employee Credit Union is getting out of the student loan business, but Harrisburg, Penn.-based credit union’s decision isn’t related to recent criticism directed at loan servicer Sallie Mae.
Student loan giant, credit union client differ with CFPB report of widespread service complaints.
After more than 75,000 people asked Sallie Mae to stop charging forbearance fees to unemployed college students via an online petition, the education-focused financial services company made a compromise.
After 50,000 sign petition, company said it will apply good-faith payments to customer balance when on-time payments resume.
It appears the thousands of petition signers asking Sallie Mae to stop charging student loan forbearance fees to unemployed college graduates are out of luck.