As if student loans weren’t annoying enough already, one family over in Ohio received 55 THOUSAND copies of the same payment statement – and on top of that they got the interest rate wrong.
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The student’s father Dan Cain says he became suspicious when the postman told him his mail wouldn’t fit through the front door and so he’d have to come collect it from the post office. When he turned up, a postal worker wheeled out 79 bins stuffed with about 700 letters each – a total of 55,000 copies of the same letter.
The cost of sending all those letters? Over $30,000.
The letters were from the College Avenue Student Loan Company. The company had intended to send Cain and his wife a statement for a student loan they took out for their daughter’s tuition.
Compounding the mistake, the 55,000 letters had an incorrect payment amount, according to Cain. The company used the wrong interest rate to calculate the payment, he said.
— CNN (@CNN) February 4, 2020
What an absolute shit-show. All that paper wasted and it probably cost more to send it all than what was due on the loan. If I were College Avenue Student Loan Company and wanted some good PR while this story is still out there they should just wipe out this girl’s student debt and make a big deal out of it. The company blames an ‘error in its mailing system’ but it’s still pretty amazing that no one realised 55,000 letters were being sent to the same address.
A US Postal Service spokeswoman said the delivery of 55,000 letters was uncommon.
Um, no shit. As for what Dan and his family are going to do with those letters:
“I just may start a fire, a bonfire, and burn it all,” Cain said, laughing.
What a dick, recycle them! Although no doubt having his daughter invite a bunch of her uni friends over and making student loan letter bonfire would be pretty fun. Might as well make a night out of it.
To read about the student who was arrested at gunpoint for failing to pay his student loan, click HERE. ‘Murica.