Ok where to start, sorry it's long!! well, I worked for a student loan servicing company for the last 6.5 years to get myself and my hubby through school. Tuesday I was fired, I was told my quota was too low. Umm b.s. we don't tally our numbers untill month end, & my numbers were on track to meet or exceed. I prove this & they reply my numbers are based off August, which I took two weeks vac. I protest this, since dog food isn't free. Here's the b.s. part, I'm told it didn't matter that they'd check into it!! My protests to no avail, they've made up their mind and out I go.

Since the health care bill passed it's been miserable! Nothing but stress & many sleepless nights wondering when am I going to be fired. I've watched them replace the last 5 people with folks making 10$ pr hour. Most of the folks fired have been there several yrs. I find out they fired 3 more people 30 mins after me. (The health care bill had a lot of changes for private student loan lenders/servicers like Sally Mae, great lakes and a few others.) They can no longer orginate new loans or consolidate existing student loans. In a nut shell, a huge loss of money for the company. They didn't want to do a lay off since they would have to pay unemployment, they'll deny the claim since it was a termination and hope no one files an appeal, then they pay nothing.

So why am I happy??? Now I don't have to sell my morals & ethics for a pay check. I was told don't offer information they don't specifically ask for, such as debt reduction for the student that has 45K in student loans. Or the teacher with 55k of loans who makes 2600 a month that she qualifies to have her loan forgiven even though she earned it!! Talk about guilt, I had to tell a bawling special ed teacher with a 700$ payment and a 2600$ per month income, "sorry I can hold your payment only six months." If she defaults a student loan she will lose her job. All the while knowing she can modify her payments to fit her income, but she didn't ask specifically. I was told explaining it took too long, "they'll call back & that's not your problem, just put it on hold." That hold accrues interest per day & the company that services that loan gets that interest, do you fine folks smell what I'm steppin in here??? Lets not forget our people in the military, serving active duty they get screwed also. ((((I'm not saying anybody should get a free education heck no, be responsible with your debt pay what you owe. But, if they qualify for special help based upon a job that is desperately needed, i.e. teachers, DHS, DCS, police, military etc...then yeah they should be allowed to use what they have earned.)))

I need a job, but no amount of money is worth the guilt from someone else suffering because of "they'll call back, & that's not your problem." I'm guilty for staying the last two yrs knowing folks are getting screwed, all for a paycheck & I'll pay that piper one day. I feel guilty as h#ll for the people I knew I should have said "screw it I'm helping where I can." I understand business is what it is, you gotta do what you have to do in this economy to survive, but this is plain ol' greed nothing short of it. If any of you folks have student loans, know what you qualify for, chances are you have benefits you didnt know you had. I hope it's not "they'll call back" in all the other student loan companies, sadly I believe it is.

The last three days have been the best nights sleep in years. I'm scared to death, heck yeah, but I'll be alright. I think I'll find a "college" job or two to get by on & hammer out the school, I've got at least six more yrs of school anyway. I'll just have to cut back on the dog treats, one of my fleabags needs a diet anyway. As I type this he gave me the ol' stink eye, he either read my mind or has just fumigated the living room, probably both.
Rhonda

 

You should do an anonymous blog about how people can get their loans reworked and spread the word. Might make the guilt of "screwing" those people easier to deal with, plus if one person is able to use that information, in a way you've stuck it to the company for firing you.

 

This is EXACTLY the type of that goes on in politics and government. They basically paid me 50K a year (and this was in 1998 mind you) to play ball and keep my mouth shut. When I got hired and found out what really goes on, I set out to fix what I could. I quickly learned you either play along or you get screwed yourself. The whole thing needs to be scraped and started over.
Good luck to you!

 

Sadly these people don't realize just about all of the federal programs have information online. I found a lot of it when I was researching student loans for myself. I also found I didn't qualify for any of them, for various reasons. It's too bad your boss had that policy, but it is up to the consumer to educate themselves as much as possible on the products they are using. 10 minutes of research online would easily result in more information than can be digested quickly.

On the up side you know the programs, so I don't see where you would have too many problems getting another job, or even better starting a consulting company to travel to the local colleges and provide information about the ins and outs of the student loan programs to the students.

 

Sorry to hear this Rhonda.. My wife was laid off 3 months ago after 13 years with the same company. Reason they gave was that there was a reduction in work load.. howver, they day they laid off her and three others they moved three folks from other area into her old job area and they were essentially newbies who made less money...
As to the type of greed fraud and abuse you describe.. This is exactly why I do not see reducing regulation of business... time nd time again people have proven that if no one is looking into things they will run amuck and do things with little or no integrity!

 

Okey dokey Rhonda, glad you are in a good place about this.

I do a little HR. Now for the good news:

Apply for unemployment.

The company will get the notification & tell UI exactly what you told us.

UI will probably deny your claim.

You have the right to appeal. Do It! Dunno about TN but the standard appeal is via telephone, but you can request an in-person. UI will sent out the notification and request that any documentation to be presented in the appeal be sent to them AND the other party. For an employer, an in-person appeal is a PITA. If they don't show, you state your case & probably win.

Things you will want to have handy or be able to ask/answer:

Were you given any warnings? Were they documented? Was there a schedule for improvement?

Were you ever advised that poor performance was grounds for termination? (Probably, in orientation??) When? Was it documented? Where were the thresholds set & were you below them? Were you notified that you were under performing? Was it documented?

Performance reviews: got 'em? Are they good? Submit them with your appeal.

Vacation: Was it paid? Is there a policy for making up $$ while out? Were you advised? Was it documented?

You see a pattern here? If they don't send in the documentation to UI it will be inadmissible in the appeal. If they say they told you something, if it isn't documented, you didn't hear it or know anything about it.

 

Congrats on being fired. Hopefully something new comes your way soon.

 

Thanks guys/gals, encouragement and an awesome husband have definately made this easier. I don't plan on being unemployed very long at all. The main reason I applied for u.i. was to prove to my prior employer that not everyone is so easily intimidated. I"ll find something very soon & I'll suffer through my "detour" of a year extra in school that I hadn't planned on. I'm just happy that I haven't had any panic attacks since getting axed. That in itself is a blessing.
Rhonda

 

Take them to the mat Rhonda, Might also want to go the tattel tail route too. If it was me I'd burn them hard.

 

Glad you got outta that unhealthy environment. It will probably turn out for the better when one door closes another door opens. I quit my last crappy job at 9.50 an hour and left the high school drama behind. Now I make well lets just say more than that and my job is much more rewarding. I have talked to old coworkers over the years and they don't make much more than they did then. Glad I left that dead end job and Im sure you'll be glad you left yours.