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CITI Bank student loans suck update
August 25, 2007 ( grad )
I got a response from CITI - they will allow me to pay the backdated interest before it is capitalized onto the loan (though, not really, because they're offering to let me pay the amount which increased from capitalization for each backdated month - gee, thanks guys!!!)
To quote:
"On 08/15/07, we were notified that you were no longer in school as of 5/20/07. Therefore we ended your In-School deferment for loan 21 on 05/20/07; which would make your first payment due 06/18/07. [...] Since your deferment had ended in the past, we could not make your first payment due in the past; therefore, an Administrative forbearance was approved for the period -5/21/07 to 08/14/07."
Gotta love their logic. We can't bill you retroactively, but damnit we'll charge you interest! I suppose I should be happy they didn't charge me late fees and put liens against my property and paychecks?
Oh, wait - speaking of late fees - a bonus: my American Airlines credit card with CITI got slapped with an (1-day) past due charge, even though my bank records indicate that they withdrew the funds (epayment) on the due date. Yeah, I'll be canceling this card; I want as little to do with CITI as possible.
Posted by griffjon at August 25, 2007 08:38 PM
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