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Discussion in 'Credit Talk' started by steve, Aug 5, 2000.
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From what I recall, the loan amount was soubled before it reached the guarantor. After that, the guarantor added a hefty chunk. I'm not sure how much, but the borrower was stuck with much more than he/she actually borrowed. I don't remember exact details of the costs associated.
I do remember that in all the cases I heard about, these people were not given the grace periods or the deferments they were entitled to but were defaulted. They felt Sallie Mae was just out to make a pile of money.