Hi, I’m a bit confused, are the people I use as references under some sort of obligation for the loan? Or is it just about being able to testify to my character and whatnot?
Thanks
The people you use for references will be contacted to find YOU if you default on the loan.
Yes, whomever you put as a reference on your MPN will be contacted - and contacted frequently - if you decide not to pay your loans. My daughter got her current cell phone number eight years ago, and we have received calls for the person who had that phone number prior to my daughter and who skipped out on all of her student loans.
We get calls all the time from Sallie Mae, and the other companies that buy the old delinquent loans. I do log the calls, and ask them to remove our number, and let them know that Michelline Sarafin does not have that phone number anymore (yes, that is her real name and if anyone here in CC knows her, let her know her school loan lenders are looking for her - as if she does not know already.) They promise to update their systems, and we enjoy a reprieve for a few months before the calls starting coming again.
This Michelline Sarafin and one of her friends used each other as references, and the friend has skipped out on her loans as well - so they both figured out how to scam the system for who knows how much federal student loan aid. I have googled Michelline and found her address - I could drive to her house and knock on her door if I wanted to - I don’t - and I share that with these companies, but they don’t really care, I guess.
So just be sure to pay your school loans, unless you want your references to start hating you for making their lives miserable with all of the dunning.
Some one is bound to know where to find you if you stop paying, that’s why they ask for references.