Western Union Telex from United Student Aid Funds, Inc.
~ This document is the “transfer document” moving the Interim Loan from First National Bank of Nevada to the jurisdiction of United Student Aid Funds, Inc.
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On August 29, 1973 Robert E. Jahnigen, Supervisor of the Default Section of United Student Aid Funds, Inc. claimed to have sent the following “Night Letter” to the student (Donald Clayton), to the students living parent, and to the University of Nevada.
This document proves that EVERYONE (every institution and office) involved in the student loan scheme knew (knows) of the fees involved regarding the very profitable “collections racket” regarding student loans.
However, based on the RAMM COPY from the U.S. Department of Education, there is no evidence that the student (Donald Clayton) ever received the threatening notice from Robert E. Jahnigen.
Read carefully, the testimony is that, “no response, left notice”. The Oxford Street address was an apartment building of many floors. There was a buzzer to “get in” IF there was a response, the mail boxes were located inside. Western Union cannot legally leave items in a mail box. Did the Western Union telegram delivery person “sneak in” and leave the message by the door of a fourth floor apartment? Where did the student have to go to pick up the telegram after the “notice” was left. The bottom line is that Donald Clayton did NOT receive the alleged notice until July 12, 1991 (nearly 17 years after the student loan had been repaid in full).
A note on this document indicates September 5, 1973, followed by the word “ready”. This indicates that USA Funds was “ready” to default the loan after “no response” after 7 days. Based on the $750 loan and 7% simple interest (based on the back-dated Interim Loan document – February 1, 1972), the amount due on September 5 (1973) (assuming collection fees) would be:
$750 (Principal) + $52.50 (Interest to February 1, 1973) + $32.60 (Interest from February 1 to September 1, 1973) + $278.36 (1/3 of Total in collection fees) = $1,113.46.
In addition a random $25 additional “fee” was added by FNB as a “default fee cost”, making the demand amount $1,138.46. The student loan of $750 had grown by 50% within 17 months of receiving the $750.
One further NOTE. The U.S. Department of Education has a habit of copying (on RAMM) the documents that are required to be kept, and then DESTROYING the originals. The problem (as you can plainly see) is that many documents are copied very poorly, or are “illegible”. Many pages are copied from a blank back as in the copy on a copy shown above. Don’t you wish that you knew what the document really documented?
2012.05.13 – 07:12.