MyRichUncle.com is about to leave 10,000 students that were counting on a student loan to attend college this fall with out loans. Unless you call MyRichUncle.com you will not be notified in a timely manner that their funding source DEUTSCHE BANK AG and other major banks will not be funding Student Loans this fall throught MyRichUncle.com. The management MRU Holdings, Inc. (UNCL) has know this for 2 weeks. Despite pleas from Customer Service Reps that management has a moral and ethical responsibility
to notify the Students affected before fall admissions, and while they have time to do something about it. Instead Senior Management has chosen to do nothing.
It is interesting to note that MyRichUncle.com continues to advertise heavily on right-wing holier than thou Sock Puppets; Dennis Miller and Dennis Prager. Further misleading more potential students their web sit has no mention of a their funding problem for over 10,000 Federally backed Student Loans. This will be a devastating blow to so many students who may not be able to return to college through no fault of their own. This is another example of misplaced priorities, the credit crunch affecting Main Street beyond housing values. Colleges and Universities start back up in about 3 weeks. How can these Executives look at themselves in the mirror when they have blown 10,000 college careers or at best temporarily put them on hold? Nothing will excuse the cowardly behavior of executives at UNCL who do not have the guts to deliver bad news to people who have to make alternative plans immediately.
Please check immediately that your Student Loan will fund.