Americans: Don't endorse your student loan checks!

[K]

If anyone's like me and gets American student loans, you may have been horrified recently to learn that RBS is exchanging the loan checks at a rate of 2.12-- the exchange rate anywhere else is 1.97. Pretty crappy anyway, but 2.12 is extortion, especially for pg students who are paying a good chunk of change already. If you are waiting for your loan checks to come in, DON"T SIGN THEM. I'm demanding that the University reject RBS's exchange rate. The longer we hold out, the longer the University won't get it's tuition fees and they'll be forced to do something.

I'd like to think that I don't just have to suck up losing £500 because RBS said so. Anyone else?