I have been paying a student loan since 1987 taxes have been offset was in bankruptcy and the remaining balance is $2400 but the loan amt at that time was $1500 whats wrong with that picture.a 1500 loan has cost me over 50000 and im still paying
The original holders of my loans added what they called a one time $13,000 collection fee. My $32 K loans are now over $50 K It may as well be a million.
some orf the students can not pay their student loan at this economy. Some of the educations were over priced by the institutions and the loan amont is causing too much stress to the point of causing health problems. Loan forgiveness is a big relief.
I got a student loan for my daughter and we believe that it was a grant that we didn't have to pay back she was 19 and I was just not loan or school advice. she had to pay a loan back and than i started receiving calls and letters. Now I am 63 years old and we are not caplable of paying a loan. Please help me.
This student loan program is a trap. Tuition is too much. For those who are not aware, there is a 1995 Disability Act still active that means you can file to have your School Loans dismissed. It's a little red tape, and you may have to try twice, but I know someone who got this. I am pretty sure the year 1995 is correct. None the less, it is available. Call Sallie Mae and ask for the forms. This is a good thing, especially if you are already on Social Security Disability. Just be sure your doctor includes that information in the statement he makes about your health. It doesn't cost anything to try!
I am soon to be a 66 year old male, I have been paying on my loan for about 14 of the last 16 years. I'm working full time but have no pension, no money saved and can't retire. I thought the Golden years would be special. Now I will work till the day I die wiether my student loans are paid off or not.
Higher education is fast becoming a luxury only the wealthy can afford. After 4 years of undergrad at $60k/year and one year of grad school (part time) at $20k/year, I cannot find a job, owe over $60k (and still growing) to the government, and feel as though I have wasted five years of my life pursuing a dream that is only becoming further out of reach.
The price of education does not accurately reflect its value in today's economy. I cannot afford a car, apartment, or any sort of lifestyle. I cannot sympathize for politicians who bemoan consumer frugality when roughly 1/4 of my income must go to pay back student loans. Politicians have long ignored the student debt crisis, leaving a generation of Americans underemployed and overspent. As policy makers continue to debate the myriad of causes for the stalled economic recovery, I cannot help but wonder if my fellow classmates and I are partly to blame. I do not have an apartment lease (although if it wasn’t for the $500/mth I pay back to the government I could easily afford an apartment), I cannot afford to shop often, eat out, or go on vacation. I am not putting any money into the economy. My minimal expendable income is not in fact mine. Over 1/3 of my monthly income belongs to the federal government. Blood money owed for four years at undergrad. My apologies for not becoming more of an economic stimulus. I can confidently say that my education has become a burden for which I will suffer for the rest of my life.
You're welcome, USA, for the $500/mth. And thank you for the $10/hour (temporary) job. My mother's really glad to have her 25 year old daughter back living at home.
I would not complain about student loans if the system was design in a fair and equitable manner. Saddling 18 year old freshmen with 30k in loans is neither of these things. I have been set up to be indebted for the rest of my life.
It is very hard for students to pay back the money they owe in this economic crisis. The goverment sets up to fail. There are no jobs out there and how does the government expect the students to know better when they are 18. Our tax money is paying for all these loans anyways and they expect us to pay again! With intrest... The whole system is corrupt because the government is to busy with international issues.
I firmly believe that the moment a student decides to enroll in college, he or she signs their life away. You sign that promissory note when you are what, 18; not knowing the consequences that will come along with that decision. You graduate. You cannot find a job. You get these ridiculous monthly payments for your student loans debt, and there is absolutely nothing you can do to pay for them. It is like you having to get 4 jobs to pay them and just give up on starting a life: getting married, becoming a home-owner, and having kids. Is that what the American dream is about? Is that the reward students get? (burried in debt forever and ever). Congress needs to do something. The money used for loans is not the government's. It comes for taxpayers. So why do we have to pay it twice and three times? (they get you when you die too). Forgive out student loan debt so we can help lift this economy up! It is that simple. Wars and tax cuts just won't do!!!!! America needs us young people to have jobs, work hard, spend so we can stimulate the economy and help pay for older generation and people on retirement! Do SOMETHING DEAR US GOVT!
Turns out my education made my life worse! It is very hard to generate any additional income to cover loans with the economy in our area of Ohio. I am over 50 and felt my education would benefit my ability to contribute to my longevity and it turns out I am unable to find anything in my area and what is avaiable goes to younger people.
My husband had always been a blue collar worker. Then he developed problems with his knees and back. We made the decision for him to go to school and get a degree in computer programming. Shortly after he started the program for his AA degree, the economic crisis hit. He graduated with honors on May 2010 and has been unable to find a job. After all the work we only have a $200 a month loan payment. Getting more education has only hurt us.
I think this should also include people who have been looking for work, unable to find a job, and are in default which in turn causes them to be less likely to land a decent career.
After going to college to find a career field anf to get an education to better myself. I have very little to show for it. After the economy made it harder and harder to find better employment, I made a deal with the Devil, I defaulted my student loan.
If I had the money to repay my loans, I would. Know they want to garnish my wages ( I only make $555.86 a month), and I don't know what to do. The government needs to step in and bail those of us who truly can NOT afford to pay this debt.
I am in the same boat as many of you. I went to college thinking this was going to help me find a job. Right after I finished my husband and I both lost our jobs. It has been a year and a half since and I have found a job making half as much as I was before but I didn't have a choice it was either go to work making less or have no money coming in at all due to unemployment benefits stopping. We have a child still to raise and hate having to tell her no on anything she asks for which is not much. We don't have a home anymore because we were not able to pay for it. We have had to move in with my in-laws just to have a roof over our head. We both have student loans and can't pay for them. All the money I make goes to bills, car payment, insurance and so forth. The government needs to step in and allow us who truly can't pay for their loans to be forgiven of this debt so that we can live and make our lives normal again. We deserve it as American's and our children deserve to know that life does get better.
I am a recent graduate (bachelor degree). I listen to the GOVERNMENT and thought I was missing something because I didn’t have my degree. Well, being a mother, working full-time (20+), went back to school (Online) thinking this was going to really help me out. Well the only thing that really helped me out is the fact that I am in DEBT up to my eyeballs, lost my job after 20+ years, and now CAN’T FIND A JOB WITHIN A 50 MILE RADIUS…….! Now no unemployment benefits are coming in & STILL CAN’T FIND A JOB AFTER 15 MONTHS….STILL UNEMPLOYED. BUT YOU CAN BET I STILL HAVE TO PAY FOR THE LOANS I GOT TO PAY FOR THIS DEGREE……THAT HELPED ME TO LOSE MY JOB……………..YES I NEED A BAILOUT…………A STIMULUS PACKAGE TO HELP ME OUT! I would have had no promem to continue to pay IF I HAD A JOB!
I have watched my once 18k student loan now balloon up to 31k simply from being sold over & over again. It makes me sick to know I will be paying this for most of my life to companies that haven't even done anything to warrant payment. I have no problem paying on something I owe, but what happens with these loans is completely unreasonable. I have two children & an unemployed husband & all I am asking is for a little relief from the constant fear that my wages will be garnished if I don't send money I don't even have.
I whole heartedly support this petition. There are a multitude of persons who would benefit by this initiative and who are facing severe hardship without it.
I have student loans that are 10+ old and new ones from the Masters degree I recently completed. I never thought I would be without a job for ONE YEAR! The masters is not helping me so far...I NEED A BAILOUT! The older student loans started off at 20,000 and are now 50,000...mostly interest...HELP!!
I have been defering my student loan for over 13 years. By the time the first payment was due after I graduated, I was unemployed. I then became a mother and had three children. I'm now a stay at home mom, home school teacher. I dont see myself working for the next 9 years so I can be a mother. I owe $80,000 and $20,000 of that is interest. I don't see why people can file bankruptcy on everything else and not this.
I am 60 years old & have been paying my student loans for the past 2 years and have a Master's Degree in Education. Yet, I am not working in my field because I am now being told that despite the fact that I have about $80,000 in student loans I need to spend even more money to get my Teaching Certification. I started out with an $80,000 bill & now owe $79,200. At some point I would like to retire. Does this mean they will be extracting $500 a month from my Social Security check? I need relief.
I am a 42 year old single parent already being sued by some private loans despite the fact that my 2 kids and I live on $300.00 a week unemployment. Going to graduate school was a big mistake, and due to my age I can't even get a job at 7-11 now. I'm supposed to pay $300.00 an hour next week for the mandatory mediation on the loans that are suing me. The mediator wrote to the Judge to inform him that I would not pay, and now to add insult to injury I am left wondering if I will be held in contempt of court for being unable to pay for this mediation which will place my kids in foster care if I am arrested. These students loans (Access group/KHESLC) were consolidated with my federal loans, and then deferred. After about 6 or 7 months I was served with a Summons and Complaint told that Access Group did not defer ALL the loans, and they claim they sent me a letter regarding that. Yet they never sent a bill - they just waited and then decided to sue an indigent single parent and now they want another $10,000.00 in legal fees. I am the first person in my family to go to graduate school and now the American Dream has become the American Nightmare.
My employer cut our monthly wages by about 20% and to add to that I have been supporting my son which is a Iraq veteran and has not been able to find a job for over a year. They should help us and not the banks.
I am drowning in debt. I am 51 years old, and can't get a mortgage, or credit card, or help pay for my son's college. I can't marry, because of the burden of this debt. I am so depressed. Please bail us out!!!!
I lost my job almost two years ago, but even though I look for work on a daily basis I have found nothing. On top of worrying about my mortgage, taxes, utilities and such I have to worry about how I am going to pay for my student loans. As it is I will probably lose my home and my car, but I can move on from there, with my student loan hanging over my head I feel like I am drowning. HELP :(
Economic Hardship Student Loan Forgiveness
122 People Have Sent 331 Letters and Emails
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Some recent comments: these messages are published with permission of the signer.
The price of education does not accurately reflect its value in today's economy. I cannot afford a car, apartment, or any sort of lifestyle. I cannot sympathize for politicians who bemoan consumer frugality when roughly 1/4 of my income must go to pay back student loans. Politicians have long ignored the student debt crisis, leaving a generation of Americans underemployed and overspent. As policy makers continue to debate the myriad of causes for the stalled economic recovery, I cannot help but wonder if my fellow classmates and I are partly to blame. I do not have an apartment lease (although if it wasn’t for the $500/mth I pay back to the government I could easily afford an apartment), I cannot afford to shop often, eat out, or go on vacation. I am not putting any money into the economy. My minimal expendable income is not in fact mine. Over 1/3 of my monthly income belongs to the federal government. Blood money owed for four years at undergrad. My apologies for not becoming more of an economic stimulus. I can confidently say that my education has become a burden for which I will suffer for the rest of my life.
You're welcome, USA, for the $500/mth. And thank you for the $10/hour (temporary) job. My mother's really glad to have her 25 year old daughter back living at home.
I would not complain about student loans if the system was design in a fair and equitable manner. Saddling 18 year old freshmen with 30k in loans is neither of these things. I have been set up to be indebted for the rest of my life.
If I had the money to repay my loans, I would. Know they want to garnish my wages ( I only make $555.86 a month), and I don't know what to do. The government needs to step in and bail those of us who truly can NOT afford to pay this debt.
I'd rather have given my arm
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