Comments on: Lawyer Suggests Idea For Student Debt Forgiveness

By: Jodie Mullins

Jodie Mullins — Sat, 05 Mar 2011 14:48:30 +0000

I attended a private college to obtain a degree in nursing. My plan dream was shattered in my second semester of the nursing program. I lost feeling in the right side of my body and learned I had to have immediate surgery. After being misdiagnoised for 4 yrs, I learned that I had 4 buldging disks pressing on my spinal cord. I ended up unable to finish the nursing program and in debt approx $160,000. I was in rehab for a year and unable to work. My husband has been a police officer for 17 yrs and we have two children. We had to file bankruptcy losing our home but our lawyer would not fight to have my student loan debt forgiven. We rent a trailer now and live pay check to pay check. My student loan are behind and I never got my degree in order to make the money to pay them back. I have private and government loans. No one will consolidate and everyone wants a payment of $500 dollars or more a month. I started working at the police department in the 911 center last June. I have tried to catch up and everytime I do the others fall further behind. I don’t know what to do. I really could use some advise, if any has any. Sincerely, Jodie Mullins

By: Brenda Ferrimani

Brenda Ferrimani — Mon, 25 Jan 2010 19:17:23 +0000

My son went to Berklee College of Music and graduated in 2004. The school was very expensive, but we were assured by the student loan department that all our loans could be consolidated and that the payments would only be about $400 a month. After graduation we were told that Signature Loans could not be consolidated. The interest rates are high and vary for each loan (go figure?¿) Our payments are $700 + and that’s interest only.
My son has been disappointed in the kind of work he’s been able to secure teaching music and had to eventually leave music all together. During the past two years he’s been without work a lot and we (the co-signers) have had to assume this burden. We paid $6000 last year and the amount on the loans has not decrease at all, because we are only paying interest. We realize that cosigning on our son’s school loans wasn’t a good idea, and that he paid far more for his education than he should have.
We also realize that the money borrowed has to be paid back, but what about all the excessive interest and extra charges they’ve tacked on causing the loan to balloon over $40,000 ?
Shouldn’t education be considered a right of citizens? Other countries provide free college educations. Americans are doomed to be slaves of the wage, many unable to ever pay off their loans or have homes.
We feel like the school and Sallie Mae have taken great advantage of our bad situation and we don’t know what to do. Who can help? Any advice?

By: robin robinson

robin robinson — Fri, 04 Sep 2009 15:42:48 +0000

I have been trying to fight this for years after paying much more that I requested and took advantage of all programs the accumulated interst has well surpassed the orig loan..i cannot afford and it is blocking my being able to get credit for anything. HELP

By: laura

laura — Wed, 08 Jul 2009 02:16:03 +0000

If it wasn’t for school debt my husband and I could easily afford to buy a home.