May 2012
34 posts
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sallie mae private parents loans and extrinsic...
In 2002 My son wanted to attend Chubb Institute in New York. When applying for financial aid we were told that before he could be considered for any other aid I had to apply for a parents loan. Given that I was only making 250 a week and had just had an auto repossessed I told the financial aid office I was certain I would be denied. I filled out the application and was never told I had been...
No relief for the disabled
I became disabled in 1999 with a year to go before graduating with two science degrees. Having transferred from community college to a public university and working 30 - 40 hours per week, my loans were pretty minimal. In-state tuition was a lot lower then. My health insurance company decided that none of the hospitalization, surgical or other major medical costs were covered. I didn’t...
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OSD in NYT Bestseller!
In October Kyle McCarthy, Stef Gray, and Robert Applebaum started Occupy Student Debt and look at what it has blossomed into- quite a MOVEMENT! Check us out in Van Jones’ New York Times Bestseller, Rebuild The Dream!!!
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disrupt the pipeline...that's the answer
Each state should pass a law stating that in order to borrow money to pay for a state college high school seniors must attend a student loan debt lecture given by college seniors - not the school finance office. In other words…don’t go to college on student loans…it’s just too risky. Once the pool of incoming fresh meat dries up the colleges and lenders will have a reason...
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If our generation is morally bankrupt, can't we be...
Mark Twain did it. Henry Ford did it. Johnny Unitas did it, too. So did Burt Reynolds, Wayne Newton, Donald Trump, Jose Canseco, and MC Hammer. Even George Jefferson did it when, after “moving on up,” he started moving back down. Millions and millions of people have done it. So why can’t I?
What all these guys did, what I can’t do, is file for bankruptcy. All of them made bad...
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Occupy Graduation: San Francisco State University
Disabled, in default, no way out
<p>I became disabled in 1999 with a year to go before graduating with two science degrees and a 3.8. Having transferred from community college to a public university and working 30 - 40 hours per week, my loans were pretty minimal. In-state tuition was a lot lower then.
My health insurance company decided that none of the hospitalization, surgical or other major medical costs were covered....
Doing my best to do what's right...
I’m doing what I love - and my skill is even somewhat more lucrative than others (perhaps?), though I choose to work in the public sector working to make sure our Veterans get the care they deserve, but that doesn’t mean that I still won’t be in debt over my undergrad and graduate loans well into my 50s or 60s.
I owe about $60,500 and the payments are close to $350 a month. I am...
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In too Deep
I’m 27 yrs old and I owe about $22K in private loans. When I checked the balance the loan grew to $39K. I took the loan out about 5yrs ago and I have had to do forbearance during the course of the five years because of the fact that I was not making enough money. I was on and off jobs and whats really worse is that when the economy collapsed, it has become hard to find stable employment. I...
TRAPPED BY SALLIE MAE WITH NO WAY TO ESCAPE
My sister called my crying yesterday. She is supposed to be happy, thrilled, and excited for a new life with infinite possibilities since she graduated from college last week. Sallie Mae has already begun harassing her. They claim that her first payment is due in just a few days. She explained that she should have a 6 months grace period before making payments. They claim that because it took her...
U.S. Secretary of Education, Arne Duncan, STOP...
The Department of Education is paying $1 billion dollars a year to collection agencies to collect on defaulted student loans when the reality is that almost no one should default if adequate default prevention and aversion counseling strategies were put into effect and adequately funded.
Debt collectors in general received almost 181,000 complaints last year, which has led to intervention from...
40% of my monthly income goes to private and federal student loan debt. I have a good job and am struggling just to start and family. I want to buy a house, but can’t afford anything and live in a mold-infested apartment. A moldy apartment is no place to start a family, so that’s on hold as well. I just want to live an average life.
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Stop congress from DOUBLING student loan interest...
Hi there!
I am a student that is currently in a Politics class. We have an assignment to choose a current hot debate and perform some kind of activism for that subject. My group chose to focus on student loans. We created this petition to send to congress to help stop them from doubling the interest rates this summer. Please help not only us, but every student with loans by signing our petition!
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Student Loan Repayment Period with No End Date and...
I’m sharing my own student loan experience. Below you will find the most recent repayment terms of my loan, which will change over the years for any number of reasons unless you are able to repay your loan, month after month, year after year, just like a mortgage payment, without any intruptions. I have ALWAYS kept my loan current (with few minor hiccups) either via regular payments or...
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STUDENTS RALLY TO OCCUPY GRADUATION
For Immediate Release Press Contacts Occupy Wall Street - press@occupywallst.org Occupy Colleges- Natalia Abrams (323) 642-8102 - info@occupycolleges.org
Occupy Student Debt - Kyle McCarthy (415) 483-9191 - Kyle@OccupyStudentDebt.org Workhouse Adam Nelson (212) 645-8006- nelson@workhousepr.com
STUDENTS RALLY TO OCCUPY GRADUATION
As student debt surpasses trillion dollar mark,...
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48-year-old Public School Teacher Would Never Have...
Graduated with Master’s (required to teach) in 1998 w/ 65K in debt (subsidized and unsubsidized.) Interest rate was 7.78% and illegal to reduce the rate or charge loan off in bankruptcy. Got job maki 29K as teacher but could’t afford $700+ monthly payment. For next 12 years either got in school deferrment (would take 1/2 load at community college to not be charged interest on...
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Debt doubled due to Deadly interest rate!!!!
I graduated in 1998 with a degree to teach Spanish, was told my “loans” were forgivable because I was to teach a critical needs subject AND in a critically needy district. I owed at the time $44K. Well, a single mom on a teacher salary can barely afford to live. Deferred for 3 years, then payed some then did economic forbearance on and off. Was advised to consolidate from SC...
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after only 3 years, a $100,000 loan has turned...
Dear Friends, I need help. I graduated college in 2009 following the phantom American Dream. I left Truman State University with a whopping $100,000 in student loan debt through private lenders. Yes, it’s a soul crushing amount, and no that’s not the complete amount, for there are also government loans. This amount is with the private loan organization known as Sallie Mae. The...
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Occupy Graduation! It's on!
Along with many of our allies such as DEFAULT: The Student Loan Documentary, ForgiveStudentLoanDebt.com, Backbone Campaign, Rebuild the Dream, Occupy Colleges, United States Student Association, Student Labor Action Project, Workhouse, Occupy Together and Edu Debtors Union, we’re organizing Occupy Graduation! Are YOU ready?
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Over $900 a Month and Counting.
I was the first and only child in my family to attend college. Without any financial guidance whatsoever, I was told that it was the key to unlocking my dreams. For, nobody could get a job without going far. So, I signed up for an Associates Degree.
I needed books, so I took out a loan for books. The friendly financial aid clerk handed me some paper work, I filled it out. It seemed very...
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Blood from a Stone
In January 2002 i had just begun my 2nd semester of junior year at Tulane University majoring in Classical Studies when i suffered a major brain haemorrhage in the basal ganglia region rendering the right side of my body completely unresponsive. Since that time i’ve remastered the art of walking but my right arm remains useless. My income during the last decade has been & continues to...
Airline PIlot Aspirations
I was told by my four year university aviation department that I would be making 6 figures in no time and that I would be flying international 777 within a few years (4-5 years). This was how they justified a 120,000 degree program in “Aviation Science”. My first 3 years as a Flight Instructor I qualified for food stamps, lived in an aircraft hangar, my bosses, basement, and rented...
April 2012
53 posts
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My name is Martin and I stopped making payments to my student loans 5 months ago. I currently have $300K in student loans (started with 260K) from the various lenders listed below:
-Wells Fargo: ~128K
-Chase: ~ 48K
-Citizens Bank: ~99K
-SallieMae: ~25K
My phone, my brother’s phone, my dad’s phone, and everyone else related to me gets about 1 phone call every 2 hours....
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Musician with horrendous Student Loan
I am a full time musician who graduated in 1996 with an original student loan dept of $80,000 that since then has escalated to over $105,000. As you know, musicians do not make a lot of money as it is, but I never fully realized I would have to carry such a burden now, especially at the age of 45.
Anyone else blame their college financial aid...
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Mr. Samuel Pratt
I recently finished a degree program with initial goal for a PHD degree but settled for a second Master’s degree. I am up to my throat buried in student loan debt. I owe approximately 180K in Student Loan debt. I cannot come up with a job, even in the most minimal technical jobs. Yesterday, like most days, I got two rejection letters, nicely written, that though I am qualified, they have...
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Sallie Mae
What to do? Sallie Mae is taking me to “legal” now. They have cashed my little checks each month, but won’t put it towards the $150 that it costs to defer the loan. They can only accept one check to do that whether I have paid $150 already, but it was several payments and not on one check. Who else does this? Will my loans be forgiven if this law passes and I’m already in...
Middleclass American
I owed $52,000.00 (alot of interest)after garnishment I now owe $26,000.00 that has gone to a collection agency (NCO). I am now paying $256 monthly and I can’t buy a home (or rent a home in a good neighborhood) purchase a good vehicle because AES is still on my credit report ( i am being turned down when I apply for anything). Thank GOD I live 4 blocks from my job because I am a middleclass...
Never Ending Debt
At a very young age my parents, teachers, and guidance counselors have ingrained in my head that going to college was the “next step”after high school and what was expected of me.
Now here I am, 1 year out of school, with $120,000 worth of debt in a job with a mediocre salary. After half of each monthly paycheck goes directly toward paying loans I have the other to live off of.
The...
As Herman Cain says, "Blame Yo' Self!"
Stupid me, trying to go for some higher ed!
I owe $145k (now. It was $120 when I graduated)
I’ve got no job, no interest in practicing in the field I studied (counseling psych) and really, no prospects.
I can’t believe they’ll bail out criminals, but not us.
PS - My long term plan is to stay well below the poverty level so I never have to pay the loans back, yet not default....
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Becoming a Lawyer was the Worst Mistake of My Life
After attending community college to earn my AA, going to in-state schools for my BA and JD, my starting balance was approximately $180,000 when my payments came due. I had private loans totaling $50k that will wind up costing me at least $150k to pay back. And, of course, this doesn’t include the federal loans.
I was lucky enough to find a job upon graduation working for a tiny firm, but...
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Student Loans are a scam
I have been reading the argument on how people sign the contract and should be liable for their debt they are incurring from their student loans. How many actually read the document and how many were encouraged by television ads and other media or even friends and counselors at school that getting a higher education is the way to go. I realize now that higher education was a wonderful thing,...