OCCUPY STUDENT DEBT

Student debtor stories submitted by the 99%

Okay. Here’s a story. I’m an only child from a single parent household. My mother had no idea about the ins and outs of a college education…or the costs of obtaining a college degree. She never went to college. At 18, I had even less of an idea than her. Nonetheless, I was accepted to a small private university and enjoyed two years of school; after year two, I was informed that I would have to take out “some” loans to cover years three and four. I graduated with my undergraduate degree in 1994. After graduation, I served my country in the US Peace Corps. Unlike my brethren who joined the military, I was not allowed any student-loan forgiveness—only forbearance. I returned from my two years’ service and found the ugly truth that a BA degree really doesn’t give you any kind of decent wage. I returned to graduate school so that I could be more competitive in the job market. Oddly enough, I found a higher paying job in education overseas. My mother passed away and I was left without any kind of familial ties to my home country. I contacted Sallie-Mae so that I could begin paying off my $60,000+ dollars in debt. I was making enough money to just be comfortable. I was informed that I needed a US bank account to pay off my debt. Have you tried to open a bank account without a US address?! Not possible. I informed Sallie-Mae that I could make monthly bank transfers. Answer: Not acceptable. I asked what can I do? Answer: have a family member open a bank account for you. I replied that I have no family members anymore. So, what do I do? Answer: *shrug.* It was almost as if they were encouraging me to go into default status. So now my loans have gone into default. Now that I am a little older and wiser, I see why. It’s much more profitable for them. It’s been 10 years since I left. I can no longer return to the US because these THUGS couldn’t give me a viable solution to the problem nor even take my money when I offered it. So I stopped paying. I don’t even know what my current balance is, but I am sure that it’s un-payable now. I have gained valuable experiences living overseas that I could share with students in the US, but how can I go back? I have two children now that are, “American” in name and language only. They will most likely never go back. I’d be happy to pay back my original balance, but with all the fees and percentage increases…no way. Not possible. Ever. Why do bank debt get written off but student debt not? The entire system is fucked and as the system stands now, I cannot go back unless I want to live in debt FOR-EV-ER.

Okay. Here’s a story. I’m an only child from a single parent household. My mother had no idea about the ins and outs of a college education…or the costs of obtaining a college degree. She never went to college. At 18, I had even less of an idea than her. Nonetheless, I was accepted to a small private university and enjoyed two years of school; after year two, I was informed that I would have to take out “some” loans to cover years three and four. I graduated with my undergraduate degree in 1994. After graduation, I served my country in the US Peace Corps. Unlike my brethren who joined the military, I was not allowed any student-loan forgiveness—only forbearance. I returned from my two years’ service and found the ugly truth that a BA degree really doesn’t give you any kind of decent wage. I returned to graduate school so that I could be more competitive in the job market. Oddly enough, I found a higher paying job in education overseas. My mother passed away and I was left without any kind of familial ties to my home country. I contacted Sallie-Mae so that I could begin paying off my $60,000+ dollars in debt.

I was making enough money to just be comfortable. I was informed that I needed a US bank account to pay off my debt. Have you tried to open a bank account without a US address?! Not possible. I informed Sallie-Mae that I could make monthly bank transfers. Answer: Not acceptable. I asked what can I do? Answer: have a family member open a bank account for you. I replied that I have no family members anymore. So, what do I do? Answer: *shrug.* It was almost as if they were encouraging me to go into default status. So now my loans have gone into default. Now that I am a little older and wiser, I see why. It’s much more profitable for them.

It’s been 10 years since I left. I can no longer return to the US because these THUGS couldn’t give me a viable solution to the problem nor even take my money when I offered it. So I stopped paying. I don’t even know what my current balance is, but I am sure that it’s un-payable now. I have gained valuable experiences living overseas that I could share with students in the US, but how can I go back? I have two children now that are, “American” in name and language only. They will most likely never go back. I’d be happy to pay back my original balance, but with all the fees and percentage increases…no way. Not possible. Ever. Why do bank debt get written off but student debt not? The entire system is fucked and as the system stands now, I cannot go back unless I want to live in debt FOR-EV-ER.

Notes

  1. Jon Nichols submitted this to occupystudentdebt