OCCUPY STUDENT DEBT

Student debtor stories submitted by the 99%

A DIFFICULT POSITION $22,000 (NO DEGREE) As someone who has finally taken the plunge into higher education decades after high school, I feel dumber than ever. Thanks to a for profit school (a school whose parent company is being sued right now by our government for fraud) which I found myself entangled in, I now owe $22,000 for absolutely nothing. I withdrew halfway through, in part due to the off-putting environment and the horrible teachers. I was told to sign a POP (Payment Option Plan) just shortly before I withdrew. What this is, in essence, is a promise by me that I will pay out of pocket once they have drained every bit of financial aid out of me. I was told, and I quote, that “YOU HAVE TO SIGN IT.” Stupidly, I did sign it. After going to this school of hard knocks, I now know that the credits don’t transfer, and even if I graduate, it probably won’t turn into a job anyway. This is due to the fact that the education is subpar. So, the only choice I seem to have is to continue to carry this debt with interest being added, and start completely over at another school, such as my community college. I am middle-aged, disabled, and had naively hoped this education would provide a chance at getting out of poverty. From the moment I made that fateful call to this school expressing interest, I was hounded and coerced into signing papers before having a chance to actually read them or think about this major, life-altering decision. These people prey on the hopes and dreams of good, otherwise smart, individuals. I wish I had never made that call. I am now more scared than I was before that call. I hope and pray that someone can help people like me with relief from some of this debt. At the very least, freeze the interest that is building up. Make student loans eligible for bankruptcy. Allow students to open class action lawsuits against these for profit colleges. PROVIDE SOME KIND OF RECOURSE FOR STUDENTS. WE HAVE NO TOOLS TO EVEN BEGIN TO DIG OUR WAY OUT. Just for the record, and for whatever it’s worth, I have earned a 3.9 GPA so far. Thank you for taking the time to read this petition. Lisa H. 12/18/11 UPDATE: With my grace period about to run out, I had a hard choice to make. I have to get back into school before my loans go into repayment. I have weighed my options, which are, continue on in this school that I was attending, or start over at the community college. I am disabled, so going to school the traditional way (not online) is not doable for me. The only option I have is to go back to the school I withdrew from. I am very worried about the outcome of all of this. I am only halfway through and already owe $22,000 plus interest. I have no other choice. I feel like a hamster on a wheel. I’M STUCK.

A DIFFICULT POSITION

$22,000 (NO DEGREE)

As someone who has finally taken the plunge into higher education decades after high school, I feel dumber than ever. Thanks to a for profit school (a school whose parent company is being sued right now by our government for fraud) which I found myself entangled in, I now owe $22,000 for absolutely nothing. I withdrew halfway through, in part due to the off-putting environment and the horrible teachers. I was told to sign a POP (Payment Option Plan) just shortly before I withdrew. What this is, in essence, is a promise by me that I will pay out of pocket once they have drained every bit of financial aid out of me. I was told, and I quote, that “YOU HAVE TO SIGN IT.” Stupidly, I did sign it. After going to this school of hard knocks, I now know that the credits don’t transfer, and even if I graduate, it probably won’t turn into a job anyway. This is due to the fact that the education is subpar. So, the only choice I seem to have is to continue to carry this debt with interest being added, and start completely over at another school, such as my community college. I am middle-aged, disabled, and had naively hoped this education would provide a chance at getting out of poverty. From the moment I made that fateful call to this school expressing interest, I was hounded and coerced into signing papers before having a chance to actually read them or think about this major, life-altering decision. These people prey on the hopes and dreams of good, otherwise smart, individuals. I wish I had never made that call. I am now more scared than I was before that call.

I hope and pray that someone can help people like me with relief from some of this debt. At the very least, freeze the interest that is building up. Make student loans eligible for bankruptcy. Allow students to open class action lawsuits against these for profit colleges.

PROVIDE SOME KIND OF RECOURSE FOR STUDENTS.

WE HAVE NO TOOLS TO EVEN BEGIN TO DIG OUR WAY OUT.

Just for the record, and for whatever it’s worth, I have earned a 3.9 GPA so far.

Thank you for taking the time to read this petition.

Lisa H.

12/18/11

UPDATE:

With my grace period about to run out, I had a hard choice to make. I have to get back into school before my loans go into repayment. I have weighed my options, which are, continue on in this school that I was attending, or start over at the community college. I am disabled, so going to school the traditional way (not online) is not doable for me. The only option I have is to go back to the school I withdrew from. I am very worried about the outcome of all of this. I am only halfway through and already owe $22,000 plus interest. I have no other choice. I feel like a hamster on a wheel. I’M STUCK.