OCCUPY STUDENT DEBT

Student debtor stories submitted by the 99%

A recent submission: The US Department of Education is now doing what would be considered to be fraud if any other business was caught doing this to clients. People currently in default and in the rehabilitation process are being screwed right now because of the DOE incompetence of getting the computer system upgraded. Many that have paid their 9 month fulfillment are having to continue to pay until DOE fixes their problem. I finished my 9 months, received no notice, no letter stating that I had to keep paying because they were not letting anyone out of default. Then wouldn’t you know it, I received a statement three months later stating I owed money to them, I called and was told that I have to now start the 9 months ordeal all over again because I didn’t make payments beyond what the agreement was. Talk about a raw deal. And this is going on to thousands right now.

A recent submission:

The US Department of Education is now doing what would be considered to be fraud if any other business was caught doing this to clients. People currently in default and in the rehabilitation process are being screwed right now because of the DOE incompetence of getting the computer system upgraded. Many that have paid their 9 month fulfillment are having to continue to pay until DOE fixes their problem. I finished my 9 months, received no notice, no letter stating that I had to keep paying because they were not letting anyone out of default. Then wouldn’t you know it, I received a statement three months later stating I owed money to them, I called and was told that I have to now start the 9 months ordeal all over again because I didn’t make payments beyond what the agreement was. Talk about a raw deal. And this is going on to thousands right now.

Social Security Disability and Parent Plus Loans…Sallie Mae and American Education Services

Original amount consolidated through UNCNS for Art Institute of Fort Lauderdale parent plus loan: $41,504.71 in June, 2005. Total amount paid so far: $17,925.25. Amount to principal: $8,895.97. Amount to interest: $9,029.28.

Original amount through Sallie Mae: 6/18/09 $6235.00 -outstanding principal: $6,152.00. Original amount through Sallie Mae: 6/25/09 $12,000.00 - outstanding principal: $11,830.96. Original amount through Sallie Mae 12/17/09 $5202.00 - outstanding principal $5,369.19. These loans were provided for Motorcycle Mechanic Institute in Orlando.

This loan has been in deferment since September 2010, when my long-term unemployment benefits ran out. The interest rate on these loans is 8.5% and on the first set of loans it is 3.25%.

This does not even cover the double charging of tuition to student loans for the same program that happened at Motorcycle Mechanic Institute of Orlando and Art Institute of Fort Lauderdale.

My 75+ pages of medical evidence provided for social security disability benefits is NOT considered acceptable to either Sallie Mae, American Education Services, or the Department of Education. Doctors who have signed letters for disability discharges from student and parent plus loans have been harassed by Sallie Mae, Department of Education, and American Education Services in the past.