OCCUPY STUDENT DEBT

Student debtor stories submitted by the 99%

Private Student Loan Debt

I graduated from a local private college last May. I went back to school with elementary kids at home. I could not qualify for financial aid because my husband Makes $90,000.00 a year. Yes, that is a decent salary, but raising a family with so many fixed expenses in this economy is an obstacle. My tutition for this private college was $8,000.00 a semester. I also took out a little extra to make ends meet for gas, teaching expenses, etc. Fast forward one year I am now 43 years old with no teaching job. I have been subbing in the county for the past year, and there are 80 applicants for elementary education jobs in Grady County. If I do not receive a job soon, I will be forced to take any job because I can not keep Wells Fargo from hounding me everyday, three times a day. My payment is $679.00 per month. I also have a few more loans out, but that is my biggest and hardest to manage. The other loans range from $50.00 (which I have been paying) to 150.00 per month. So far I have paid $900.00 so far to Wells Fargo. I need to be worrying about retirement and putting my exceptionally gifted kids through college, but I am burdening my family with this debt. I am a Christain, but lately I have felt like killing myself over this!

I went back to school at 37 years old, after having been out for nineteen years. I only went to 10th grade, and didn’t finish that, Both of my kids were grown, and it was my turn to go after a better career than waitressing.

I started city college in 1988, at the back of the bus. Math one, English one, etc., and finished on the Deans Honor List, and a few scholarships to UCSB in Santa Barbara. I went there two years, graduated with honors and a BA in Psychology and Sociology.

I went after work in Vegas, and also enrolled at UNLV. I graduated there with honors, and a MA in Western History. Not very practical any of it for finding future work, unless you wanted to be a teacher.

When I left school in 1997, I immediately had to go to my mother’s house and take care of her. She had fallen, broke her hip and couldn’t walk. This began a downward spiral, and I stayed on her couch for two years while caring for her until she died.

I had not paid student loans, and they were gathering interest. I owed on them now $30,000. Suffice it to say I didn’t make enough money to start paying them anything for another three years. I started paying them $150 dollars a month in 2003. I paid them that until 2005, when I started paying them $280. I paid them that amount until 2008, when I began paying them $340. In 2010 I began paying them $400, and am paying them that at the present time.

I’ve done the calculations of the amount I’ve paid Sallie Mae, after consolidating with them. I’ve paid them approximately $25,000, five thousand short of the original $30,000 when I consolidated. At the present moment I owe them $63,000, and will never be able to pay it off in my lifetime.

They are government sanctioned loan sharks, and I think it’s completely unfair. My husband has been out of work for three years now, my overhead is steep, and I still can’t wrap my head around them being able to cheat people this way.

I have a good job, but don’t know how long I can keep it, with this economy. My company is downsizing, and after ten years I could be one of the ones to go soon. My mother in law has stage four cancer, and Chase bank is foreclosing on her mortgage. So you see everyone is having troubles.

Albert Lord: We need to talk! Today is National Fax-in Day to Albert Lord, Sallie Mae’s CEO. We are asking for a meeting with students from around the country that will be visiting the Sallie Mae DC office. Below is a sample letter we are asking people to FAX to Albert Lord and Sallie Mae. CLICK HERE to do it from your computer. Albert Lord,For months now, we have been asking Sallie Mae to meet with us to talk about the burden that student debt causes us and our communities. We’ve only heard silence in return, so now we’re contacting you.1) Stop robbing us of our futures: Forgive student debt after five years of repayment and eliminate all interest on student loans. This would end the student debt crisis, allow millions of students to obtain a college degree, reset the housing market, pump billions of dollars back into the economy, and create jobs.2) Pay your fair share: Stop draining government of revenue. Pay the statutorily required 35% corporate income tax instead of gaming the system through off-shore tax shelters, loopholes, and scams.3) Get your money out of my democracy: Disclose corporate money in elections to date and pledge to keep all corporate money out of the 2012 and future elections. This includes an end to lobbying on public policy issues, such as Pell Grant and Trio Programs. 4) We need to talk. Albert Lord, will you meet with United States Student Association and Student Labor Action Project representatives on March 26th?Sincerely.Your Name Here TO: Albert Lord Sallie Mae, Inc P.O. Box 9532Wilkes-Barre, PA 18773-9532US Fax:(800) 848-1949

Albert Lord: We need to talk!

Today is National Fax-in Day to Albert Lord, Sallie Mae’s CEO. We are asking for a meeting with students from around the country that will be visiting the Sallie Mae DC office. Below is a sample letter we are asking people to FAX to Albert Lord and Sallie Mae. CLICK HERE to do it from your computer.

Albert Lord,

For months now, we have been asking Sallie Mae to meet with us to talk about the burden that student debt causes us and our communities. We’ve only heard silence in return, so now we’re contacting you.

1) Stop robbing us of our futures: Forgive student debt after five years of repayment and eliminate all interest on student loans. This would end the student debt crisis, allow millions of students to obtain a college degree, reset the housing market, pump billions of dollars back into the economy, and create jobs.

2) Pay your fair share: Stop draining government of revenue. Pay the statutorily required 35% corporate income tax instead of gaming the system through off-shore tax shelters, loopholes, and scams.

3) Get your money out of my democracy: Disclose corporate money in elections to date and pledge to keep all corporate money out of the 2012 and future elections. This includes an end to lobbying on public policy issues, such as Pell Grant and Trio Programs.

4) We need to talk. Albert Lord, will you meet with United States Student Association and Student Labor Action Project representatives on March 26th?

Sincerely.

Your Name Here

TO:

Albert Lord
Sallie Mae, Inc

P.O. Box 9532
Wilkes-Barre, PA 18773-9532
US
Fax:(800) 848-1949

Source afl.salsalabs.com