OCCUPY STUDENT DEBT

Student debtor stories submitted by the 99%


H.R.4170 Campaign - Get Involved
By Denise Smith, Kasey Oliver, and Ryan Jacobi in ForgiveStudentLoanDocumentary.com
H.R.4170 Campaign - What every member should do to get involved in the H.R.4170 Campaign!  
Pease register at the www.forgivestudentloandebt.com Website! Stay up to date on all the latest FSLD news and share your story and participate in the forums!
#1  Petitions!!! 
Sign the following petitions created by Robert Applebaum, Esq., founder of forgivestudentloandebt.com, asking Rep. John Kline (MN), The United States House of Representatives, The United States Senate, and President Barack Obama to Support the Student Loan Forgiveness Act of 2012 (H.R.4170):
Support the Student Loan Forgiveness Act of 2012 at http://signon.org/sign/support-the-student-loan.fb1?source=c.fb&r_by=525506
Support the Student Loan Forgiveness Act of 2012 (H.R.4170) at http://www.change.org/petitions/support-the-student-loan-forgiveness-act-of-2012-h-r-4170
Easy to read Summary and FAQ sheet: http://www.forgivestudentloandebt.com/content/hr-4170-fact-sheet 
Full bill text: http://www.forgivestudentloandebt.com/content/student-loan-forgiveness-act-2012-hr-4170-bill-text 
Please also sign the following petitions in support of H.R.4170 created by members of the student loan community:
Rep Nancy Pelosi: Support the Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-nancy-pelosi-support-the-student-loan-forgiveness-act-of-2012-hr-4170
Rep John Carney: Support the Student Loan Forgiveness Act of 2012 (H.R. 4170) at http://www.change.org/petitions/rep-john-carney-support-the-student-loan-forgiveness-act-of-2012-h-r-4170
Rep Jim Moran: Support The Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-jim-moran-support-the-student-loan-forgiveness-act-of-2012-hr-4170
Rep Mike Turner: Support the Student Loan Forgiveness Act of 2012 (H.R.4170) at http://www.change.org/petitions/rep-mike-turner-support-the-student-loan-forgiveness-act-of-2012-h-r-4170
The President of the United States: Pass H.R. 4170 Student Loan Forgiveness Act of 2012 at http://www.change.org/petitions/the-president-of-the-united-states-pass-h-r-4170-student-loan-forgiveness-act-of-2012
Rep Mike McIntyre: Support the Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-mike-mcintyre-support-the-student-loan-forgiveness-act-of-2012-hr-4170#
#2
Weigh in at PopVox by clicking on “support” and send a message to your representative. (There is a character limit of around 1500 for your comments)
https://www.popvox.com/bills/us/112/hr4170
#3
Go to OpenCongress  and click the green “support” check mark, upper right side of page and send a message to your Representative and Senators—you also can print a copy for mailing.
http://www.opencongress.org/bill/112-h4170/show
#4
Mail a letter to your Representative strongly urging them to co-sponsor and support this bill!  Tell them why you support H.R.4170, what its passage would mean to you personally and how it would benefit the economy!
Find contact Information: http://www.contactingthecongress.org/
#5
Call your Representative and strongly urge them to co-sponsor and support this bill! 
Tell them why you support H.R.4170, what its passage would mean to you personally and how it would benefit the economy! 
Find Your Representatives/Senators at http://www.contactingthecongress.org/
#6 If there is are open seats in your state, contact the candidates to ask them what their position is and encourage them to support H.R.4170.
Look here to locate them: http://www.politics1.com/states.htm
#7
Email your friends, family members and everyone you know! 
Send them this petition link:
http://signon.org/sign/support-the-student-loan?source=s.em.cr&r_by=2058688&mailing_id=2695
Ask them to sign.  Tell them your story and explain how H.R.4170 will benefit not only borrowers but also our economy!
#8
If you are on twitter, tweet the following message to your followers: 
Support The #StudentLoanForgivenessAct of 2012 http://signon.org/s/KftCVc #signon #highered #studentloans
#9
If you are on Facebook, copy & post the following message on your wall:
Support The Student Loan Forgiveness Act of 2012!!! Please sign, then SHARE SHARE SHARE!!! http://signon.org/sign/support-the-student-loan?source=s.em.cr&r_by=2058688&mailing_id=2695
#10
If you are on other social networking sites please reach out there as well.  The more we reach out, the more likely we are to hit our goal of 1 million signatures!
#11 Ready to take a really BIG step?  Write to every last Representative in Congress.  Set a daily goal and work down this list:
pdf version at https://docs.google.com/open?id=0B1u0DvarjLiVNDRlT1h4MXlTcC13WDJPX0lRUGYwdw
xlxs version at https://docs.google.com/spreadsheet/ccc?key=0Alu0DvarjLiVdE5jSERwQk1rY2RCQWRuR1hKbUFCRkE

H.R.4170 Campaign - Get Involved


By Denise Smith, Kasey Oliver, and Ryan Jacobi in ForgiveStudentLoanDocumentary.com

H.R.4170 Campaign - What every member should do to get involved in the H.R.4170 Campaign!

Pease register at the www.forgivestudentloandebt.com Website! Stay up to date on all the latest FSLD news and share your story and participate in the forums!

#1 Petitions!!!

Sign the following petitions created by Robert Applebaum, Esq., founder of forgivestudentloandebt.com, asking Rep. John Kline (MN), The United States House of Representatives, The United States Senate, and President Barack Obama to Support the Student Loan Forgiveness Act of 2012 (H.R.4170):

  • Support the Student Loan Forgiveness Act of 2012 at http://signon.org/sign/support-the-student-loan.fb1?source=c.fb&r_by=525506
  • Support the Student Loan Forgiveness Act of 2012 (H.R.4170) at http://www.change.org/petitions/support-the-student-loan-forgiveness-act-of-2012-h-r-4170
  • Easy to read Summary and FAQ sheet: http://www.forgivestudentloandebt.com/content/hr-4170-fact-sheet
  • Full bill text: http://www.forgivestudentloandebt.com/content/student-loan-forgiveness-act-2012-hr-4170-bill-text

Please also sign the following petitions in support of H.R.4170 created by members of the student loan community:

  • Rep Nancy Pelosi: Support the Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-nancy-pelosi-support-the-student-loan-forgiveness-act-of-2012-hr-4170
  • Rep John Carney: Support the Student Loan Forgiveness Act of 2012 (H.R. 4170) at http://www.change.org/petitions/rep-john-carney-support-the-student-loan-forgiveness-act-of-2012-h-r-4170
  • Rep Jim Moran: Support The Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-jim-moran-support-the-student-loan-forgiveness-act-of-2012-hr-4170
  • Rep Mike Turner: Support the Student Loan Forgiveness Act of 2012 (H.R.4170) at http://www.change.org/petitions/rep-mike-turner-support-the-student-loan-forgiveness-act-of-2012-h-r-4170
  • The President of the United States: Pass H.R. 4170 Student Loan Forgiveness Act of 2012 at http://www.change.org/petitions/the-president-of-the-united-states-pass-h-r-4170-student-loan-forgiveness-act-of-2012
  • Rep Mike McIntyre: Support the Student Loan Forgiveness Act of 2012 (HR 4170) at http://www.change.org/petitions/rep-mike-mcintyre-support-the-student-loan-forgiveness-act-of-2012-hr-4170#

#2

Weigh in at PopVox by clicking on “support” and send a message to your representative. (There is a character limit of around 1500 for your comments)

https://www.popvox.com/bills/us/112/hr4170

#3

Go to OpenCongress and click the green “support” check mark, upper right side of page and send a message to your Representative and Senators—you also can print a copy for mailing.

http://www.opencongress.org/bill/112-h4170/show

#4

Mail a letter to your Representative strongly urging them to co-sponsor and support this bill! Tell them why you support H.R.4170, what its passage would mean to you personally and how it would benefit the economy!

Find contact Information: http://www.contactingthecongress.org/

#5

Call your Representative and strongly urge them to co-sponsor and support this bill!

Tell them why you support H.R.4170, what its passage would mean to you personally and how it would benefit the economy!

Find Your Representatives/Senators at http://www.contactingthecongress.org/

#6 If there is are open seats in your state, contact the candidates to ask them what their position is and encourage them to support H.R.4170.

Look here to locate them: http://www.politics1.com/states.htm

#7

Email your friends, family members and everyone you know!

Send them this petition link:

  • http://signon.org/sign/support-the-student-loan?source=s.em.cr&r_by=2058688&mailing_id=2695

Ask them to sign. Tell them your story and explain how H.R.4170 will benefit not only borrowers but also our economy!

#8

If you are on twitter, tweet the following message to your followers:

#9

If you are on Facebook, copy & post the following message on your wall:

  • Support The Student Loan Forgiveness Act of 2012!!! Please sign, then SHARE SHARE SHARE!!! http://signon.org/sign/support-the-student-loan?source=s.em.cr&r_by=2058688&mailing_id=2695

#10

If you are on other social networking sites please reach out there as well. The more we reach out, the more likely we are to hit our goal of 1 million signatures!

#11 Ready to take a really BIG step? Write to every last Representative in Congress. Set a daily goal and work down this list:

Support H.R. 4170 - The Student Loan Forgiveness Act of 2012
Greetings,
I just signed the following petition addressed to: Rep. John Kline, The U.S. Congress & President Obama.————————Support H.R. 4170 - The Student Loan Forgiveness Act of 2012Since 1980, average tuition for a 4-year college education has increased an astounding 827%. Since 1999, average student loan debt has increased by a shameful 511%. In 2010, total outstanding student loan debt exceeded total outstanding credit card debt in America for the first time ever. In 2012, total outstanding student loan debt is expected to exceed $1 Trillion. In short, student loan debt has become the latest financial crisis in America and, if we do absolutely nothing, the entire economy will eventually come crashing down again, just as it did when the housing bubble popped. Reasonable minds can disagree as to the solutions, they cannot, however, disagree on the existence of this ever-growing crisis, as well as the unsustainable course we’re on towards financial oblivion. As a result of more than 30 years of treating higher education as an individual commodity, rather than a public good and an investment in our collective future, those buried under the weight of their student loan debt are not buying homes or cars, not starting businesses or families, and they’re not investing, inventing, innovating or otherwise engaged in any of the economically stimulative activities that we need all Americans to be engaged in if we’re ever to dig ourselves out of the giant hole created by the greed of those at the very top. Now for the good news: there’s finally hope on the horizon! Representative Hansen Clarke of Michigan has just introduced H.R. 4170, The Student Loan Forgiveness Act of 2012, in the House of Representatives - legislation designed to lend a helping hand to those struggling under massive amounts of student loan debt. For a brief summary of H.R. 4170’s main provisions, please copy & paste this URL into your browser: http://tinyurl.com/7akydbk To read the full version of the actual bill itself, please go here: http://tinyurl.com/6txure8 To read answers to some of the most frequently asked questions about The Student Loan Forgiveness Act of 2012, please go here: http://tinyurl.com/8xh4csd Student loan debt has an undeniable and significant suppressive effect on economic growth. The Student Loan Forgiveness Act of 2012 directly addresses this enormous boot on the neck of the middle class and represents a glimmer of hope for millions of Americans who, with each passing day, find that the American Dream is more and more out of reach. Therefore, we, the undersigned, respectfully request that Congress bring H.R. 4170, The Student Loan Forgiveness Act of 2012, up for consideration and commit to holding a straight, up-or-down vote on it this year. Thereafter, we, the undersigned, respectfully request that President Obama sign this legislation into law.

Support H.R. 4170 - The Student Loan Forgiveness Act of 2012

Greetings,

I just signed the following petition addressed to: Rep. John Kline, The U.S. Congress & President Obama.

————————
Support H.R. 4170 - The Student Loan Forgiveness Act of 2012

Since 1980, average tuition for a 4-year college education has increased an astounding 827%.

Since 1999, average student loan debt has increased by a shameful 511%.

In 2010, total outstanding student loan debt exceeded total outstanding credit card debt in America for the first time ever.

In 2012, total outstanding student loan debt is expected to exceed $1 Trillion.

In short, student loan debt has become the latest financial crisis in America and, if we do absolutely nothing, the entire economy will eventually come crashing down again, just as it did when the housing bubble popped. Reasonable minds can disagree as to the solutions, they cannot, however, disagree on the existence of this ever-growing crisis, as well as the unsustainable course we’re on towards financial oblivion.

As a result of more than 30 years of treating higher education as an individual commodity, rather than a public good and an investment in our collective future, those buried under the weight of their student loan debt are not buying homes or cars, not starting businesses or families, and they’re not investing, inventing, innovating or otherwise engaged in any of the economically stimulative activities that we need all Americans to be engaged in if we’re ever to dig ourselves out of the giant hole created by the greed of those at the very top.

Now for the good news: there’s finally hope on the horizon!

Representative Hansen Clarke of Michigan has just introduced H.R. 4170, The Student Loan Forgiveness Act of 2012, in the House of Representatives - legislation designed to lend a helping hand to those struggling under massive amounts of student loan debt.

For a brief summary of H.R. 4170’s main provisions, please copy & paste this URL into your browser: http://tinyurl.com/7akydbk

To read the full version of the actual bill itself, please go here: http://tinyurl.com/6txure8

To read answers to some of the most frequently asked questions about The Student Loan Forgiveness Act of 2012, please go here: http://tinyurl.com/8xh4csd

Student loan debt has an undeniable and significant suppressive effect on economic growth. The Student Loan Forgiveness Act of 2012 directly addresses this enormous boot on the neck of the middle class and represents a glimmer of hope for millions of Americans who, with each passing day, find that the American Dream is more and more out of reach.

Therefore, we, the undersigned, respectfully request that Congress bring H.R. 4170, The Student Loan Forgiveness Act of 2012, up for consideration and commit to holding a straight, up-or-down vote on it this year. Thereafter, we, the undersigned, respectfully request that President Obama sign this legislation into law.

Support The Student Loan Forgiveness Act of 2012
By Robert Applebaum (Contact)
To be delivered to:  Rep. John Kline (MN-2), The United States House of Representatives, The United States Senate, and President Barack Obama
Since 1980, average tuition for a 4-year college education has increased an astounding 827%. Since 1999, average student loan debt has increased by a shameful 511%. In 2010, total outstanding student loan debt exceeded total outstanding credit card debt in America for the first time ever. In 2012, total outstanding student loan debt is expected to exceed $1 Trillion. In short, student loan debt has become the latest financial crisis in America and, if we do absolutely nothing, the entire economy will eventually come crashing down again, just as it did when the housing bubble popped. Reasonable minds can disagree as to the solutions, they cannot, however, disagree on the existence of this ever-growing crisis, as well as the unsustainable course we’re on towards financial oblivion. As a result of more than 30 years of treating higher education as an individual commodity, rather than a public good and an investment in our collective future, those buried under the weight of their student loan debt are not buying homes or cars, not starting businesses or families, and they’re not investing, inventing, innovating or otherwise engaged in any of the economically stimulative activities that we need all Americans to be engaged in if we’re ever to dig ourselves out of the giant hole created by the greed of those at the very top. Now for the good news: there’s finally hope on the horizon! Representative Hansen Clarke of Michigan has just introduced H.R. 4170, The Student Loan Forgiveness Act of 2012, in the House of Representatives - legislation designed to lend a helping hand to those struggling under massive amounts of student loan debt. For a brief summary of H.R. 4170’s main provisions, please copy & paste this URL into your browser: http://tinyurl.com/7akydbk To read the full version of the actual bill itself, please go here: http://tinyurl.com/6txure8 To read answers to some of the most frequently asked questions about The Student Loan Forgiveness Act of 2012, please go here: http://tinyurl.com/8xh4csd Student loan debt has an undeniable and significant suppressive effect on economic growth. The Student Loan Forgiveness Act of 2012 directly addresses this enormous boot on the neck of the middle class and represents a glimmer of hope for millions of Americans who, with each passing day, find that the American Dream is more and more out of reach. Therefore, we, the undersigned, respectfully request that Congress bring H.R. 4170, The Student Loan Forgiveness Act of 2012, up for consideration and commit to holding a straight, up-or-down vote on it this year. Thereafter, we, the undersigned, respectfully request that President Obama sign this legislation into law.
Total outstanding student loan debt in America is expected to exceed $1 TRILLION this year. Millions of hardworking, taxpaying, educated Americans are being crushed under the weight of the educational debts, while the economy continues to sputter. Support a REAL Economic Stimulus and Jobs Plan. Support The Student Loan Forgiveness Act of 2012

Support The Student Loan Forgiveness Act of 2012

By Robert Applebaum (Contact)

To be delivered to: Rep. John Kline (MN-2), The United States House of Representatives, The United States Senate, and President Barack Obama

Since 1980, average tuition for a 4-year college education has increased an astounding 827%.

Since 1999, average student loan debt has increased by a shameful 511%.

In 2010, total outstanding student loan debt exceeded total outstanding credit card debt in America for the first time ever.

In 2012, total outstanding student loan debt is expected to exceed $1 Trillion.

In short, student loan debt has become the latest financial crisis in America and, if we do absolutely nothing, the entire economy will eventually come crashing down again, just as it did when the housing bubble popped. Reasonable minds can disagree as to the solutions, they cannot, however, disagree on the existence of this ever-growing crisis, as well as the unsustainable course we’re on towards financial oblivion.

As a result of more than 30 years of treating higher education as an individual commodity, rather than a public good and an investment in our collective future, those buried under the weight of their student loan debt are not buying homes or cars, not starting businesses or families, and they’re not investing, inventing, innovating or otherwise engaged in any of the economically stimulative activities that we need all Americans to be engaged in if we’re ever to dig ourselves out of the giant hole created by the greed of those at the very top.

Now for the good news: there’s finally hope on the horizon!

Representative Hansen Clarke of Michigan has just introduced H.R. 4170, The Student Loan Forgiveness Act of 2012, in the House of Representatives - legislation designed to lend a helping hand to those struggling under massive amounts of student loan debt.

For a brief summary of H.R. 4170’s main provisions, please copy & paste this URL into your browser: http://tinyurl.com/7akydbk

To read the full version of the actual bill itself, please go here: http://tinyurl.com/6txure8

To read answers to some of the most frequently asked questions about The Student Loan Forgiveness Act of 2012, please go here: http://tinyurl.com/8xh4csd

Student loan debt has an undeniable and significant suppressive effect on economic growth. The Student Loan Forgiveness Act of 2012 directly addresses this enormous boot on the neck of the middle class and represents a glimmer of hope for millions of Americans who, with each passing day, find that the American Dream is more and more out of reach.

Therefore, we, the undersigned, respectfully request that Congress bring H.R. 4170, The Student Loan Forgiveness Act of 2012, up for consideration and commit to holding a straight, up-or-down vote on it this year. Thereafter, we, the undersigned, respectfully request that President Obama sign this legislation into law.

Total outstanding student loan debt in America is expected to exceed $1 TRILLION this year. Millions of hardworking, taxpaying, educated Americans are being crushed under the weight of the educational debts, while the economy continues to sputter. Support a REAL Economic Stimulus and Jobs Plan. Support The Student Loan Forgiveness Act of 2012

normal equals angry

Dear Rob,

I read this email and immediately decided against the prospect of speaking up. However, for some reason I didn’t remove it from my inbox. My story is not one that concerns any extreme of rich or poor. The more I thought about this the more I realized my story is exactly what other students may want to hear. It may be what they need to hear. Where to begin?
I was raised in a perfectly middle-class family. My mother, who is primarily my sole supporter, is a philosophy professor at Bloomsburg University in Pennsylvania. I even went to a rather well off all-girls international boarding school for most of my high school. When I graduated, college was not an option; it was the next step. This all seemed natural to me, but in retrospect I was incredibly lucky. I have always had insurance. I have always had someone to fall back on. I would have even had free tuition at Bloomsburg University, but it was a very small university and after living away from home since 15 I felt that I needed more. I went to Indiana University of Pennsylvania and still received half off of the tuition, that wasn’t more than 20,000 a year to begin with. This was about a $11,000 a year for me and seemed (and still is) cheap in comparison to other colleges I was accepted to like the CUNY schools or UMass. This is why I took out some FASFA loans and didn’t even think about it. Luckily my mom paid for everything else like food and housing; I barely even worked during school because I hadn’t been raised to think that I needed to. As I write this I realize how snobby it all sounds, but this was not the case. My mom is a professor, she knows how hard classes can be and wanted me to have every opportunity to do my best. We accept the working college student as a standard, when really this could not be farther from the case.
In the end I graduated with two degrees. One in journalism and one in political science. I did this in five years. I did so with honors and a shining resume, but this resume wasn’t cheap. I have two liberal art degrees, which means I NEEDED internships and study abroad credits. I did all of this. I had an internship at the World Wildlife Fund headquarters in D.C. I attended Georgetown University that same summer and earned credits. I studied abroad in Australia and gained a better understanding of their laws, especially in the field concerned with aboriginal rights. I joined Habitat for Humanities and helped rebuild after Hurricane Katrina. I have all of this and more, but not for nothing. My mom paid for every summer excursion (really it was a necessity for my degree) which meant she had less to fork over when it came to everything else college required. Finally I graduated with what I thought would be a pretty clean slate. I checked my student loans and was shocked. This sounds strange but in the last two years FASFA gave me more money than I needed. I never asked for it and they never notified me, but because my grades were so good, several extra thousand dollars were sent to my school. This is money that I now have to pay back. My degrees are useless right now. I wanted to go into graduate school but knew I would be putting myself into the kind of debt I couldn’t sleep at night knowing about.
It would be a lie to say South Korea was my only choice, because maybe it wasn’t. I knew I had 3 months to start repaying my loans. I knew my degree (either of them) was not in demand and the longer I looked around the more time I was wasting. I was accepted as a teacher in Korea with a high enough salary to start paying it all back. My mom still helps me some and if I ever needed it she would help me more. I plan to go into graduate school for international relations and this whole experience probably looks good on my resume in the long run. I may not be the happiest person, but I am not struggling. In fact I have never gone without. However so many people feel that the only way they are allowed to blame the US government is if they are suffering in unimaginable ways. I could say more about my own story to justify why I am angry; we all could. However, my story is still one that should have gotten more. My interest rates should be lower. My time before repayment should have been longer. My field should have more jobs in it. God forbid I didn’t have at least one person to rely on or it would have all been a lot scarier. This is my story. One that seems so normal to people and even to myself. As regular is it may be it is still one plagued with serious injustice and looked over by a country that no longer cares. I can only imagine what other people have to say.

Best,

Carley


Dear Robert,
     I appreciate your determination to move forward with getting student loan debt forgiven. However after looking into the possibilities for myself I am quite deterred. I want to share a snippet  of how I am not helped by Obama’s forgiveness program. I have been teaching in Borough of Manhattan Community College full-time since February 1994. BMCC of the City University of New York is a public sector employer. According to government authorities my employment would qualify for loan forgiveness. I consolidated my numerous student loans amounting to around $96,000 under the Federal Consolidation Loan program with Key Bank (AES Success is the loan manager) in August 2003. It’s now eight years into paying this Federal Consolidation Loan, and I still have a balance of $72,000. To “take advantage” of the forgiveness program recently enacted I would have to apply for a Direct Consolidation Loan and the clock starts again with ten more years of employment in this or another public sector job. To say that I am frustrated is an understatement. Why has there been no “grand-fathering” for people as myself for years spent in repayment of Federal Consolidation Loans?? Were I to apply for a Direct Consolidation Loan I was told I would have to make monthly payments (tied to my income) of over $840. I am currently paying $600 monthly to AES Educational Services. Not much of a bargain and to boot were I to go for the more costly repayment loan and work another ten years (I would be 75 years old at that time!!) I would be forgiven the remaining amount but receive a 1099 form for the amount forgiven and have the “privilege” of paying federal and state taxes on the amount forgiven as income. Is there anything that you can do to make my case/plight known and press for credit for years paid under the Federal Consolidation Loan Program?
Best wishes in our struggle,
Jonathan
Jonathan Lang, PhD, PHD, MPH
Associate Professor, Philosophy and Psychology
Borough of Manhattan Community College of CUNY


Dear Robert,
I appreciate your determination to move forward with getting student loan debt forgiven. However after looking into the possibilities for myself I am quite deterred. I want to share a snippet of how I am not helped by Obama’s forgiveness program. I have been teaching in Borough of Manhattan Community College full-time since February 1994. BMCC of the City University of New York is a public sector employer. According to government authorities my employment would qualify for loan forgiveness. I consolidated my numerous student loans amounting to around $96,000 under the Federal Consolidation Loan program with Key Bank (AES Success is the loan manager) in August 2003. It’s now eight years into paying this Federal Consolidation Loan, and I still have a balance of $72,000. To “take advantage” of the forgiveness program recently enacted I would have to apply for a Direct Consolidation Loan and the clock starts again with ten more years of employment in this or another public sector job. To say that I am frustrated is an understatement. Why has there been no “grand-fathering” for people as myself for years spent in repayment of Federal Consolidation Loans?? Were I to apply for a Direct Consolidation Loan I was told I would have to make monthly payments (tied to my income) of over $840. I am currently paying $600 monthly to AES Educational Services. Not much of a bargain and to boot were I to go for the more costly repayment loan and work another ten years (I would be 75 years old at that time!!) I would be forgiven the remaining amount but receive a 1099 form for the amount forgiven and have the “privilege” of paying federal and state taxes on the amount forgiven as income. Is there anything that you can do to make my case/plight known and press for credit for years paid under the Federal Consolidation Loan Program?
Best wishes in our struggle,
Jonathan
Jonathan Lang, PhD, PHD, MPH
Associate Professor, Philosophy and Psychology
Borough of Manhattan Community College of CUNY