You talk to these people and they say that after this degree you can have this job or that job. There are no jobs that the degree can get that even come close to paying off the loans. I just can't pay the huge loan payment amount. I have deffered and used forebearance and now I am left with not enough money and around $50,000.00 in debt. My credit is wrecked because of it. It isn't a matter of not wanting to pay it is a matter of not being able to. I have got to get out from under them somehow.
Melanie
of PA
@
Oct 16, 2009 12:07:26 PM
What about non disabled people
I am like a lot of the above people. I am not physically disabled but there is no way I am ever going to be able to pay off the loans. First is there any way you can get out of the loans via bankruptcy (Which is fine because I have no need of getting any more debt.. I have a car house, and will do whatever it takes to never get in debt again.) Secondly.. what happens when you don't pay. Do you just go to jail? For how long? I'm a writer/minister so a year or two of solitude wouldn't be that bad for me. HEck most of my friends who are writers pay for that lol. But seriously is there any hope for people who aren't physically disabled or do I need to go chop off a lower leg or something.
David Littleford
of TN
@
Sep 29, 2009 16:24:20 PM
I don't know what to do
i am a parent of three children i never finished school and i don't have a fancy job i am barely making it and i recieve food stamps i don't know how to pay my student loan.I am so tired of big business getting bailed out.What about the normal people.
Michelle
of PA
@
Sep 28, 2009 20:50:23 PM
The cycle
My husband and I are about to start paying back our loans! Scary because we just never thought they would come due. School was fine, but finding that great job just isnt going to happen. We are strapped already with a house payment, one income and such! These loans mean that side jobs will take up any and all free time, while our daughter remains an only child because I am seriously to afraid to have another kid with this much debt!!! I find it crazy that we get to pay over 100,000$ for an education we have to have, yet the jobs that are suppose to come with it arent available. It is sad and I hope and pray that I can save enough so that my daughter doesnt have to go through this!!! I figure I can pay what I can pay and that is that.
Good luck to everyone!
F Parker
of KS
@
Sep 23, 2009 15:55:57 PM
You are not alone!!
Everyone has always said to me, "Go to college and live happy with more money!" I tried that, TWICE!! Everytime I start, my friggin cars breakdown and school is all the way across town. As of right now I have no one to take me and public transportation does not go there. Now I have $35,000 to pay back and I don't know how I am going to do that. I wish I never did that at all.
Sherika Amos
of SC
@
Sep 17, 2009 12:49:31 PM
Student Loans
I am a parent, age 62, with over $100,000 in student loan (Parent Plus) debt for my two children. I should be retiring, however, my retirement savings (what is left of it) will go to trying to pay off this debt. The interest rate on some of the loans has grown, our salaries have gone down, we have a home that has been on the market for a year. We need a bailout from the government or we will be going bankrupt too. I guess we are just not "too big to fail".
Judy
of IL
@
Sep 17, 2009 08:55:02 AM
i feel the same
if i would have known going into remington college was just a way for me to get into debt i would have never gone i not only didn't get any help to find a job, as promised i now have the people calling all the time about money i can't afford to pay something needs to be done about student loan debts people are literally starving trying to pay back money for an education that is unused
faye
of TX
@
Aug 27, 2009 17:45:13 PM
the horror
Personally, I think the best option is to escape to Antarctica or commit suicide. I wish someone had explained to me earlier that college is a complete waste of time, and will ensure your debt burden remains unbearable for the rest of your life. I never would have gone.
ij
of FL
@
Aug 21, 2009 19:17:32 PM
You cannot discharge a student loan through bankruptcy
You cannot discharge a student loan and especially a loan with Sallie Mae. Sallie Mae financed many politicians in Washington and it is even legal for Sallie Mae to go into your bank account and just take the money. They did it to me without my knowledge and once I threatened to go to the media, they settled the matter, but did not return the money that they just withdrew. Two years ago the CEO of Sallie Mae was given a 300 million dollar bonus.
I don't know what the answer is...other than a coordinated grass roots movement to correct this student loan scandle.
Jan-Michelle Sawyer
of CA
@
Aug 19, 2009 14:25:05 PM
Something needs done
I have seen a few different people who are in situations like myself. I have about 40k of debt from Sallie Mae from ITT Tech.
I was told the whole time these were a certain rate which was a lie. I found years later they were variable and skyrocketed to rates higher than my credit cards. I flat out told them I'm not paying a cent at that interest rate.
I got the letter saying I'm being charged off. ITT tech was a EFFING JOKE and its crap they have no liability after sucking kids dry for a sub par education.
Hell as an IT guy I am smart enough to tell when a programmer is trying to teach Network Administration.
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Melanie of PA @ Oct 16, 2009 12:07:26 PM
David Littleford of TN @ Sep 29, 2009 16:24:20 PM
Michelle of PA @ Sep 28, 2009 20:50:23 PM
F Parker of KS @ Sep 23, 2009 15:55:57 PM
Sherika Amos of SC @ Sep 17, 2009 12:49:31 PM
Judy of IL @ Sep 17, 2009 08:55:02 AM
faye of TX @ Aug 27, 2009 17:45:13 PM
ij of FL @ Aug 21, 2009 19:17:32 PM
Jan-Michelle Sawyer of CA @ Aug 19, 2009 14:25:05 PM
Ryan of OH @ Aug 17, 2009 14:50:04 PM
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