Need advice on student loan issue

[Carol]

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Left Coast2020 (681 posts)

Need advice on student loan issue
I have this knot in my stomach right now. I have been out of the country for two years, now partially homeless, and I get this letter in the mail from ECMC with a 5 figure number I owe for my student loan. I have no clue how they found this address (possibly from my address for food stamps). I can't see how anyone can pay their student loans back -- especially if they are working a $10 an hour job. I called Sen Boxer's office and was told student loans are not dischargable--like a credit card is. I guess I default since I not a cousin of Mitt's nor have I worked at Bain Capital. What do I do? The interest is stacked against me. What should be about 25-30,000 minus the 17,000 I've already paid, the amount is well over 50. I am disgusted at our system of educating students. Yet, we have to suffer with debt. It is really depressing me. How do I handle this?

I can certainly sympathize with someone who is struggling financially, but this attitude is ridiculous.

"The interest is stacked against me."

When you take out any kind of a loan from a bank or similar institution there is interest, and the interest rate isn't an unknown.

And you don't stop paying and expect that the interest is going to stop accumulating.

Liberals: always expecting something for nothing. If our economy implodes it will be because liberals think that life and everything in it is owed to them and if someone else doesn't pay for it then we should borrow until we cannot afford to pay it back to those who loan it.

Star Member Orrex (33,632 posts) Profile Journal Send DU Mail Ignore
9. Like countless thousands of similar student loan victims, you're screwed

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At some point they're going to tell you that you need to pay them some crippling amont each month, to which you'll quite reasonably protest that you can't afford to give them that much. And then they'll say "if you can't give it, then we'll simply take it from you."

It's a nightmarish and predatory system that's more or less equivalent to indentured servitude, and the best part is that when you reach out to DU for moral support, you can count on at least several replies telling you that it's all your fault.

I've seen it many times before, and it infuriates me every time.

You won't likely get anywhere with your lender by explaining that you were out of the country. Your best bet is to ask for a hardship forbearance, which might buy you a year or so. After that, you can look into consolidating your loans, if possible, which could make you eligible for additional deferments.

Other than that, unless you're lucky enough to die or become permanently and totally disabled, then you'll be paying at least 10% of you monthly gross income until your loans are repaid.

Good luck to you and to us all.

[linda22003]

I can't get past what "partially homeless" could mean. I'm staying with a friend, but only three days a week? My apartment is tinier and shabbier than I would wish?

[SarasotaRepub]

I called Sen Boxer's office and was told student loans are not dischargable--like a credit card is.

This idiot thought Boxer would help????

AAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHHA111!!!!!!!!

[Apocalypse]

Let me translate.

I left the country and stopped paying to take a "Soul Journey" to find my self. When I returned penniless like I spent the entire Soul Journey. They had the audacity to expect the money I agreed to pay them for the great education I squandered drinking and doing drugs.

Now I live in moms basement like the rest of you eating Twinkies and Cheetos blogging all day long about how unfair this nation is while working at the local McDonald's as its the only job a late 30's uneducated bum of a man I am is qualified for.

Some one please. Send me some of your money as Mom is refusing to bail my ass out again.

[NJCardFan]

I guess I default since I not a cousin of Mitt's nor have I worked at Bain Capital.

Typical libtard thinking. Funny how they point out the GOP millionaire but don't mention Democrats, like Boxer, who are millionaires.

[noonwitch]

The problem with college now is that tuition is so expensive that no one but the rich or athletically talented can go without student loans of some sort. And, because the tuition is so high, the loans are for staggering amounts, more like a mortgage than a car loan.

[linda22003]

The problem with college now is that tuition is so expensive that no one but the rich or athletically talented can go without student loans of some sort. And, because the tuition is so high, the loans are for staggering amounts, more like a mortgage than a car loan.

State and other public universities are still a good deal, and this is an expense people have eighteen YEARS to save for.

[SarasotaRepub]

The problem with college now is that tuition is so expensive that no one but the rich or athletically talented can go without student loans of some sort. And, because the tuition is so high, the loans are for staggering amounts, more like a mortgage than a car loan.

My folks certainly helped me out but I took out college loans and paid them back over 10 years.

[Bailey]

I guess those degrees in Womyns studies didnt pay off like they were supposed too.