The following are testimonials submitted to this site. To tell your story, please go here.
I went to Devry in Atlanta GA in 1990- 1994 . the total original amount was $24000. I had repaid about 6000. They now say I owe them over $110000.
HEAL LOAN HORROR - Here is my story and I am so
thankful that there is a website like this one. In 1984 I took
out an $18,000 HEAL loan (health education assistance loan) to get
through medical school. I didn't realize at the time the lifelong
ramifications of this loan and how it has destroyed my life and my
entire medical career. The loan interest rate floated 3% above
the prime rate, which at the time was 21% or so. But as a college
kid trying to get through school, you sign on the dotted line for
money. Anyway, by the time I was out of internship and residency,
etc. the loan had escalated to $40,000. It is now $68,000 and
ticking. I was forced into a repayment plan in 1997 when I was
unemployed and I paid on this loan for over 2 years - over
$11,000. I could not continue to pay this loan because this loan
was not decreasing, it was increasing! Every dime I paid went
directly to interest. Anyway, I made a big mistake by stopping
payments on it. After a couple years I was sanctioned from
Medicare because this HEAL loan is tied to every Federal insurance
program out there. I was barred from seeing Medicare, Medicaid,
Tricare, Champus, etc. patients. I was told if I saw them, even
for FREE, I would be arrested and put in jail. I went bankrupt
and ultimately lost my entire practice and am now unemployed. I was
told that when I turn 65 they will take my social security money.
They can also take my medical license away from me if they want
to. My wife has filed bankruptcy too. Neither one of us
work and I cannot get a job. No one will hire me if I cannot bill
Medicare for patients! I don't know any thing else to do job
wise. We are a few months away from being on the street.
The US Justice Department will NOT work with me. They want the
entire $68,000 before they will let me REQUEST to be reinstated into
the Medicare program, and then they will let me know if I will be AFTER
I pay them. I am in a Catch-22. I can't work if I don't pay
it off and I can't pay it off if I can't work. My career is
pretty much over as a physician I think. I am 51 years old now
and unless I win the lottery soon, I can't pay this loan. You can
go to the website at www.defaulteddocs.dhhs.gov
and see all the people around the country that have been
sanctioned. I have been treated like a criminal and all I want to
do is help people. Something needs to be done
OK, we all have a story and mine is no different
than any of the others that I have read. Original balance is only
$2,000 but with penalities and fees it is well over $10,000. None
of us are dead-beats and we all would like to be able to make payments
on a REASONABLE amount. Question is, What do we do about
it????? I have exhausted all my efforts in trying to get
something resolved. IRS will reduce fees and penalities to settle
why the heck won't DE? If anybody has any ideas, I am all
ears. Petitions, lawsuits, anything it takes to get the mess
cleared up, I am in.
I just talked to DOE about my Sallie Mae Loan and
found out I do not have a Federal loan. Sallie Mae is now putting
students into a private loan and letting them think they are on the
Federal program. DOE cannot do anything against Sallie Mae on this type
of loan. Like many of you -- $2000 was added to principle, not the loan
itself. Ad I could not get a written statement. Sallie Mae tried to get
me to give them my checking account, but I did not. They are getting
away with it and no one can touch them.
its been like 18 yrs now since college grad ,i
live in fla, prices high , wages low, had like a whopping 500$+ month
student loan (consolidated).
When our son attended Silvan Learning center we
got a loan ($10,000)through them and it was through Sallie Mae. My
payments were being made automatically so I had not problem with the
loan. However, I noticed that the amount of interest was increasing the
the amount of principle was decreasing. Upon calling them I found that
my interest rate changed EVERY MONTH. I saw a major problem ahead.
Thank God I had enough in my 401K to borrow against and paid off Sallie
Mae before I was paying only interest. My son is getting ready for
college and I'm going to make sure none of his loans are through Sallie
Mae. Especially after seeing the report on 60 Min. on 5/7/2006.
I was raised in Mills Home Orphanage in
Thomasville, North Carolina from 1957 until 1970. I attended
Pembroke State University, (BA degree, 1975),now UNC-Pembroke.
Paid all loans; including The North Carolina Education Foundation, and
Loans from Mills Home. I received my Masters degree from FSU,
Asolo Theatre, Sarasota, FL. Then, my world crashed with my Ph.D.
from The Union Institute. As a teacher for the Miami Dade County
public school system, I thought their United Teacher's of Dade's
Doctoral association with The Union Institute would be a fair and safe
way to gain my degree.
I was enrolled at the orlando culinary academy in
2004, the lenght of the culinary arts program i was attending was 15
months and the amount was 40,000 dollars. I graduated in october
2005 and this spring I was supposed to start repaying my loans in the
anount of 829.00 a month. Keep in mind that this amount is more
than my rent and car payment combined. I recently tried to
consolidate my loans or find an a way to lower my payments and I was
informed that because I have a private loan that consolidation was not
an option. I found this particularly interesting because this is
something I discussed wit sallie mae when I was applying for my loans
and I was told consolidation would be an option. I recently got a
letter from sallie mae saying that if I paid all payments on time I
well end up paying a little over 112,000 dollars and my interest rate
now is at 13.25 percent. I did think there may have been
something not quite legal going on with this comp!
In 1992 I borrowed $8000.00 to go to school.
After graduation I consolidated my loans. It took me over a year to
find employment in this area. Shortly after my husband lost his job.
Due to my financial situation I defaulted on my student loan. It was
sent to an attorney somwhere in Chicago. I started paying on my student
loan and was now informed that I now owed $28000.00.I am still paying
my loan every month through payroll deductions every month for the past
11years.Along the way
It makes me sick what Sallie Mae and companies
like it are able to do to average, hard-working citizens who did
nothing more than try to pursue the American Dream.
I have obtained a Masters degree and have tried to stay in school because of student loan deferment. My loans have accumulated up to 300,000 dollars. Thats pretty amazing considering I haven't reached my total aggregate allowed by the US government which is 138000. How could it rise so fast and so high? Well it has been passed from company to company (carpetbaggers)who are buying and selling these loans so that they can make money off the fees and interest while they hold them. And as a student, dont default in the process because anyone of these companies will report all of these loans to all the credit reporting companies. This destroys any hope of buying a house, getting a professional job etc.Its a spiral that this sadistic capitalistic system pursues in its society.
Why does this society even charge qualified
students for their education, when in Europe most education is
subsidized by the government, all students really have to worry about
is food and study? I am sorry but this country needs to think more
socially, and less about its sadistic capitalistic nature. When society
starts to attack its professional base we are in trouble. Its not
enough to outsource, or to leave unsecured borders, or to have
tremendous trade deficits. The dictator and totalitarian corporations
are giving themselves multi-million dollar bonuses.
My name is Jeanne. I am a 31 female with a BA in Psychology. In 1998, I took out student loans after receiving my Associates degree in Psychology. I went through my grace period and then consolidated my loans with a company called SunTech. I owed roughly $15,000 and paid my monthly bill on time each month for about a year. I wanted to go back to school to further my education and contacted SunTech about this matter. I had my current school that I was attending fill out all appropriate forms and passed it on to SunTech. I received notice that my loans would be deferred until the year 2007. About a year ago, I discovered that SunTech had taken me off that deferrment and had sold my loan to a company called H.E.S.C. I was never notified until I started receiving the typical student loan "hate mail". I am now in student loan default and owe H.E.S.C. over $34,000. I wish I had the money to just pay it and get rid of it, but a degree in Psychology hasn't really gotten me anywhere.
I am single and paying all other bills, i.e., car
payment, rent utilities, etc, on my own with no one to help me.
After all my other monthly bills are paid, including groceried and the
ever-rising prices of gasoline, I have nothing left over. I am
now not only suffering from being a college graduate living paycheck to
paycheck and barely surviving, but now I have the anxiety of wondering
if this collection agency (which I discovered is part of Sallie mae) is
going to find out where I work and garnish some of my wages. Why
is this being allowed to happen to so many people and why is noone
doing anything about it? This is ridiculous. If I knew then
what I know now, I just wouldn't have bothered going for my BA or would
have taken 1 class at a time and paid for it out of pocket. I
guess the old saying still remains true, that the rich get richer and
the poor get poorer. On the brighter side, another old saying
still remains true and it is, YOU CANNOT GET BLOOD FROM A STONE!!!
I am in default $50K.....I will never be able to
repay this debt....my annual wages are less than the amnt I owe. My
wages are now being garnished 15%....I feel like killing myself....I
will work forever & never have anything....I live sub-poverty
One of the proudest moments of my life was when I
walked up the aisle at graduation from the University of Miami. I had
been selected to represent all the non-traditional adult students
graduating that year up on the stage and shake all the VIP's hands. I
was representing not only my family and myself, but all the working
adults, who like myself, had attended evening and weekend classes (in
my case for six years) in order to get their degree from this great
Borrowed HEAL loans ($42,000)and graduated in
1992. Was able to begin making payments in 1998. Injured 6 months
later. I'm ok with the interest and fees up until then. After 1999. 3
attorneys not able to practice in my state, lied to by head of
litigation for Sallie Mae, and my case sat in the court system to be
dismissed for lack of prosecution by the judge in 2003 after it sat on
his desk for a full year. Nothing sice 2003. Now working with the SLRO
for help. They have declined cash settlement offers.
My name is Adrienne I took an student loan with
sallie mae back in 2003 i was 17 at the time and i was told sallie mae
was one of the best companies to go through when i graduated back in
2004 my student loan advisor told me not to forget to consolidate my
loans when i called sallie mae i was told they do not do that because
thier an private loan company since then the intrest rate on loan has
went through the roof i started out owing 12,000 dollars now i have no
idea what will be the cost when i'm done because my intrest rate keeps
increasing. if i ever get done payinf it off.
I graduated in 98 and was told by counselors that
I should expect to make 30k - 40k
I decided in late 2002 to attend a place called
"FullSail University" in Winter Park (outside Orlando) FL. BIG
MISTAKE!! In order to attend I had to take out loans, as this is an
expensive school AND a full 24hr facility. They also recommend "cost of
living" loans to be included with the loan you take out. Unless you
want to work after having a 12 hr day at FullSail. Anyways, I was a
little leary about taking out such a big loan, but I was assured I'd
have plenty of time to pay them back and the interest will always
remain low. At this time they showed me interest rates of 3-5% as
examples. So, to start out with I had an original loan of roughly
$28,000. As time passed I learned the equipment and software was NOT
industry standard for the field of study I was in.
Fast foward to today and what started out as a loan of something like $28,000 is now $32,685.62. On top of that, if I'm having a hard time making payments and I try explaining this to the Sallie Mae "customer reps" I get comments like "well no one put a gun to your head!". Which is true, but no one also told me "well, this school really has junk computers, old software, a larger student to teacher ratio than you originally were told...Oh and those low interest rates that look appealing will jump up to 7 and 8%". If I had know even ONE of those things before signing the line..I would have threw the loan application in the trash.
How am I supposed to ever start a family now with my wife?? I make $12hr which may sound good, but when you think of how much it costs to just get by today, it's not so good. All I can BARELY afford for the loans ,here and there, is a payment of $250 or so. With those payments I'm told it will take over 15 years to pay off my loan and by the end a $28,000 loan will have totalled $53,000!!!!!! They tell me the largest ammount on my loan, which is a private loan, can't be consolidated, can't be discharged in a bankruptcy..nothing! It's the untouchable loan!!! So I'm in real trouble here! I even had to file for bankruptcy to try getting back on my feet from other debts and thanks to Sallie Mae..I STILL CAN'T!!
But still...I have no clue how to handle or rationalize that a person of such meager means as myself is going to end up paying over $50,000 to some massive corporation for ABSOLUTELY NOTHING!! As I said earlier, I left the school, so I have no degree and no job related to my field of study. I'm paying debt for nothing.
Sorry for such a long story...to anyone who actually reads it.
Regarding my son, the total amount borrowed was $37,729 disbursed to school on 2/17/04 (although the school shows 2 payments equal to that amount, one posted on 2/18/04 and the other on 9/24/04) has been charging interest for that total amount since 2/17/04....interest is now up to 16.25%, was 16% just last month. It seems to be going up each month. The school said the payment would be arount $300/mo, what a crock of crap. If we had known this, we would never have agreed. The loan (alternative) was at first private, but then Sallie bought it and the interest rates are outrageous, must be criminal. How do they expect an unemployed 22 y.o., without a car, to begin to pay a monthly bill of over $700!!!!! This is a real hardship, unacceptable. The school lures you with indications that your payments will be really reasonable and then....BAMMMM, the crap hits the fan. If someone doesn't do anything, this so called country of education will soon be in a very very bad situation. I have restless nights unable to sleep just bewildered at which these people are getting away with. Perhaps everyone in this situation should just stop paying them and let's see what would happen.
I have two outstanding student loans with Sallie Mae that have account numbers that are no problem. Unfortunately I have two closed accounts through SM Servicing that use my ssn for my account number on my credit report, thereby revealing it to anyone who requests a copy of my credit report. It wouldn't be too hard for anyone with just a piece of the ssn to figure the rest out.
For the last six months or so, I have contacted Sallie Mae numerous times with several more recent promises of letters to the bureaus and myself. NO follow through on changing the account number or delivery of the letters has occurred. This has continued for at least 6 months.
I know I'm not the only person with this problem and I also know this problem is widespread. I would imagine fixing all of the mistakes could get costly for them, hence the probable source of their lack of motivation. Here's an article I found from 3 years ago, but I haven't been able to find anything more recent. Any ideas? I would be happy to participate in any class action lawsuits that are in progress or initiated!
Thanks for any advice you might have.
I grew up in a very poor family in a low income area in Pennsylvania. As soon as I hit 14 years old I got a job and since then I've always had my own income. My family lived paycheck-to-paycheck my whole life and didn't have any money to help me go to college. In fact, they had debts of their own. Their credit wasn't the greatest and so I had to get my grandfather who was retired to cosign for me.
Thinking back now, I should have handled it a little bit better but I was fresh out of high school and I was determined to get my "dream job" as a programmer in the games industry. I picked my school, and signed whatever paperwork I needed to sign and went off to school. I guess I felt like I had no other choice but to accept their nasty interest rates. I had little to no credit since I was so young.
When I graduated school, I was lucky enough to have a great resume and I landed my "dream job" at a huge gaming company, and the pay is very good at 50,000 a year. Even with this high pay, I'm still living paycheck-to-paycheck and I feel I'm going to be stuck with this for a long time to come. I have just over 100k in debt and most of the loans have an interest rate of 16.25 percent! I pay $1150 a month and thats just interest-only! I don't understand how this is legal!
I consolidatd student loans and these story's
that I read here are HORRIBLE!
I went to school at Le Cordon Bleu in Miami,
where I met three students who had begun their schooling and were given
the "ok" by the financial aid and planning department, only to be told
halfway through their schooling that their highschool educations did
not meet the requirements of the school, so they would have to take
care of that and start all over again. Quite an oversight, don't you
think? Maybe they weren't. So, the two who wanted to continue earning
their education there had to start over again, losing months of their
lives and having to pay double for whatever classes they had already
taken. I, personally, started with $41,000 or so and now I owe $53,000
only a year later. Since I could not begin payments, I put the loans in
forbearance; when I did, the interest was "capitalized". I cringe
thinking of the mountain of debt I face - and the petty amount of cash
I am earning. Day and night I will be having to work from now until who
knows when to!
Hello, folks. Thank you for the opportunity for
me to tell my
Here is an approximate timeline of events pertaining to my
I started at a junior college around 1980 and continued on and
When I got out of boot camp I went back to school and my
In December of 1986 I went on a school trip to the mountains
Then the bills started coming in. I only had Travellers
Insurance at the
I called the lady at the student loan company to explain to
her what happened.
Throughout the '90s I went from job to job and the collectors
kept calling. One
I arranged a payment schedule with a
When 9/11 happened and for a long time after, there were no
jobs. I could not
Now, in January 2007, things are starting to look up, although
layoffs are once
A couple of days ago I received a letter and forms from the
U.S. Department of Education.
I went to Phillips Junior college ( Melbourne , fla.)back in the early nineties, while I was in the Air Force. Well I got called to serve in Desert storm and had to quit my school. well after the air force my loans went into default ( was real hard to find work) . A few years later my taxes were held back a few years. ( Fair enough). Well 14 years later I start getting calls about how I am in default of my student loans. I told the customer service rep for the company i will not name, ( Pioneer Credit recoery) that My loan was paid because my taxes were withheld those years. Well she pretty much told me to prove it. So i called the IRS, HA! HA!... What a joke , they said there records dont go back that far. So what happens , a few months later big chunks start coming out of my paycheck every week. I am screwed. They use the Dept of education to bully my payroll dept to start the deductions. ( they meaning Pioneer )As if that wasnt a big enough slap in the face my original loan amount ( if it wouldnt have been paid by my taxes being withheld) was $5103.78. well after they tacked on their fees and so called interest it came to $9949.37. And what can i do about it? Nothing ! Lay down and take it. As if ends arent hard enough to meet already. Crooks !!! And they are getting away with it. Every two weeks I am reminded as i look at my paycheck. When it all said and done I will be paying over $15000.00 for a $5000.00 loan for scool that I didnt get to finish because I had to go fight for our freedom so companies like Pioneer And the US Dept of Education can rip people off and live like kings...........
I don't even know where to start.....I guess the
name SallieMae says it all.
Current Amount Due: $38,475.13
My son was affected by Hurricane Katrina. He was
living in New Orleans and lost his apartment, his vehicle and a new
job. He had to move back to Florida and try to get re-established.
SallieMae did not care. They had no concern for my son or anyone else
affected by the storm. He finally was able to get back on his feet by
working as a server and a with little help from FEMA. He is working now
in the field he went to school for and trying to do what he can just to
"live". The payments are more than his rent agreement and higher than
my mortgage. I have taken a second job and have started making payments
to Sallie Mae, however, the confusing billing system leaves me stymied
and I don't know what I'm sending payment for or how it will be applied
to the loan. We tried to secure a home equity loan recently and
although not entirely denied we were unable to secure the amount we
were seeking due to the SallieMae loans. Of course, now they are
calling and telling us we will be refer!
I started going to school in Overland Park, KS at a Corintian College. I was so stupid to the workings of the student loans. Sallie Mae offers up the loans to this school that doesn't transfer their credits anywhere that would do you any good. You obtain Diplomas. Then you have to fight and actually pay the school for your grades that were obtained while attending their school. Well once again I started back when I moved to Florida with my worthless Diplomas from Wright Business School. I should say that the diplomas were worthless to me not Sallie Mae over ($25,000.00) in debt for worthless diplomas, credits that do not transfer to other schools. Now my saga continues at Florida Metropolitan University (Lakeland Campus) I began working on my degree in criminal justice (ha what a joke, you can not get a job in this field when your credit is bad, which Sallie Mae make sure happens)I was to the point that I only needed 2 classes to obtain my BA in Criminal Justice, now I year later I try to return to finish what I thought to be my last 2 classes to find out that I need 14 more classes to finish now. So I guess I will have to attend school until I die and never be able to work in the field of my choice due to my very poor credit all thanks to SALLIE MAE.
I graduated from Florida Technical College in
1997. I started to pay back my loan as much as I could but in 1999 I
fell ill with kidney failure and fell behind on all my bills. I had two
vehicles reposessed and just about lost my home. After a couple of
years trying to pay and catch up on past bills myself it came down to
having to claim chapter 13 bankruptcy. In 2006 I was able to pay off my
bankruptcy early and and clear up alot of my bad debt. The only major
debt I have now is my student loan which was with Sallie Mae but is now
with the state of Florida. It is in collections and I have gotten a
phone call from the collection agency and what they are offering me now
is to pay the loan off in full or make $900.00 per month payments for 1
year to clear this debt. I can't afford that in any way shape or form.
Like alot of other people I have a family to support and a mortgage to
pay. For the first time in 10 years we are almost back on our feet,
dispite having kidney failure again and being on dialysis for the past
two years for the second time. (My wife gave me this kidney in 2001 and
it rejected in 2005.) I have contacted other lenders about
consolidating the defaulted student loan at the request of the
collection agency but the lenders are telling me because it is in
default they could not help me. I don't understand, I'm trying to do
what I'm told and the collection agency tells me to get it consolidated
to clear up the debt with them but no one will consolidate because it's
in default. I'm still trying to find another lender because the last
thing I want is the embarrassment of a wage garnishment.
Where does one begin? Am I like the thousands of
others the worked for 25 years in an industry such as the Apparel
Industry? During the late 1980 went the leading Major Dept. stores all
went Bankrupt do to the Canadian Developer using Junk bonds, and he
bought Allied, Federated, May Company, and others that let them down
the road to Bankrupty; leaving the industry in shambles? So many people
in sales, managment, and other positions were sent looking for new
careers; what happened?
Am I like so many other family members that went through the pain of going back to school part time, and working full time, and having no life for 2-3 years while studing, and accumlating dept with student loans, and credit cards to meet the bills?
Yes, I guess so. I went back to College to retrain myself as a Middle or High School History Teacher. Only, to my surprise I did not know that my previous AA Degree earned 20 years earlier would not be accepted by the new college, and they wanted me to retake courses over again. (Wasnt't that swell of them?)
Too make a very long story a bit shorter, I passed all my courses, and retook Alegebra twice (failed the first course), and then they expected me to take Intermediate Alegebra too, which I did, and took it again, and took it over again because I could not understand, and pass the course. Oh yes, I was excellent in History; which is what I wanted to teach.
All the while when in College, I took a job as a Substitute Teach too, so I could work for a living and go back to school. The Principles at various schools wanted to hire at a History teacher; however, I could not pass INTERMEDIATE ALEGEBRA, AND COULD NOT EARN MY DEGREE!! FIFTY THOUSAND DOLLARS DOWN THE DRAIN.
I had meetings with the Dean of Nova University, and practically begged them to pass me in INTERMEDIATE ALEGEBRA; let me write a term paper; please, and just pass me. NO, ITS UP TO THE PROFESSOR. These Professors in Math Dept; they are BLACK AND WHITE IN THEIR THINKING; either you pass the tests or fail.....I failed.
I am sorry, this subject is a very sore one for me; brings back bad memories. I found out about this web site speaking to a gentleman today who wanted to me to consolidate my student loans, and the subject itself; just bring out the worst. I explained what happened,and he suggested I go to this site.
I OWE VIRTUALLY NO MONEY TO ANYONE; EXCEPT THIS OUTRAGOUS STUDENT LOAN THAT KEEPS GROWING. ITS A DAMN SHAME THE UNITED STATES IS SPENDING (WASTeING) SO MUCH MONEY ON THE WAR, AND CANNOT HELP ITS OWN WORK FORCE.
Yes, I am one of thousands of others who had good jobs, paid taxes, raising a family, and whose industry went down. And our goverment says, and still says "Go back to College and reeducate yourselves". Well I did to the tune of 50,000.000
I do not know if anyone will read this or give a damn. But they should. People who lost their jobs and went back to school, only to be in big dept to this Universities who really do not give a damn. I mean if the United States really believes in educating their work force, then they should help in a major way with for students wanting to go to College. This country needs to declare a WAR not on IRAQ, but on Education, because if we lose our population to less education, and less standard of living, then we will lose our standing as a world power too. What has happened to our NATION?
Well, First i would like to say that I am totally shocked at all the different horror stories about Sallie Mae. I can't believe that in the United States of America, people are made to feel less than nothing for making the choice to receive a Higher education.
My horror story basically starts the very moment i decided to go to AIU. My fiance at the time (Darren)decided to go to AIU. He was working, but wanted to further his education due to pressure from his parents, and a need to at least try for a higher paying job. I was receiving Food Stamps, and doing people's hair on the side as a way to make money.
Due to car problems, and no childcare, i stopped going to Aiu in 2002. November 2002 to be exact. I was disbursed a loan in Oct 02-1 for $1667, and another for $3,667. I would have assumed that these would have been sent back to the lender, or at least part of it because i stopped going the very next month. I was in an accident a totaled our only transportation.
Last year, I was contacted bu American Education Service, or AES about student loans that i had and may be going into default. I explained i was unemployed but agreed to the forebearance. AES was really nice, and i am currently on forebearance until september this year.
NOW>>Apparently there was another loan allocated to me in June of 02...4 months before the other loans. these loans however are now (so they say) in default and Pioneer Credit recovery is handeling them. These loans are with Sallie Mae.
my husband already is in a repayment agreement with them for his loans, because they called his job, neighbors, anyone they could to get in touch with him. (we had no phone at the time) when they reached him last year, they threatened to garnish his check, and we couldn't afford it, so he agreed to payment arrangements. Supposedly for 6 months..then he will be back in good standing..(NOT TRUE) 6mos became 9mos, then that became 12. And God forbid he miss one payment, he had to start over again.
Being that he was in a contract with Pioneer, they are not supposed to garnish his paycheck, or Income Tax refund. But then when we filed this year(06) the much needed check was put on hold. Only to find out that it was for MY loans. Loans I had no idea I had with them. I called. This woman Sherri, a supervisor, talked to me like i was nothing. I mean she talked to me saying things like, you made the choice not to work, you got the loans, i don't give a damn about this and that. Now people who know me, know that usually i would have cursed this b**** out...lol..or at least fired off at her with my own quick temper..but i was upset that my $$ was being held, so i just hung up.
My easy going, non argumentative husband called, and she went off on him as well. he tried to explain that i am not working. We filed married filing joint because we have to to get earned income credit. There is no W-2 in my name or employment records. and He is under a contract with them already, so how can they take the refund..they are trying to stik it to me, while breaching the contract with him. The woman also lied, she told me the loans went into default in Oct 06, and told my husband Oct 05. But In september i called the other agency (AES) and filed for forebearance. Don't you think if i would have known about another loan, i would have did the same thing? I mean rather than be harassed only a few months later.
We called the tax advocacy dept, because the actual money is not in their hands as of yet. we are filing an injured spouse claim. This whole thing is confusing, but i am not one to be bullied. They sit behind their desks on the phone, they belittle good people, hard working people, and make you feel like crap for seeking a Higher education. Then once you have that education, you still can't find high paying employment, so you are basically back at the point you were before you put yourself in debt. To make matters worse, their repayment plans put you in debt in other ways. You will always be robbing peter to pay paul.
I really think that something needs to be done. It is time. These people are vultures. They called neighbors leaving messages for me to call them. They didn't know if i knew these people or not. My one neighbor ssaid she got a call asking her did she know Latia who lives at such and such address. She said I don't know her, but that is right up the street. They gave her the message anyway. HOW CRAZY IS THAT!!! I understand that student loans are debts, and nee to be repayed. I agree. I don't agree that they are so cruel, and so heartless, that they totally disregard anything going on in your life in order to get payment. I mean this has got to be stopped.
Now I am a stay at home mom, 1 kid in college and
pregnant..the baby is coming to stay with us so my daughter can finish
school, we have 2 teens in high school(one close to graduation) 1 in
Middle school, and No income tax return, to take the edge off the
bills. A friend of mine told me when she was at her lowest, layed off,
no family alive to help her, single, living off of unemployment, and
had school loans, Pioneer credit recovery breathing down her neck. She
told them, crying on the phone thay were gonna make her kill herself,
cause they were making it hard for her to keep a roof over her head.
She was told, Well If you try and don't succeed, Please make sure the
funds are in the bank for your payment!!!!!
In 2001, I attended a secretarial school in Massachusetts. I needed to take out a student loan to help pay for my tuition costs. A mediocre amount of $2,0000. Six weeks before graduation, my school was bought out and the campus that I attended was closed down. They gave us no warning of this action. We where advised that to continue for our last six weeks, we could attend the school that bought ours out a hour away. No problem I thought. I made the long drive to school everyday and graduated.
When it came time to look for employment, however, I was told that they could not verify any of my records from the secretarial school and that it was shut down before I supposedly graduated! That same week of job hunting, my x husband had thrown me out of the house and I was homeless. I knew according to my paperwork that I had up to 6 months from graduation to start payment on my student loans.
The only job that I could find in the area was at a amusement park. I made a mediocre sum of $6.25 and hour. Cost of living in Massachusetts was so high that I decided to leave the state and move to Florida. A year went by and I did not hear anything from Sallie Mae. I finally contacted them, told them my situation and received a deferment. In 2003 I finally got a decent job and notified Sallie Mae that I would like to start paying on my loan there was one problem, they wanted $400 a month! I told them that there was no way I could pay that amount but I could pay $200 a month.
So here I was paying $200 a month even though they said $400 tough for them I am paying something, what I could afford. I noticed that my money I put in wasn't changing my balance but increasing it! I was furious, because I thought that the government regulated the interest and that it was like 1% or something like that. When I called Sallie Mae they said the loan was transferred to this bank and that bank. I told the lady look I am very ignorant person when it comes to loans and credit what is going on? Her explanation was giving me a headache, so I hung up on her.
Since my payments where not making a dent into my loan, I stopped paying them. The calls started. Harassment! I told them "look fools", "why pay when I will owe more? Fuck that!" I have ignored, ignored, ignored them. I have been forced to work under the table for the last 2 years. I will never be able to buy a house. My future is very bleak. Last time I checked, my $2,000 loan is now up to $12,000.
To most of you that might seam like a very small sum. But for someone who can only find work at minimum wage level it is impossible.
I do not have a family or friends that can help me. I am all alone in this world. But you know what, I don't let it get me down. I am willing to volunteer or do whatever needs to be done to stop this atrocity from happening to someone else.
Someone had mentioned "what if every all at once said NO WE ARE NOT GOING TO PAY YOU. Even if it is just for a month, I think that is the only way we are going to catch the governments attention.
Like any other high school student I was told that you either go to college or you end up a bum. What suckers are we?
I wanted desperately to go to a private university because it was one of the only schools in the country (and the only in the state) to offer the degree I was looking for. The university was ridiculously expensive and yet it was shoved down my throat. When my father told the school officers that he didn't want me to be in so much debt, they made him feel guilty. I probably didn't help.
These corporations are so quick to sign 17 and 18-year-olds and their parents into this trap without even the slightest moral regard. They don't warn you of the risks. They don't tell you any of the horror stories. They only tell you where to sign and never make the reality of what these jerks to do you known.
In the end I got a degree and $80,000 in student loan debt. $20k is federal and the other $60k is private. I've already defaulted on the private loan after paying back $6,000 that hadn't even touched any bits of principal. Unless I get the world's most spectacular job or win the lottery, I'll never end up paying back these loans without putting myself in hardship. I know this now, and I'm 26. Either that or I'll being paying these loans off until I'm 55, which leaves me 10 whole years to save for retirement. NOT an option.
The only ray of hope I have is the fact I got a job overseas and now live in Australia. I WILL still pay my loans, but only as much as I can currently afford - which is about $250 US a month. At this point I could care less. They can go ahead and garnish my wages (maximum %15), but they'll have to go through an international court system with international layers - all to end up with about $200/month.
Honestly, I think it should be illegal for new students to sign up to so much life altering debt without a full briefing on what can happen. If someone had told me the realities, I'd never have gone the way I did.
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