Christopher Mark Leger
Christopher Mark Leger

Yeah, that'll help your economy...default on your loan....that you signed and rightfully owe! That way those of us that actually paid our way fully, got jobs because of our grades, and are now gainfully employed can take on your debt with larger education taxes! Education is not free, and shouldn't be provided at a discount after the fact! Put your drinks down and take some responsibility for yourselves. Stuff your petition!

Annie Armstrong
Annie Armstrong
  • Christopher Mark Leger

How the Hell are you taking over their debt when they'll be struggling to pay it off the rest of their lives? We are given the options of student loans, so that we too can move on to a better life, default or not, you are no better than anyone else. Did mommy and daddy pay for your education, or did you have to struggle from the bottom up? If your parents paid, then shut up. when you say "your economy" are you even an American or citizen of another country struggling with this problem? If...

How the Hell are you taking over their debt when they'll be struggling to pay it off the rest of their lives? We are given the options of student loans, so that we too can move on to a better life, default or not, you are no better than anyone else. Did mommy and daddy pay for your education, or did you have to struggle from the bottom up? If your parents paid, then shut up. when you say "your economy" are you even an American or citizen of another country struggling with this problem? If you had to start from the bottom up, how about a little Empathy here? Put yourself in our shoes! Note, I said EMPATHY.

Monique Buckner
Monique Buckner
  • Christopher Mark Leger

If you paid your way fully, you must be a very wealthy man. If you read students' stories, you will see that their debts are rocketing because of the accumulative interest that has to be paid on these student loans. Many have no way of re-paying them. The economy is helped by people being educated, and if it becomes unaffordable, that is a bad idea. Many governments already have free education for children, so why not extend this education to tertiary level? Norway is number one in the world...

If you paid your way fully, you must be a very wealthy man. If you read students' stories, you will see that their debts are rocketing because of the accumulative interest that has to be paid on these student loans. Many have no way of re-paying them. The economy is helped by people being educated, and if it becomes unaffordable, that is a bad idea. Many governments already have free education for children, so why not extend this education to tertiary level? Norway is number one in the world for human development, and one of the indicators of a developed country is the education level of its citizens. In Norway, education is free- even for international students.

Aaron Coffey
Aaron Coffey
  • Christopher Mark Leger

Monique Buckner Then the l-o-g-i-c-a-l argument would be that if the rest of the world wanted to do as well, they'd follow by example. Right?
The only argument one can make to this effect is that these other countries must not really want to do so, or they're paranoid that forgiving student loans is just going to send them even further into debt!

John Zubalik
John Zubalik
  • Christopher Mark Leger

Monique Buckner Sounds good. Go to Norway.....end of discussion!

Aeleque Sangraeia
Aeleque Sangraeia
  • Christopher Mark Leger

Monique Buckner monique, most college students are getting degrees they should not be going for, not to mention most of them get out of college and instead of tightening their belts go out and live a life thats beyond their means and make MINIMUM payments on loans.

C Ken Davis Sr
C Ken Davis Sr
  • Christopher Mark Leger

then if you are in norway THE TAXPAYERS ALREADY PAY FOR YOUR SCHOOLING...HOPE YOU APPReciate it. If you are in The us..do what I did, work at what you can get until you get on with your major. I see no reason to pay your bill.

Leigh Hardaway
Leigh Hardaway

To all College Students with Student Loans! Sign this Petition!

Daniel Scott
Daniel Scott
  • Leigh Hardaway

Ungku Shakirah There is a possibility that interest rates will double July 1st. This would be devastating to people with student loans that can't get a job in the field they studied 4+ years to get into. Time to wake up.

Angela Johnson
Angela Johnson
  • Leigh Hardaway

Daniel Scott agreed.

Aeleque Sangraeia
Aeleque Sangraeia
  • Leigh Hardaway

daniel maybe the answer is too think before one goes to college. " i think i'd like to do that for a living" isn't a valid argument for getting a degree.

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Leigh Hardaway

The loans you already have will not be affected by the rate increase. And, the low-rate loans were the cheese to trap you into a debt. It is better to pay as you go, slow as it might seem, if the prospects of employment that will cover the debt are not outstanding.

C Ken Davis Sr
C Ken Davis Sr
  • Leigh Hardaway

Daniel Scott then complain to the coLLEGE. why should I paY YOUR DEBt? Grow up. your debt, you get a job somewhere...you pay it. stop trying to live off others.

Heather Avritt
Heather Avritt
  • Leigh Hardaway

C Ken Davis Sr You know some people take their education seriously and want to better their families and their community by getting a degree. I used financial aid and student loans to become a nurse and worked my butt off! Now I am going back for my B.A. in Pysch to broaden my career choices. In other words, it will help me to help others.

Frank Heilmann
Frank Heilmann

Sure wish this existed for my generation. All told I had to pay back well over $10,000 for a $2,000 loan. Does this make sense to you?

Frank Heilmann
Frank Heilmann
  • Frank Heilmann

must be nice Katrina, unfortunately we do, then to add insult to injury about every other year our loans are 'sold' to a new collection agency for 25% of balance owed, which again is added to our tab totally sucks

Monique Buckner
Monique Buckner
  • Frank Heilmann

Frank Heilmann, if only you had studied in Norway- it's free, even to international students.

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Frank Heilmann

Frank Heilmann if you lived frugally after graduation and paid the loans off quickly this would not have happened.

Frank Heilmann
Frank Heilmann
  • Frank Heilmann

Monique Buckner well why didn't you tell me that 42 years ago -smile. would have saved me a lot of grief

Frank Heilmann
Frank Heilmann
  • Frank Heilmann

Linda Luckstead Benskin actually i did that very thing. guess i was naive, my loan came from m grandfather. i thought it was him. the bank that actually held the note didn't ever contact me for 10 YEARS! [gramp died 1 year after the loan, was his bank and out of sympathy to grandma and me decided to delay] soon after it was sold, compounded interest etc.

Aeleque Sangraeia
Aeleque Sangraeia
  • Frank Heilmann

katrina, no you just pay twice as much taxes

Debbie Anton
Debbie Anton

I cannot back this petition for a number of reason. The people that are not able/willing to pay back their student loan obligations were brought up during a time that they got everything they wanted....cell phones, ipods, cars, trips, designer duds, and now they want college for free. No one made them take out a student loan. A loan is an obligation. The Obama administration is giving away free housing, healthcare, meds, cell phones , cash for cars, contraceptives...at this rate, we will be...

I cannot back this petition for a number of reason. The people that are not able/willing to pay back their student loan obligations were brought up during a time that they got everything they wanted....cell phones, ipods, cars, trips, designer duds, and now they want college for free. No one made them take out a student loan. A loan is an obligation. The Obama administration is giving away free housing, healthcare, meds, cell phones , cash for cars, contraceptives...at this rate, we will be a bankrupt country. Mortgagers do not want to pay their mortgages and now they don't want to pay back theirs/their kids student loans. When I graduated from college, my student loans got me off my ass and forced me to get a job and start making payments. How are college graduates EVER going to learn responsibility and hard work if they get EVERYTHING for free? Kids don't have to go to colleges that cost $100,000 in loans. They can go to state schools for community colleges, but they think they are ENTITLED to the best of everything. And their parents have ingrained this in their little brains their entire lives.....Just my two cents....You play, you pay. You ask for a loan, you do the ethical thing and pay it back...If you don't, someone will end up paying for it....probably the taxpayers, even the taxpayers that never even went to college or do not have kids that went to college. When do these entitlements end?

Debbie Anton
Debbie Anton
  • Debbie Anton

I don't get it either. At what point did everyone in the US expect everything for free??? It is mind boggling... and scary...Those of us that do the right thing and work to pay for our obligations/bad decisions will end up paying for everyone else...

Brandi Anton
Brandi Anton
  • Debbie Anton

Can I get an AMEN!!! Debbie...how do you know my cousin Danny Schalck? Danny...how do you know my cousin-in-law Debbie!? :) Small world...

Debbie Anton
Debbie Anton
  • Debbie Anton

Brandi Anton , Danny and I have known each other since I was about five years old....I knew he was your cousin...didn't we have this conversation ever???

Cathy Neumann
Cathy Neumann
  • Debbie Anton

Did you also know that the balance due on most government backed student loans are forgiven after 20 years?

Debbie Anton
Debbie Anton
  • Debbie Anton

That's because you don't get 20 years to pay it off..if it does take 20 years, you are either a lifer college student or a deadbeat..i my humble opinion

Mark Tisland
Mark Tisland

Yeah, this is the thing: We have an inflation thing, which is really a misguided conceptual blackmailing of the mind; a year's wages to learn a year's worth of "education"... Really? Who comes up with these ridiculous numbers?
When eyes open to see that "money" itself is non-existent, maybe an awakening will follow. Of course, this is not the course our country will travel.
All that aside, these costs are absolutely ridiculous to the point of stupidity. I also encourage all students to...

Yeah, this is the thing: We have an inflation thing, which is really a misguided conceptual blackmailing of the mind; a year's wages to learn a year's worth of "education"... Really? Who comes up with these ridiculous numbers?
When eyes open to see that "money" itself is non-existent, maybe an awakening will follow. Of course, this is not the course our country will travel.
All that aside, these costs are absolutely ridiculous to the point of stupidity. I also encourage all students to sign the petition, if for no other reason than to use what is left of our voice in the corrosive infrastructure that once used to be "We the People".

Gary Cogswell
Gary Cogswell
  • Mark Tisland

And the students that work and go to school and pay for there education should get a free car.

Sam Doognivol
Sam Doognivol
  • Mark Tisland

Gary Cogswell Right.. where is the incentive if you have to pay out 40 grand for your owneducation? I should at least get a discount on my mortgage, gas, a car since I'm paying an arm and a leg to become smart enough to make enough money to back the money for the education I was getting to make more money to pay off the bills I owed because I wasn't making enough money in the job I was working because I didn't have a good enough education (follow the logic, its makes sense..lol)

Mark Tisland
Mark Tisland
  • Mark Tisland

That is the twist! Well put, Sam.

John Zubalik
John Zubalik
  • Mark Tisland

We The People pay our just debts, and don't look to government for a "Bailout"!!!

Gary Cogswell
Gary Cogswell
  • Mark Tisland

Thanks John, I have worked and paid my way through trade school and owe nothing. Unlike the gen x 40 ish wimps still trying to find there way , still in school sucking the tit.

Rusty Ford
Rusty Ford
  • Mark Tisland

Obviously you can not get a good job since you can not even write a complete sentence.

Aeleque Sangraeia
Aeleque Sangraeia
  • Mark Tisland

sam, change fields then.

Heather Avritt
Heather Avritt
  • Mark Tisland

Couldn't have said it better myself!

Andrés Rondón
Andrés Rondón

Lets sign everybody

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Andrés Rondón

Who will pay for this? I would love to not pay my student loans, but it is not fair to make others pay them for me.

Daniel Scott
Daniel Scott
  • Andrés Rondón

Linda Luckstead Benskin You have a 50/50 chance when you graduate to not be unemployed or underemployed when you graduate. The loans you have may have an interest rate double than what you signed. Don't sign and drop out now before it's too late!

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Andrés Rondón

Daniel Scott First, the raised rates only affect new loans, not the ones you already have (loans are contracts). You are in college and don't know this? Sad.

Secondly, I don't think whether or not I get a job after graduation is pure "chance" (luck). I am majoring in a field that is high need and learning all I can so that I can contribute to society when I graduate. Some of the income I make by doing so will go towards my loan obligations. Perhaps when you signed for your loans, you lied...

Daniel Scott First, the raised rates only affect new loans, not the ones you already have (loans are contracts). You are in college and don't know this? Sad.

Secondly, I don't think whether or not I get a job after graduation is pure "chance" (luck). I am majoring in a field that is high need and learning all I can so that I can contribute to society when I graduate. Some of the income I make by doing so will go towards my loan obligations. Perhaps when you signed for your loans, you lied and said you would pay them back when really you always intended to have your grandchildren take care of that for you, but I did not.

Daniel Scott
Daniel Scott
  • Andrés Rondón

Linda Luckstead Benskin I am halfway through my education to become a teacher (I'm lucky make $30k a year). What is sad is your assumptions. Do you know what they say when you assume something?
Some of the income will be going towards loan obligations? Yes, mine too. Enjoy your $600+ a month repayment for 10-20 years. I will not.

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Andrés Rondón

Daniel Scott If you make $30k a year, why are you taking out loans at all? My daughter is a fulltime student living on $12k a year. I am a fulltime student and my husband and we live on $25k a year. The loans you already have are at the rates you are fighting for. Clearly you already spent a lot of loan money if you are looking at $600/month in repayment obligations. Please don't take out new loans - it is highly likely that you will not be able to pay them off.

Daniel Scott
Daniel Scott
  • Andrés Rondón

Linda Luckstead Benskin Okay, to be more clear: The average teacher makes $30k. The average cost per year to attend school is $14k so they say. After scholarships and what not, there is a $9k hole. After 4 years minimum the average minimum, this leads to a debt of around $40k. At the new interest level they are trying to push for, the average repayment (at over 6% interest) will be around $600 a month. This isn't my scenario yet. I do not make 30k a year now as a student, but after...

Linda Luckstead Benskin Okay, to be more clear: The average teacher makes $30k. The average cost per year to attend school is $14k so they say. After scholarships and what not, there is a $9k hole. After 4 years minimum the average minimum, this leads to a debt of around $40k. At the new interest level they are trying to push for, the average repayment (at over 6% interest) will be around $600 a month. This isn't my scenario yet. I do not make 30k a year now as a student, but after (average) 40k in debt, I can consider myself lucky to make $30k.
Also, if you read above, it does not say anyone's loan will be forgiven, except public servants who pay for 5 years instead of 10. FYI, the TEACH grant is under funded and unavailable.
Will you be the next teacher, or are you chasing the all mighty dollar?
Finally, please quit assuming as per last message. It makes an ass outta one of us.. anyways.

Daniel Scott
Daniel Scott
  • Andrés Rondón

Linda Luckstead Benskin EDIT: Loan forgiveness after paying 10 years... How long should people pay for their 4 years of education? For life? We've reached a point where there are no jobs, increasing tuition, and now higher interest rates?

An educated workforce furthers a nation, not war.

When is enough enough?

Linda Luckstead Benskin
Linda Luckstead Benskin
  • Andrés Rondón

Daniel Scott I quit a six figure job to return to school to become a teacher. However, teachers in Texas make an average of $45,000, not $30,000 - that is a big difference. Starting pay is not the same as what you expect to make after 10 years. The big problem is that the government incentivized high tuition and fees by making student loans so easy to get. Schools raised tuition and built expensive infrastructure, rather than keeping college affordable. The Government also lied to young...

Daniel Scott I quit a six figure job to return to school to become a teacher. However, teachers in Texas make an average of $45,000, not $30,000 - that is a big difference. Starting pay is not the same as what you expect to make after 10 years. The big problem is that the government incentivized high tuition and fees by making student loans so easy to get. Schools raised tuition and built expensive infrastructure, rather than keeping college affordable. The Government also lied to young people, telling them that all the jobs of the future require a college education. Who will repair your car, install your AC or fight your fires? Not a college grad with a big debt to pay off.

Daniel Scott
Daniel Scott
  • Andrés Rondón

Linda Luckstead Benskin Wow, we actually agree :), on most parts anyway. The last three positions can easily be degree positions. AA in Automotive Tech, HVAC is at minimum a cretificate, and Firemen tend to have a minimum of an AA in Fire Science. Those are just to get your foot in the door. AAs can put you back $20k, and certificates 1 year (depends) can be $10k. That's if you do not work full time while going to school full time.

Joyce Whan
Joyce Whan

No way will I sign this. Why didn't these kids work their way through school like we used to?
And how many have degrees that are not suited to getting a job?

Lisa Franck
Lisa Franck
  • Joyce Whan

You two clearly have no idea what most people who went to college are dealing with. We're not going to college to avoid the draft! It's because a Bachelor's Degree is the equivalent of a high school diploma nowadays. I know people with Master's Degrees applying for jobs at Starbucks because their corporate jobs are outsourcing to India and China! These are hardworking people who wanted to be more educated so they could be better at what they do! You are clueless! Again, most people I know...

You two clearly have no idea what most people who went to college are dealing with. We're not going to college to avoid the draft! It's because a Bachelor's Degree is the equivalent of a high school diploma nowadays. I know people with Master's Degrees applying for jobs at Starbucks because their corporate jobs are outsourcing to India and China! These are hardworking people who wanted to be more educated so they could be better at what they do! You are clueless! Again, most people I know worked their way through college and that was not enough to pay for college. Maybe you were lucky and found a career that didn't require college, but unfortunately, to be a veterinarian, my friends had to go to school for 8 to 12 years past high school! And I would be lucky if my school loans were ONLY $25,000! I will never be able to own a house, or buy my own practice(thus contributing to the economy) with the monthly loan payments I have! By the way, even teachers that only make $30-50,000 per year have to go to school for 5-7 years past high school!

Valerie Jacovides
Valerie Jacovides
  • Joyce Whan

what are you talking about..times are very differant then when we went to school , I am thinking that you might think the goverment will save us...the government will tax us, then make it a government of "for the politicians...hard work no longer pays off ..the rich will inheirit..I say lets just all quit working and ..resentfully... let the government pay us.... NO AMERICAN DREAM....

Sam Doognivol
Sam Doognivol
  • Joyce Whan

Well like me, I am married with 3 children working full time and going to school at the same time. I have an ACS and BCS. I a senior computer tech for a major hospital and I still don't make enough to pay off my mortgage, my car, and this bill. I help more people on a daily basis than the government will ever make an attempt to. I would like for my children to be able to go to college themselves. Its amazing how many people are so closed minded and snooty.

Jacquiline Jaski Fraga
Jacquiline Jaski Fraga
  • Joyce Whan

Ungku Shakirah ,ITS NOT THE KIDS FAULT THEY ARE THAT WAY, WHOMEVER YOU WERE REFERRING TO, ITS THE PARENTS THAT RAISED THESE LAZY KIDS... say something possitive for a change.and speak for yourself and not many!~these kids deserve more credit than that, its not easy acomplishing what they have acomplished so far!~

Annie Armstrong
Annie Armstrong
  • Joyce Whan

As Valerie said, times have changed. Big time. There were more jobs during the Depression then there are now. what America are you living in? Ungku, Do you have any idea that the amount of time you spend in school also depends on what degree you are aiming for? my neurologist went to school for nearly 15 years to get her degree! Is that being LAZY or PROPER PREPARATION? Do you really want some one to study the human brain for only a couple years then cut your head open and perform surgery...

As Valerie said, times have changed. Big time. There were more jobs during the Depression then there are now. what America are you living in? Ungku, Do you have any idea that the amount of time you spend in school also depends on what degree you are aiming for? my neurologist went to school for nearly 15 years to get her degree! Is that being LAZY or PROPER PREPARATION? Do you really want some one to study the human brain for only a couple years then cut your head open and perform surgery with so little experience? I sure don't. what about the doctors who treat cancer? are you really gonna put the process of radiation therapy into the hands of a person who, again only went to school for a couple short years? Also, my sister is trying to become an RN and is working 3 different in home care jobs just to barely make tuition! How can you sit there and judge people you don't even know? What puts you above everyone struggling to better their lives and follow their dreams? You are very very niave!

Aaron Coffey
Aaron Coffey
  • Joyce Whan

Joyce, you overgeneralize. I did work through school to get my degree. And it took me eight SOLID years to get a bachelor's degree. And you also can't use the excuse of "non-qualifying" degrees to make people feel guilty. Why? The job market changes frequently. If this were not the case, we wouldn't have 40 year old students going back for more degrees to keep themselves competitive.

Aaron Coffey
Aaron Coffey
  • Joyce Whan

Stop being bitter. Go get a degree, if you think you can get one. And even if you do have one, you might need another one in the future.

Basia Wilder
Basia Wilder
  • Joyce Whan

I agree with Joyce Whan and Ungku Shakirah. Those people have common sense. To many lazy people in America expecting things for free.

Rene Maldonado
Rene Maldonado

Education is free in most civilized countries It is an investment societies make in the future of the country by making it more competitive than without an educated society. In return, 2 years of public service can be expected from graduates.

Daniel Scott
Daniel Scott
  • Rene Maldonado

Ann Larrow We are taxed at over 50%. Education or healthcare should be included in my taxes. Not wars, and bailouts. Many countries are going bankrupt because their economies are tied to ours.

Sam Doognivol
Sam Doognivol
  • Rene Maldonado

Daniel Scott That's what I'm talking about. I am sick of everyone trying to justify our bankrupt schemes of fixing our economy. We are putting the determined and educated in debt? Really. That's how you treat the hard working and gifted. Whats next, are we going to start charging senior citizens a life tax? The funny part is, our government is sick enough to do it.

Aaron Coffey
Aaron Coffey
  • Rene Maldonado

Daniel Scott now there's an interesting argument.

William Wellisch
William Wellisch
  • Rene Maldonado

Education is NOT free. People pay for the buildings, the personnel, etc. Perhaps the recipient gets a free ride but the costs are then transferred to others. Society as a whole benefits from police officers, fire fighters, military personnel, foster parents, but not from history majors, sociology majors, media personalities, corporate raiders or other such types.

Georgia Sevcik
Georgia Sevcik
  • Rene Maldonado

Daniel Scott - Amen to what you just said!! :-D

Daniel Scott
Daniel Scott
  • Rene Maldonado

William Wellisch History and Sociology majors become teachers, psychologists, etc.. and the cycle runs anew. I agree with the media personalities, corporate raiders, etc though. Theology and Philosophy on the other hand.

Angela Johnson
Angela Johnson
  • Rene Maldonado

Ann Larrow your right, we would have to pay with taxes. but I also think it would be worth it...money is just a green stamp on paper...they can print out some more...HELL, I'll buy the ink and paper!!...lol.....

J.a. Martin
J.a. Martin
  • Rene Maldonado

Daniel Scott -very well stated. In an advanced and civilized society (but r we really?)conserns should and would be for the total good, safety and advancement of that society-not toward devastation and destruction. Will we ever do the right thing???

Valinda Norton
Valinda Norton

This is our global competition being allowed to come to The States via 400 China Free Trade Zones. Wake Up Everyone, mostly those in college or with degrees.... China's Ant Tribe (will they take your job? think? via the each State Free Trade ZONES?) http://abcnews.go.com/WNT/video/meet-chinas-ant-tribe-12165938.

And they don't forgive loans with medical issue unless they choose you to be in a special category of person.

Christy Robin Golden
Christy Robin Golden
  • Valinda Norton

hell no, pay your bills, you wanted college , now pay the bill.

Valinda Norton
Valinda Norton
  • Valinda Norton

Christy, if you are a teacher they give free college forgiveness. Why do some get forgiveness? This school and college thing has been done all wrong in The States.

Valinda Norton
Valinda Norton
  • Valinda Norton

Where are the jobs?

Christy Robin Golden
Christy Robin Golden
  • Valinda Norton

no one should get forgiveness, its bs. who pays for it. you and me. did you get free college cause i damn sure didn't.

Christy Robin Golden
Christy Robin Golden
  • Valinda Norton

there are no jobs.

Christy Robin Golden
Christy Robin Golden
  • Valinda Norton

maybe it time to open a debtors prison for people who won't pay their bills.

Valinda Norton
Valinda Norton
  • Valinda Norton

And we are paying for some people to already get so called "free" college via grants. But there has been the push for 25 years that everyone in America needs college to globally compete. Most college people I know have worked and worked to do everything correctly. But what concerns me right now are those China's FTZ coming with all their illegal Chinese College Graduates.

Valinda Norton
Valinda Norton
  • Valinda Norton

Cannot write off in bankruptcy, either.... What a mess!

Christy Robin Golden
Christy Robin Golden
  • Valinda Norton

i think that all the loan interest should be brought to zero, like our savings. zero interest would make it feesible for them to pay back the original loan.

Valinda Norton
Valinda Norton
  • Valinda Norton

Then we have the "Dream Act"... we are to be better to others than our own people.

What is the dollar backed by? The Governmental per Corporation Nation Assets that each 305 million "We the People" own to the tune of 50m each. Wake Up!

How is the dollar going to be devalued? Via illegal immigration!

http://www.c-span.org/Live-Video/C-SPAN/

Topics being spoken on today are illegal immigration and student loans.... odd isn't it?

Sherry Stout
Sherry Stout

Most people with student loans want to pay them. They're not looking for a free ride. The problem is that inexperienced young people are being railroaded into private loans, thinking they won't be much different from the subsidized loans, especially when they come from Sallie Mae. Then when they get out of school they have an insane interest rate, constant collection calls from reps who lie outright to try to get money from them, and a fee schedule that guarantees they will NEVER pay off...

Most people with student loans want to pay them. They're not looking for a free ride. The problem is that inexperienced young people are being railroaded into private loans, thinking they won't be much different from the subsidized loans, especially when they come from Sallie Mae. Then when they get out of school they have an insane interest rate, constant collection calls from reps who lie outright to try to get money from them, and a fee schedule that guarantees they will NEVER pay off these loans. Some people have paid on time for years, only to discover that their principle balance is the same or even higher than it was when they started. And God help them if they make a payment late. This should NEVER have been allowed to happen and this system needs to be fixed.

Sherry Stout
Sherry Stout
  • Sherry Stout

With that said, I'm not sure all of these changes are necessary. Lowering the interest rates, capping monthly payment amounts, and forcing private loan companies (especially SALLIE MAE) to follow ETHICAL practices would get most people back on track. For those who are worried about taxpayers footing the bill, that shouldn't happen. Even if they do start forgiving the remaining balances, after 10 years of payments the original loans have been paid off 2 or 3 times over. People who haven't...

With that said, I'm not sure all of these changes are necessary. Lowering the interest rates, capping monthly payment amounts, and forcing private loan companies (especially SALLIE MAE) to follow ETHICAL practices would get most people back on track. For those who are worried about taxpayers footing the bill, that shouldn't happen. Even if they do start forgiving the remaining balances, after 10 years of payments the original loans have been paid off 2 or 3 times over. People who haven't been there may think these debtors are trying to get out of paying, but the fact is that they have been ROBBED for years by these companies, with nothing to show for it, and no hope for any improvement in the future.

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