Congress Proposes Relief for Student Loan Borrowers

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roger james of NY 2:11AM December 28, 2012

I quit school in 2010 after I lost a child Ive been paying back student loans ever since....I recently became pregnant again and due to being high risk I was put on bed rest....with only bathroom privalages....needless to say I cant work and I started to get behind on my loans but only a month or two I thought until I found out that Chase bank whom I have private student loans through had put my last payment towards only one loan and the defaulted on the second..Even though I gave them more than enough money to split between the loans to keep me from defaulting...I cant consoludate they wont work with me at all and there gonna go after my dad My co-signer...they want $15,000 asap and act like me and my dad should just have that lying around....my parents have 7 kids and my sisters kid they are supporting they cant afford to have chase bank go after them and I dont know what to do Im worried about the stress this is putting on the baby ....I have no clue what to do I was only like 600 dollars behind and my second loan is completely paid up but they refuse to put me back on a payment plan.....I fell like im suffocating the only thing keeping me going is this baby inside me.....they (Chase private student loan sharks jerks) want 15,000 now or there going to go after me and my dad for 20,000 and im still paying on 3 other federal student loans...and a seperate private one....I have no credit card debt though...and if I have to file for bankrupcy it will kill my husbands credit weve worked so hard to get better....I know that kinda of money is a drop in the hat for someone out there ...

http://begslist.org/begging-for-money/help-chase-bank-might-as-well-be-loan-sharks

Elizabeth of MI 5:03AM October 16, 2012

To respond to Melissa- If your concerned is making payments, cleaning your credit and avoid or stop wage garnishment or offseting your tax return, call the current company which has your loan and set up what's called a rehabilitation loan payment. It can stop all these above unfortunately you still owe that full amount.

FOR S.TOLI- If you are considered total disabled, you may have ALL loans discharged to due your disability. There is a program called, total and permanent disability. Its a fairly easy application you and your doctor fills out. If that's not the case, you mentioned one of your children is disabled, it follows the same guideline for the loan you took out for her. If Sallie Mae is giving you the run around, goto the United States Dept of Education website and download the apps.. I hope this helps you too, good luck.

Erin of CA 3:20PM August 16, 2012

After decades of slaving and paying taxes and our bills; we're now poor, unemployed, and sick while our politicians simply gave the bankers and insurance companies all the chips they lost in the Great Recession out of the next generation of taxpayer's pockets while ensuring we can't wash our student loans in bankruptcy. The bankers are living large after sinking the country while we twist in the wind and our politicians enabled this.

American of CA 8:32PM July 29, 2012

i need help in total dept owed 14000 now 36000 whho can help also in default

melissa of RI 7:06PM June 17, 2012

I am 63 years old and my husband left me 30,000 in debt, had to file bankruptcy in 2000. they said I could not include student loans taken out on behalf of my 2 children. From what I read the law did not change until 2005. So can I reopen this bankruptcy. One financial problem after another, open heart surgery, pacemaker, looking at another open heart surgery. I take 13 medications, if I pay the student loan I will not be able to take the medications (approx $200 in copays), die and they get nothing anyway. (my debt is $77,000 half of which is in interest). One child is getting her loans in her name discharged due to her brain injury, the other has three children and her hours were cut. They have now cut my payment down to $213.00. I can pay $100 and still keep the medications. I now have a Title IV administrative forebearance. That is when your loan payments are more than 20% of yur gross wages (they do not consider health insurance, medications, union dues you don't want anyway, car payment on an old car, credit card payment to keep said car going, just taxes). Right now they have put the payment at just the right spot so I can't get an administrative forebearance. Right now my only recourse is to let it go into default so it goes to HESC and bargain with them. They gave me a more than reasonable payment but unfortunately SallieMae sent them my loan in error and took it back so I am stuck with Sallie Mae and the people on their line who give you a different answer everytime you call. I am truly considering no surgery so I die and free my children. It is the only thing I can give them

S. Toli of NY 10:13AM June 10, 2012

I have about 70k in private student loans (I also have 189k in fed - I am a doctor). Repaying these and dealing with these lenders have been the worst experience of my life. I recently lost my job and making 400/wk on unemployment, my student loans repayment is 900/mnth and I had no choice but to defer my fed loans. I had to cut back on all my spending and move back in with my parents just so I can make my student loan payments. At 40-something with a good degree, I never thought I'd be in this situation. I can't find a job in my field which would offer me the finances to pay these loans. I can't get a lower wage job to pay these loans b/c then I would lose unemployment, which is paying me more than most lower wage jobs. Damned if I do, damned if I don't.

Fed-up of NY 3:07PM June 04, 2012

What about those people who already filed bankruptcy and couldn't include the loans? They need help too and shouldn't have to wait another 7 yrs!

Angel of WA 6:08PM May 08, 2012

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Student Loan Ranger

Equal Justice Works® is a national nonprofit organization working to provide public interest opportunities for law students and lawyers and to reduce the financial barriers preventing many from pursuing and remaining in public service careers. It advocates for legislation to reduce the educational debt burden for all students and professionals and provides detailed information on educational debt relief programs to prospective and current students, graduates, schools, and employers. The organization's E-book, Take Control of Your Future: A Guide to Managing Your Student Debt, offers information and guidance ranging from borrowing to repayment and relief programs such as Public Service Loan Forgiveness and Income-Based Repayment. Got a question? E-mail studentloanranger@usnews.com.

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