Getting Out of Student Loan Debt

student loans

I have graduated from nursing school 2yrs ago haven't been able to pass my state board's, I think I exceeded deferring my account they dont want to work with me in defferring my account want me to pay past due account , I am a minority thought I was doing good for going to school but now I feel punished I don't know what to do know

Elizabeth Martinez of CA @ Mar 21, 2008 21:05:15 PM

student loans

I have graduated with a master's degree and is sad to say, my career is no where how i thought it would be. I am currently in deferment and as a single parent I am worried that I can not pay and still support my family. My children are almost in high school and I have not begin to put away money for them. I really dont know what to do I really do not want to spend my life in poverty, just because I decided to seek a college education. If you have any advise please help.

Lou willis of MI @ Mar 02, 2008 14:30:40 PM

SALLIE MAE's ILLEGAL CONSOLIDATION OF MY PARENT LOANS

You MUST be joking! I am a parent who borrowed 2 parent loans (one for each child $2,500). Once my youngest of 2 graduated (w/2 degrees), I began researching the lowest and most reputible firm considering a consolidation but not sold on it. I reasearched 2 firms when SallieMae bombarded me with phamplets, letters and phone calls. I called SM back to see what SM had to offer me for a 7% loan, started out at $5,000 -- following graduation $8,000 and then all of the sudden it was $17,000. SallieMae averaged 2-6 phone calls a day regarding had I decided on a firm to consolidate my loans? I asked what SM offered and its response was we've a form you must sign and return to us. I received the form, a blank promissory note. I called SM and remarked I would not sign a "blank" note for anyone. SM responded we need this signed because w/o it we are unable to obtain all your school loan info, it gives "us SM" permission to request loan info and then, make you an offer with interest rate etc., but, if you don't sign this form, we cannot tell you what interest rate we can offer. I again remarked that I didn't believe this was legal -- that it did not have terms and I was not agreeing to anything w/o such terms. SM assured me this is "normal" procedure. Well, guess what, several weeks passed when I called SM to remark I had the offers in from the other two firms, what is the interest rate SM is offering -- much to my SHOCK, SM said -- oh, well we consolidated those 2 loans already -- WHAT, I said, I didn't agree to consolidate with SM. SM's rep laughed, well that's your problem because it's done!!@! I was shaking, I said wait a minute you cannot do that -- his remark was you signed a note -- I said it was blank, I was unaware of any terms let along interest rate at any time before this period -- I didn't elect to have SM consolidate -- I then asked what's the interest rate, his remark, laughing "9.25%"! At that point I began irrate and said, I am calling the attorney general for Texas, my loans were at 7%, I would never have agreed to 8% let alone 9.25%!!! this is a fraudulent transaction -- bogus on SM's part. The rep laughed, and said, "you were stupid enough to sign the blank form we sent. . . ." This corporation is making billions as is it's stock, this is a MONOPOLY, congress, what are the legal factions of our government going to do, and now!? There needs to be a senate committee investigation and have individuals like myself testify against SM, tell our story. To date, I have spoken with a professional lobbist who was shocked at my story alone, not to mention the host of others I have. . .check out www.studentloanjustice.com, believe me, there are millions of Americans that have been scammed, threatened and his/her lives ruined because of SM. WE NEED RELIEF NOW, reconsolidate the consolidated loans and for GOD sake, lower the interest rates!!! Our children attend college to better their lives not graduate to debt and poverty -- MR. PRESIDENT, TED KENNED AND HILLARY CLINTON, ARE YOU LISTENING!!!!! HAVE A SPECIAL ON DATELINE, SEEK INFO FROM ALL STATES, STORIES OF PARENTS AND STUDENTS ALIKE, SEEK THE TRUTH THEN TAKE THE TRUTH TO THE ENEMY, SALLIEMAE, enlist a congressional senate hearing on this very serious crises! Education in this country is for all people not a select few -- the wealthier groups. If this country keeps the direction we're going, no one will be able to afford an education -- students will go abroad -- universities will suffer and the possibility of universities/colleges suffering from lack of attendance may be thousands demise, think about it -- why execute parents and students for seeking an education!!!! This is supposed to be AMERICA not a dictatorship -- investigate SallieMae, I've been told it could be shocking to all!

I am a single parent (married 19 1/2 years to an ex-Army Officer (Viet Nam vet) who, after 19 1/2 years abandoned his responsibilities of an education for both our children. Consequently, my daughter, son and I worked together to make it happen. I in no way, as a single mother, intended on incurring enormous debt of me at 61 years old let alone my wonderful children. I am approaching retirement, I don't want my SS payments going to SallieMae and me living in poverty! I am educated and I never in my wildest dreams felt I'd have $44,000 in debt for $5,000 -- and, worse yet, no remedy under our country's laws -- that's what our country was founded upon "equality" under the law!!!!!

Sandi, single parent of 2, Dallas, TX of TX @ Jan 15, 2008 22:49:33 PM