Comments on: Obama Student Loan Forgiveness Program http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Fri, 25 May 2012 02:12:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Evelyn http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-96848 Evelyn Mon, 07 May 2012 16:16:00 +0000 http://getoutofdebt.org/?p=7231#comment-96848 I ha ve a student loan since 1984 and have not paid in full owe 14.000.00 I have had many defferments due to financial hardships and multiple layoff from work.  They are transferring the loan to a debt collector.  is there any hope for me? I ha
ve a student loan since 1984 and have not paid in full owe 14.000.00 I have had many defferments due to financial hardships and multiple layoff from work.  They are transferring the loan to a debt collector.  is there any hope for me?

]]> By: Tyler Dunson http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-95405 Tyler Dunson Sun, 01 Apr 2012 03:14:00 +0000 http://getoutofdebt.org/?p=7231#comment-95405 I am n the same boat as everyone here.. Sallie mae ruins lives. I started with 60 grand in loans and now up to 90 grand. I just cant afford to pay. I think everyone should just stop paying. If they have no money coming in, they would go under. I know there are a ton of petitions going around but i think there are other ways to get our message across. Email me for more information... eda905man@yahoo.com I am n the same boat as everyone here.. Sallie mae ruins lives. I started with 60 grand in loans and now up to 90 grand. I just cant afford to pay. I think everyone should just stop paying. If they have no money coming in, they would go under. I know there are a ton of petitions going around but i think there are other ways to get our message across. Email me for more information… eda905man@yahoo.com

]]> By: no credit check loans http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-94496 no credit check loans Tue, 06 Mar 2012 09:30:00 +0000 http://getoutofdebt.org/?p=7231#comment-94496 The Federal Government should be out of the way for the total control of The Student Loan Industry, the problem is in the high tuition that universities charge for credits, if the Feds really wants to help, that is the field to work, but NO, No, No that area is untouchable for the federal Government , majority of universities are centers for liberal indoctrination and our liberals friends from the White House and Senate and some Liberals Republicans don't want fix the problem, it is like in the medical field if they don't produce legislation limiting the medical malpractice demands, insurance are going to continue high and medical cost too, but the majority of our politician are lawyers and that is one of the reasons for ignoring one of the primary causes of the problem. The Federal Government should be out of the way for the total control of The Student Loan Industry, the problem is in the high tuition that universities charge for credits, if the Feds really wants to help, that is the field to work, but NO, No, No that area is untouchable for the federal Government , majority of universities are centers for liberal indoctrination and our liberals friends from the White House and Senate and some Liberals Republicans don’t want fix the problem, it is like in the medical field if they don’t produce legislation limiting the medical malpractice demands, insurance are going to continue high and medical cost too, but the majority of our politician are lawyers and that is one of the reasons for ignoring one of the primary causes of the problem.

]]> By: Al http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-94112 Al Wed, 22 Feb 2012 03:52:00 +0000 http://getoutofdebt.org/?p=7231#comment-94112 From what I just read a student loan could be discharged after 25 years now. It has been 30 years since zi got my loans. How to I apply for discharge? From what I just read a student loan could be discharged after 25 years now. It has been 30 years since zi got my loans. How to I apply for discharge?

]]> By: Derik103 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-94086 Derik103 Tue, 21 Feb 2012 15:47:00 +0000 http://getoutofdebt.org/?p=7231#comment-94086 Remember people there are only 545 people who run this country and make the laws vs. 300,000,000 people. The power to change things our in our court. WE OUR THE PEOPLE to change this system . I hear all about this student loan debt. Trust me I am up there with over $100 K in debt. It scares the living crap out of me. I am tired of seeing everyone of these big corporations getting bailed out and we our the ones getting screwed everyday. We do have a voice , we may not have the money but we do have a voice. We just need to use our voice and tell them what's up. Thing's will change and get better as long as we challenge the system and think on OUR OWN!!! Remember people there are only 545 people who run this country and make the laws vs. 300,000,000 people. The power to change things our in our court. WE OUR THE PEOPLE to change this system . I hear all about this student loan debt. Trust me I am up there with over $100 K in debt. It scares the living crap out of me. I am tired of seeing everyone of these big corporations getting bailed out and we our the ones getting screwed everyday. We do have a voice , we may not have the money but we do have a voice. We just need to use our voice and tell them what’s up. Thing’s will change and get better as long as we challenge the system and think on OUR OWN!!!

]]> By: Derik103 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-94085 Derik103 Tue, 21 Feb 2012 15:40:00 +0000 http://getoutofdebt.org/?p=7231#comment-94085 545 people vs 300,000,000 and we still let them do what they do!!!545 vs. 300,000,000 People-By Charlie ReesePoliticians are the only people in the world who create problems and then campaign against them.Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?You and I don't propose a federal budget. The President does.You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.You and I don't write the tax code, Congress does.You and I don't set fiscal policy, Congress does.You and I don't control monetary policy, the Federal Reserve Bank does.One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? John Boehner. He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.If the tax code is unfair, it's because they want it unfair.If the budget is in the red, it's because they want it in the red.If the Army & Marines are in Iraq and Afghanistan it's because they want them in Iraq and Afghanistan ...If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.There are no insoluble government problems.Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like "the economy," "inflation," or "politics" that prevent them from doing what they take an oath to do.Those 545 people, and they alone, are responsible.They, and they alone, have the power.They, and they alone, should be held accountable by the people who are their bosses.Provided the voters have the gumption to manage their own employees...We should vote all of them out of office and clean up their mess!Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.What you do with this article now that you have read it... is up to you.This might be funny if it weren't so true.Be sure to read all the way to the end:Tax his land,Tax his bed,Tax the table,At which he's fed.Tax his tractor,Tax his mule,Teach him taxesAre the rule.Tax his work,Tax his pay,He works forpeanuts anyway!Tax his cow,Tax his goat,Tax his pants,Tax his coat.Tax his ties,Tax his shirt,Tax his work,Tax his dirt.Tax his tobacco,Tax his drink,Tax him if heTries to think.Tax his cigars,Tax his beers,If he criesTax his tears.Tax his car,Tax his gas,Find other waysTo tax his ass.Tax all he hasThen let him knowThat you won't be doneTill he has no dough.When he screams and hollers;Then tax him some more,Tax him tillHe's good and sore.Then tax his coffin,Tax his grave,Tax the sod inWhich he's laid...Put these wordsUpon his tomb,'Taxes drove meto my doom...'When he's gone,Do not relax,Its time to applyThe inheritance tax.Accounts Receivable TaxBuilding Permit TaxCDL license TaxCigarette TaxCorporate Income TaxDog License TaxExcise TaxesFederal Income TaxFederal Unemployment Tax (FUTA)Fishing License TaxFood License TaxFuel Permit TaxGasoline Tax (currently 44.75 cents per gallon)Gross Receipts TaxHunting License TaxInheritance TaxInventory TaxIRS Interest Charges IRS Penalties (tax on top of tax)Liquor TaxLuxury TaxesMarriage License TaxMedicare TaxPersonal Property TaxProperty TaxReal Estate TaxService Charge TaxSocial Security TaxRoad Usage TaxRecreational Vehicle TaxSales TaxSchool TaxState Income TaxState Unemployment Tax (SUTA)Telephone Federal Excise TaxTelephone Federal Universal Service Fee TaxTelephone Federal, State and Local Surcharge TaxesTelephone Minimum Usage Surcharge TaxTelephone Recurring and Nonrecurring Charges TaxTelephone State and Local TaxTelephone Usage Charge TaxUtility TaxesVehicle License Registration TaxVehicle Sales TaxWatercraft Registration TaxWell Permit TaxWorkers Compensation TaxSTILL THINK THIS IS FUNNY?Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.What in the heck happened? Can you spell 'politicians?'I hope this goes around THE USA at least 545 times!!! YOU can help it get there!!!GO AHEAD. . . BE AN AMERICAN!!!Live your life in such a way that when your feet hit the floor in the morning, Satan shudders & says... “Oh no....she's awake!!!""What we do in life ECHOS in eternity" 545 people vs 300,000,000 and we still let them do what they do!!!545 vs. 300,000,000 People-By Charlie ReesePoliticians are the only people in the world who create problems and then campaign against them.Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?You and I don’t propose a federal budget. The President does.You and I don’t have the Constitutional authority to vote on appropriations. The House of Representatives does.You and I don’t write the tax code, Congress does.You and I don’t set fiscal policy, Congress does.You and I don’t control monetary policy, the Federal Reserve Bank does.One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don’t care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator’s responsibility to determine how he votes.Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? John Boehner. He is the leader of the majority party. He and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to.It seems inconceivable to me that a nation of 300 million cannot replace 545 people who stand convicted — by present facts — of incompetence and irresponsibility. I can’t think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.If the tax code is unfair, it’s because they want it unfair.If the budget is in the red, it’s because they want it in the red.If the Army & Marines are in Iraq and Afghanistan it’s because they want them in Iraq and Afghanistan …If they do not receive social security but are on an elite retirement plan not available to the people, it’s because they want it that way.There are no insoluble government problems.Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like “the economy,” “inflation,” or “politics” that prevent them from doing what they take an oath to do.Those 545 people, and they alone, are responsible.They, and they alone, have the power.They, and they alone, should be held accountable by the people who are their bosses.Provided the voters have the gumption to manage their own employees…We should vote all of them out of office and clean up their mess!Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.What you do with this article now that you have read it… is up to you.This might be funny if it weren’t so true.Be sure to read all the way to the end:Tax his land,Tax his bed,Tax the table,At which he’s fed.Tax his tractor,Tax his mule,Teach him taxesAre the rule.Tax his work,Tax his pay,He works forpeanuts anyway!Tax his cow,Tax his goat,Tax his pants,Tax his coat.Tax his ties,Tax his shirt,Tax his work,Tax his dirt.Tax his tobacco,Tax his drink,Tax him if heTries to think.Tax his cigars,Tax his beers,If he criesTax his tears.Tax his car,Tax his gas,Find other waysTo tax his ass.Tax all he hasThen let him knowThat you won’t be doneTill he has no dough.When he screams and hollers;Then tax him some more,Tax him tillHe’s good and sore.Then tax his coffin,Tax his grave,Tax the sod inWhich he’s laid…Put these wordsUpon his tomb,’Taxes drove meto my doom…’When he’s gone,Do not relax,Its time to applyThe inheritance tax.Accounts Receivable TaxBuilding Permit TaxCDL license TaxCigarette TaxCorporate Income TaxDog License TaxExcise TaxesFederal Income TaxFederal Unemployment Tax (FUTA)Fishing License TaxFood License TaxFuel Permit TaxGasoline Tax (currently 44.75 cents per gallon)Gross Receipts TaxHunting License TaxInheritance TaxInventory TaxIRS Interest Charges IRS Penalties (tax on top of tax)Liquor TaxLuxury TaxesMarriage License TaxMedicare TaxPersonal Property TaxProperty TaxReal Estate TaxService Charge TaxSocial Security TaxRoad Usage TaxRecreational Vehicle TaxSales TaxSchool TaxState Income TaxState Unemployment Tax (SUTA)Telephone Federal Excise TaxTelephone Federal Universal Service Fee TaxTelephone Federal, State and Local Surcharge TaxesTelephone Minimum Usage Surcharge TaxTelephone Recurring and Nonrecurring Charges TaxTelephone State and Local TaxTelephone Usage Charge TaxUtility TaxesVehicle License Registration TaxVehicle Sales TaxWatercraft Registration TaxWell Permit TaxWorkers Compensation TaxSTILL THINK THIS IS FUNNY?Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.What in the heck happened? Can you spell ‘politicians?’I hope this goes around THE USA at least 545 times!!! YOU can help it get there!!!GO AHEAD. . . BE AN AMERICAN!!!Live your life in such a way that when your feet hit the floor in the morning, Satan shudders & says… “Oh no….she’s awake!!!”"What we do in life ECHOS in eternity”

]]> By: Coquito32 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-94084 Coquito32 Tue, 21 Feb 2012 15:29:00 +0000 http://getoutofdebt.org/?p=7231#comment-94084 Reading all this coments is like watching a horror movie. I can belive this is a "first worl country" we have to do something enough is enough my husband and I we owed a total of 72k for my daugher students loans is there any hope for workingclass people? We have to ask ourselfs why the banks. And rich people declared bankrupcy and they come out clean???? It should be more oportunities for hard working people that they just want to give to the childrens a better life.. Reading all this coments is like watching a horror movie. I can belive this is a “first worl country” we have to do something enough is enough my husband and I we owed a total of 72k for my daugher students loans is there any hope for workingclass people? We have to ask ourselfs why the banks. And rich people declared bankrupcy and they come out clean???? It should be more oportunities for hard working people that they just want to give to the childrens a better life..

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93979 Steve Rhode Fri, 17 Feb 2012 23:10:00 +0000 http://getoutofdebt.org/?p=7231#comment-93979 If they are subsidized student loans then go to the Department of Education site and look at the Direct Loan consolidation program. You can consolidate them and then put them in an IBR for the lowest payment. If they are subsidized student loans then go to the Department of Education site and look at the Direct Loan consolidation program. You can consolidate them and then put them in an IBR for the lowest payment.

]]> By: BuckJohnson http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93978 BuckJohnson Fri, 17 Feb 2012 22:04:00 +0000 http://getoutofdebt.org/?p=7231#comment-93978 For the Private student loan which was bought from Sallie Mae and in ACS's hands, I don't mind the payment they are making me pay via the IBR that they have set up.  What concern me is the fact that the Sallie Mae govt. ones IBR for the amount of the loan and how much I make still is too high for a payment compared to my other bills.  Is there a way to lower that or for them to take into account other bills I may have? For the Private student loan which was bought from Sallie Mae and in ACS’s hands, I don’t mind the payment they are making me pay via the IBR that they have set up.  What concern me is the fact that the Sallie Mae govt. ones IBR for the amount of the loan and how much I make still is too high for a payment compared to my other bills.  Is there a way to lower that or for them to take into account other bills I may have?

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93957 Steve Rhode Fri, 17 Feb 2012 17:04:00 +0000 http://getoutofdebt.org/?p=7231#comment-93957 For private students loans there is no official IBR program. It's whatever the lender wants to do. I think you'll be interested in this private student loan petition. https://www.change.org/petitions/the-us-senate-pass-the-fairness-for-struggling-students-act-of-2011 For private students loans there is no official IBR program. It’s whatever the lender wants to do. I think you’ll be interested in this private student loan petition. https://www.change.org/petitions/the-us-senate-pass-the-fairness-for-struggling-students-act-of-2011

]]> By: BuckJohnson http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93926 BuckJohnson Fri, 17 Feb 2012 01:09:00 +0000 http://getoutofdebt.org/?p=7231#comment-93926 Hey Steve I have 109,000 dollars in student loans (got my masters) and I was able to get a job that pays 45,000 a year.  Most of the loans are with Sallie Mae except one, that one is with ACS for about 10,900.  I got a IBR plan for ACS and I pay 39 dollars a month.  I'm trying to get an IBR from Sallie Mae for the 98,000 dollars worth, and they are somewhat putting my payments over 300 dollars (like 350).  This was just me telling them on the phone how much I made and I was paying on another loan (they never asked for the amount of that loan).  I was wondering what type of internal calculation do they do besides the fact of the IBR calculator.  Do they take into account your expenses (rent, food,  and other bills), they say discretionary but how do they know what is discretionary without you telling them where so much of your money is going.  Also are they taking into account the amount of loan you have with said organization, because  with ACS they also knew of the loan amount of the Sallie Mae Loans and my payment was low but with Sallie Mae they are higher, I don't mind paying it but I need a payment that is lower than what they are telling me. Hey Steve I have 109,000 dollars in student loans (got my masters) and I was able to get a job that pays 45,000 a year.  Most of the loans are with Sallie Mae except one, that one is with ACS for about 10,900.  I got a IBR plan for ACS and I pay 39 dollars a month.  I’m trying to get an IBR from Sallie Mae for the 98,000 dollars worth, and they are somewhat putting my payments over 300 dollars (like 350).  This was just me telling them on the phone how much I made and I was paying on another loan (they never asked for the amount of that loan). 

I was wondering what type of internal calculation do they do besides the fact of the IBR calculator.  Do they take into account your expenses (rent, food,  and other bills), they say discretionary but how do they know what is discretionary without you telling them where so much of your money is going.  Also are they taking into account the amount of loan you have with said organization, because  with ACS they also knew of the loan amount of the Sallie Mae Loans and my payment was low but with Sallie Mae they are higher, I don’t mind paying it but I need a payment that is lower than what they are telling me.

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93881 Steve Rhode Wed, 15 Feb 2012 15:11:00 +0000 http://getoutofdebt.org/?p=7231#comment-93881 How long after you left did the school close? How long after you left did the school close?

]]> By: Baker Casey98 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93878 Baker Casey98 Wed, 15 Feb 2012 09:15:00 +0000 http://getoutofdebt.org/?p=7231#comment-93878 Dear steve, i am casey i got a student loan back when i was 18 or 19 to go to a school in fl, called decker collage. I feel i was done wronge because im haveing my taxes taken every year over this loan, the reason i feel this way is cause yes i did go to school, but i got injured the school them selves put me on a bus back home to texas, took all my grant money and never sent me my online package to finish school, then i got a letter sayn the school filed for bank rupt, i dont think its right i have to pay this loan i never got to even use,,, do u know anyone i can talk to to get this delt with cause everytime i call ed fund people they dont care and just give me the run around and wont help. Me or tell me how to fight it Dear steve, i am casey i got a student loan back when i was 18 or 19 to go to a school in fl, called decker collage. I feel i was done wronge because im haveing my taxes taken every year over this loan, the reason i feel this way is cause yes i did go to school, but i got injured the school them selves put me on a bus back home to texas, took all my grant money and never sent me my online package to finish school, then i got a letter sayn the school filed for bank rupt, i dont think its right i have to pay this loan i never got to even use,,, do u know anyone i can talk to to get this delt with cause everytime i call ed fund people they dont care and just give me the run around and wont help. Me or tell me how to fight it

]]> By: Anthony Dedam http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93577 Anthony Dedam Sun, 05 Feb 2012 15:25:00 +0000 http://getoutofdebt.org/?p=7231#comment-93577 Anthony I guess I went to college too late (age 38) and in 1986 I graduated and still have an outstanding balance of about $15,000.00 on my student loans.  I tried to lower my interest rate (8%) to a much lower rate but I was told that I signed a Promissory Note and the 8% is locked in until the entire loan is paid off. Unfortunately, I didn't get the kind of a job that paid a good salary and I fell behind on my payments.  I eventually consolided them and am paid up to 2013, however, I'm retired and only receive my social security benefits.  After paying rent, medical expenses and other monthly essentials, I'm left with very little funds to survive.  I hope that Obama's Program will forgive my 26 yr loan. Anthony

I guess I went to college too late (age 38) and in 1986 I graduated and still have an outstanding balance of about $15,000.00 on my student loans.  I tried to lower my interest rate (8%) to a much lower rate but I was told that I signed a Promissory Note and the 8% is locked in until the entire loan is paid off. Unfortunately, I didn’t get the kind of a job that paid a good salary and I fell behind on my payments.  I eventually consolided them and am paid up to 2013, however, I’m retired and only receive my social security benefits.  After paying rent, medical expenses and other monthly essentials, I’m left with very little funds to survive.  I hope that Obama’s Program will forgive my 26 yr loan.

]]> By: Anthony Dedam http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93578 Anthony Dedam Sun, 05 Feb 2012 15:25:00 +0000 http://getoutofdebt.org/?p=7231#comment-93578 Anthony I guess I went to college too late (age 38) and in 1986 I graduated and still have an outstanding balance of about $15,000.00 on my student loans.  I tried to lower my interest rate (8%) to a much lower rate but I was told that I signed a Promissory Note and the 8% is locked in until the entire loan is paid off. Unfortunately, I didn't get the kind of a job that paid a good salary and I fell behind on my payments.  I eventually consolided them and am paid up to 2013, however, I'm retired and only receive my social security benefits.  After paying rent, medical expenses and other monthly essentials, I'm left with very little funds to survive.  I hope that Obama's Program will forgive my 26 yr loan. Anthony

I guess I went to college too late (age 38) and in 1986 I graduated and still have an outstanding balance of about $15,000.00 on my student loans.  I tried to lower my interest rate (8%) to a much lower rate but I was told that I signed a Promissory Note and the 8% is locked in until the entire loan is paid off. Unfortunately, I didn’t get the kind of a job that paid a good salary and I fell behind on my payments.  I eventually consolided them and am paid up to 2013, however, I’m retired and only receive my social security benefits.  After paying rent, medical expenses and other monthly essentials, I’m left with very little funds to survive.  I hope that Obama’s Program will forgive my 26 yr loan.

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93410 Steve Rhode Tue, 31 Jan 2012 22:34:00 +0000 http://getoutofdebt.org/?p=7231#comment-93410 As a private pilot I wish I had a wand to wave to make the private loans be manageable. Unfortunately, unless you servicer offers some program or you find another lender to consolidate your loans, I have not found any other solution. I'm not sure if "all" do. But even government loans for graduate school no longer allow for a deferment. As a private pilot I wish I had a wand to wave to make the private loans be manageable. Unfortunately, unless you servicer offers some program or you find another lender to consolidate your loans, I have not found any other solution.

I’m not sure if “all” do. But even government loans for graduate school no longer allow for a deferment.

]]> By: Es7129 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93390 Es7129 Tue, 31 Jan 2012 05:41:00 +0000 http://getoutofdebt.org/?p=7231#comment-93390 Hi Steve, Unfortunately I believe I'm SOL, but please correct me if I'm wrong. I have about $65,000 in private student loans and I'm drowning in it. These loans were taken out for my aeronautical degree back in '07 in my quest to become an Air Traffic Control Specialist with the FAA. As expected I passed everything and was on my way with the FAA when I was involved in an motor vehicle accident and lost my medical clearance as a result of the injuries sustained to my head and vision. I was terminated in 2010 from the FAA and have been unemployed since. I've exhausted all def. and forbearance options according to my private lenders, even though I've recently started an MBA program full time.  Do you know if all private loan lenders cap your in-school deferment options at 5 years from disbursement date? Thanks, E Hi Steve,
Unfortunately I believe I’m SOL, but please correct me if I’m wrong. I have about $65,000 in private student loans and I’m drowning in it. These loans were taken out for my aeronautical degree back in ’07 in my quest to become an Air Traffic Control Specialist with the FAA. As expected I passed everything and was on my way with the FAA when I was involved in an motor vehicle accident and lost my medical clearance as a result of the injuries sustained to my head and vision. I was terminated in 2010 from the FAA and have been unemployed since. I’ve exhausted all def. and forbearance options according to my private lenders, even though I’ve recently started an MBA program full time.  Do you know if all private loan lenders cap your in-school deferment options at 5 years from disbursement date?
Thanks,
E

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93319 Steve Rhode Fri, 27 Jan 2012 22:52:00 +0000 http://getoutofdebt.org/?p=7231#comment-93319 Do you have private student loans or government backed loans? Do you have private student loans or government backed loans?

]]> By: PharmD 2 Be http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93317 PharmD 2 Be Fri, 27 Jan 2012 22:25:00 +0000 http://getoutofdebt.org/?p=7231#comment-93317 I very interested in the Obama student loan program. I will be graduating in June. When I graduate my total student loan debt will be $220,000. Once I start work I will make a healthy salary. But, the student loan payment as is will still be very difficult for me. Will the Obama loan program help people who make over $100K a year? I very interested in the Obama student loan program. I will be graduating in June. When I graduate my total student loan debt will be $220,000. Once I start work I will make a healthy salary. But, the student loan payment as is will still be very difficult for me. Will the Obama loan program help people who make over $100K a year?

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93261 Steve Rhode Thu, 26 Jan 2012 20:00:00 +0000 http://getoutofdebt.org/?p=7231#comment-93261 Are these government backed loans or private stunt loans? Are these government backed loans or private stunt loans?

]]> By: Toddmdawson http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93257 Toddmdawson Thu, 26 Jan 2012 18:22:00 +0000 http://getoutofdebt.org/?p=7231#comment-93257 Steve, My checks are garnished all year, my income tax is 100% garnished every year. i was placed in jail facing life in prison for a crime I did not commit and without ever standing before a judge I was released a month later on dropped charges. during that month I lost everything I own except my job. I now live under a bridge and my checks are still being garnished. i feel hopeless and will probably give up completely in the very near future. I cant afford anything anymore. I am going out of my mind. what advice do you have to make me feel I should stay alive? Steve, My checks are garnished all year, my income tax is 100% garnished every year. i was placed in jail facing life in prison for a crime I did not commit and without ever standing before a judge I was released a month later on dropped charges. during that month I lost everything I own except my job. I now live under a bridge and my checks are still being garnished. i feel hopeless and will probably give up completely in the very near future. I cant afford anything anymore. I am going out of my mind. what advice do you have to make me feel I should stay alive?

]]> By: Melanie http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93183 Melanie Wed, 25 Jan 2012 15:13:00 +0000 http://getoutofdebt.org/?p=7231#comment-93183 The Pres spent a considerable amount of time touting the merits of higher education and encouraging Americans to go out and get student loans so they can get all the "high-paying jobs". However, he did not even mention the millions of Americans who got themselves into DEBT with student loans and now have no way of paying them back because the "high-paying jobs" simply do not exist. Schools love pushing those student loans, but what they do NOT tell you is that once you sign those papers, you are in debt to the US Government for the REST OF YOUR LIFE, and if you find yourself unemployed, or for some other reason you can't pay them back, TOO BAD! Those debts CANNOT be discharged through bankruptcy. Sure, you can get a forbearance, but the interest continues to accrue, so when your forbearance period ends, you wind up owing EVEN MORE. How do I know all this? Because I am one of the millions of Americans in STUDENT LOAN HELL right now, and I have no idea how I am ever going to get out. I started out with around $15,000 in student loan debt when I graduated with my Bachelor's degree in Business in 2000. I tried consolidation. My monthly payments ended up being more than my mortgage! I became unemployed in 2005, and was not able to find a permanent job. I worked temporary jobs for 3 years making between $10 and $14 per hour. I tried the income-sensitive repayment plan, but it really doesn't help when you have little or NO INCOME. I finally got a permanent job in November, 2009 making $14 per hour, only to be laid off 8 months later in July, 2010. I haven't been able to find ANY work since then, not even temporary. My unemployment benefits were exhausted last May.  In the meantime, my husband retired from the Navy in 2008, after 22 years of service to our country. The only job he was able to get at the time paid $10 per hour. He was lucky to find work at all. He did get a couple of raises since then and now he makes a whopping $12 per hour. We filed Chapter 13 bankruptcy in 2009 only to find out that my student loan debt was EXEMPT from bankruptcy protection. We were offered a forbearance, but were told that the interest would continue to accrue, and accrue it has. Now, that $15,000 of loan debt has snowballed into close to $70,000 of debt and growing by the day. We just filed a motion to convert our Chapter 13 to a Chapter 7. We are surrendering our house to the bank because we have been turned down TWICE for a loan modification, despite never being late on a payment. Our home value dropped $39,000 in ONE YEAR. We lost every bit of our equity and then some. There is no way we could sell it for even close to what we owe, and the bank will not approve a short sale. I got a little off the subject there, but that is where we are. I am so frustrated right now. When the smoke clears, we will be left with no home and no assets. Of course, we will be virtually debt-free, EXCEPT for student loan debt, which apparently will continue to haunt me FOREVER. The Pres spent a considerable amount of time touting the merits of higher education and encouraging Americans to go out and get student loans so they can get all the “high-paying jobs”. However, he did not even mention the millions of Americans who got themselves into DEBT with student loans and now have no way of paying them back because the “high-paying jobs” simply do not exist. Schools love pushing those student loans, but what they do NOT tell you is that once you sign those papers, you are in debt to the US Government for the REST OF YOUR LIFE, and if you find yourself unemployed, or for some other reason you can’t pay them back, TOO BAD! Those debts CANNOT be discharged through bankruptcy. Sure, you can get a forbearance, but the interest continues to accrue, so when your forbearance period ends, you wind up owing EVEN MORE. How do I know all this? Because I am one of the millions of Americans in STUDENT LOAN HELL right now, and I have no idea how I am ever going to get out. I started out with around $15,000 in student loan debt when I graduated with my Bachelor’s degree in Business in 2000. I tried consolidation. My monthly payments ended up being more than my mortgage! I became unemployed in 2005, and was not able to find a permanent job. I worked temporary jobs for 3 years making between $10 and $14 per hour. I tried the income-sensitive repayment plan, but it really doesn’t help when you have little or NO INCOME. I finally got a permanent job in November, 2009 making $14 per hour, only to be laid off 8 months later in July, 2010. I haven’t been able to find ANY work since then, not even temporary. My unemployment benefits were exhausted last May.  In the meantime, my husband retired from the Navy in 2008, after 22 years of service to our country. The only job he was able to get at the time paid $10 per hour. He was lucky to find work at all. He did get a couple of raises since then and now he makes a whopping $12 per hour. We filed Chapter 13 bankruptcy in 2009 only to find out that my student loan debt was EXEMPT from bankruptcy protection. We were offered a forbearance, but were told that the interest would continue to accrue, and accrue it has. Now, that $15,000 of loan debt has snowballed into close to $70,000 of debt and growing by the day. We just filed a motion to convert our Chapter 13 to a Chapter 7. We are surrendering our house to the bank because we have been turned down TWICE for a loan modification, despite never being late on a payment. Our home value dropped $39,000 in ONE YEAR. We lost every bit of our equity and then some. There is no way we could sell it for even close to what we owe, and the bank will not approve a short sale. I got a little off the subject there, but that is where we are. I am so frustrated right now. When the smoke clears, we will be left with no home and no assets. Of course, we will be virtually debt-free, EXCEPT for student loan debt, which apparently will continue to haunt me FOREVER.

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93145 Steve Rhode Tue, 24 Jan 2012 17:39:00 +0000 http://getoutofdebt.org/?p=7231#comment-93145 This might help: Recipients of a National Defense Student Loan may receive partial cancellation of their loan for their service in the United States Armed Forces if the loan was disbursed after April 13, 1970 and full-time active service began after June 30, 1970. Recipients of a National Direct Student Loan and Perkins Loan may receive partial cancellation of their loan for their service in the United States Armed Forces if his/her military service was for a full year in a hostile fire/imminent danger pay area. If you believe that you may qualify for cancellation of your loan(s) due to your military service as described above, you should send a copy of your DD214 (discharge form) and letter of explanation to the agency servicing your loan. This might help:

Recipients of a National Defense Student Loan may receive partial cancellation of their loan for their service in the United States Armed Forces if the loan was disbursed after April 13, 1970 and full-time active service began after June 30, 1970.

Recipients of a National Direct Student Loan and Perkins Loan may receive partial cancellation of their loan for their service in the United States Armed Forces if his/her military service was for a full year in a hostile fire/imminent danger pay area.

If you believe that you may qualify for cancellation of your loan(s) due to your military service as described above, you should send a copy of your DD214 (discharge form) and letter of explanation to the agency servicing your loan.

]]> By: Raechelnmurphy http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93129 Raechelnmurphy Tue, 24 Jan 2012 04:52:00 +0000 http://getoutofdebt.org/?p=7231#comment-93129 They dont always pay off student loan debt. We are a military family and we have been told by a lot of people that their recruiters told them all their student loan debt would be paid off, but it was all a scam to get them in.  They dont always pay off student loan debt. We are a military family and we have been told by a lot of people that their recruiters told them all their student loan debt would be paid off, but it was all a scam to get them in. 

]]> By: Newoportforever http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93060 Newoportforever Sun, 22 Jan 2012 00:29:00 +0000 http://getoutofdebt.org/?p=7231#comment-93060 CWYNN95, My loan, started at 5K, now totaling 20K with penalties and interest, is in default and I think they have a default judgment against me.  I'm filing for BK, can I do this forbearance for hardship each year too?  And if not can I do the $50 per month thing?  Where is more information found on this subject?  You have given me some hope, I think.  Thank you for that. CWYNN95, My loan, started at 5K, now totaling 20K with penalties and interest, is in default and I think they have a default judgment against me.  I’m filing for BK, can I do this forbearance for hardship each year too?  And if not can I do the $50 per month thing?  Where is more information found on this subject?  You have given me some hope, I think.  Thank you for that.

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93053 Steve Rhode Sat, 21 Jan 2012 18:59:00 +0000 http://getoutofdebt.org/?p=7231#comment-93053 Who do you feel misled you? Who do you feel misled you?

]]> By: Theotherkathymartens http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-93042 Theotherkathymartens Sat, 21 Jan 2012 06:06:00 +0000 http://getoutofdebt.org/?p=7231#comment-93042 Steve, We were led to believe when we took out a Parent Plus loan for our daughter's college tuition, that once she finished school, she would be able to consolidate the parent loans with her regular student loans and take over the debt. We now find that this was total hogwash and are looking at monthly payments of nearly $700 at 8%! Even under the income sensitive repayment plan, the payment is $400/mo. (that's not including her regular stafford loan pmt) which much more than she can afford. We aren't looking for the debt to be forgiven, just a reasonable repayment plan at an interest rate more in keeping with student loans! My husband's Sallie Mae loans are at 5%. Are there any other options out there? Is there any recourse for the misleading lending practices? Steve,
We were led to believe when we took out a Parent Plus loan for our daughter’s college tuition, that once she finished school, she would be able to consolidate the parent loans with her regular student loans and take over the debt. We now find that this was total hogwash and are looking at monthly payments of nearly $700 at 8%! Even under the income sensitive repayment plan, the payment is $400/mo. (that’s not including her regular stafford loan pmt) which much more than she can afford.

We aren’t looking for the debt to be forgiven, just a reasonable repayment plan at an interest rate more in keeping with student loans! My husband’s Sallie Mae loans are at 5%. Are there any other options out there? Is there any recourse for the misleading lending practices?

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92904 Steve Rhode Tue, 17 Jan 2012 16:27:00 +0000 http://getoutofdebt.org/?p=7231#comment-92904 If you have federal student loans the next logical path is to examine consolidating all of them for a lower payment. Over time you will pay more in total but it will help to make ends meet when the payments begin. Depending on your occupations, you may be eligible for student loan forgiveness. What are you going to school for? If you have federal student loans the next logical path is to examine consolidating all of them for a lower payment. Over time you will pay more in total but it will help to make ends meet when the payments begin.

Depending on your occupations, you may be eligible for student loan forgiveness. What are you going to school for?

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92905 Steve Rhode Tue, 17 Jan 2012 16:27:00 +0000 http://getoutofdebt.org/?p=7231#comment-92905 If you have federal student loans the next logical path is to examine consolidating all of them for a lower payment. Over time you will pay more in total but it will help to make ends meet when the payments begin. Depending on your occupations, you may be eligible for student loan forgiveness. What are you going to school for? If you have federal student loans the next logical path is to examine consolidating all of them for a lower payment. Over time you will pay more in total but it will help to make ends meet when the payments begin.

Depending on your occupations, you may be eligible for student loan forgiveness. What are you going to school for?

]]> By: Sandiegophd http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92892 Sandiegophd Mon, 16 Jan 2012 23:54:00 +0000 http://getoutofdebt.org/?p=7231#comment-92892 I tried the IRB calculator and it tells me that, based on my and my husbands combined income, I don't qualify for the program. Is there a "cap" on how much my payment wil be in this situation? I'm not sure what to do because after grad school our student debt is in the low six-figures. I tried the IRB calculator and it tells me that, based on my and my husbands combined income, I don’t qualify for the program. Is there a “cap” on how much my payment wil be in this situation? I’m not sure what to do because after grad school our student debt is in the low six-figures.

]]> By: Anonymous http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92682 Anonymous Wed, 11 Jan 2012 18:03:00 +0000 http://getoutofdebt.org/?p=7231#comment-92682 You made a choice and now you must pay for it. Your debt is not a "punishment" at all, it is the consequence of a choice that you agreed to. No one prevented you from leaving the program to pursue a different career. No one prevented you from transferring to a different Master's program. You are not the only person in this country "trying to make a difference" and getting into a more expensive college or program does not mean you deserve special treatment.  You made a choice and now you must pay for it. Your debt is not a “punishment” at all, it is the consequence of a choice that you agreed to. No one prevented you from leaving the program to pursue a different career. No one prevented you from transferring to a different Master’s program. You are not the only person in this country “trying to make a difference” and getting into a more expensive college or program does not mean you deserve special treatment. 

]]> By: anonymous http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92681 anonymous Wed, 11 Jan 2012 17:34:00 +0000 http://getoutofdebt.org/?p=7231#comment-92681 People don't have control whether they get sick or not (usually). However, they DO have control regarding which college they choose to go to. Those who chose to attend an expensive school must pay for it. There are many trade schools, public universities, and community colleges that are cheaper.  People don’t have control whether they get sick or not (usually). However, they DO have control regarding which college they choose to go to. Those who chose to attend an expensive school must pay for it. There are many trade schools, public universities, and community colleges that are cheaper. 

]]> By: Anonymous http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92677 Anonymous Wed, 11 Jan 2012 17:12:00 +0000 http://getoutofdebt.org/?p=7231#comment-92677 You could have just as easily gone to a community college or cheap local state school. Many intelligent high school students refuse to go to prestigious universities because they know the experience is not worth the cost in the long run. You made the decision to go to an expensive school so you must bear the cost. Why should responsible students who made the intelligent decision to save money be forced to pay for your education? Do you think you are "special" and deserve the world to be handed to you on a platter? The people who complain the most about the cost of college will be the first to affirm their schools are "better." These students get what they deserve. You could have just as easily gone to a community college or cheap local state school. Many intelligent high school students refuse to go to prestigious universities because they know the experience is not worth the cost in the long run. You made the decision to go to an expensive school so you must bear the cost. Why should responsible students who made the intelligent decision to save money be forced to pay for your education? Do you think you are “special” and deserve the world to be handed to you on a platter? The people who complain the most about the cost of college will be the first to affirm their schools are “better.” These students get what they deserve.

]]> By: Jerry Bennett http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92513 Jerry Bennett Fri, 06 Jan 2012 02:00:00 +0000 http://getoutofdebt.org/?p=7231#comment-92513 Foregive your loan?  What a moocher. Foregive your loan?  What a moocher.

]]> By: Abc http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92324 Abc Sun, 01 Jan 2012 07:58:00 +0000 http://getoutofdebt.org/?p=7231#comment-92324 Just take a minute to think about the government sponsored Direct PLUS Loans for Graduate and Professional Degree Students, the interest rate is 7.9%.  US government gives loans to bankers at interest <1%, but keep charging student at 7.9%.  Please wake up, they will not forgive your student loan easily.  That is government's income.         Just take a minute to think about the government sponsored
Direct PLUS Loans for Graduate and Professional Degree Students, the interest
rate is 7.9%.  US government gives loans to bankers at interest <1%,
but keep charging student at 7.9%.  Please wake up, they will not forgive
your student loan easily.  That is government's income.    
   

]]> By: Idealism04 http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92275 Idealism04 Fri, 30 Dec 2011 12:05:00 +0000 http://getoutofdebt.org/?p=7231#comment-92275 Hi Steve,  I'm a teacher at a public school in California. My current loan payment has extended for 25 years so that the amount of my payments are more manageable. However, I am very interested in what you said about teachers having their loans forgiven after 10 years. How do I go about finding more information about this program?  Thanks! Trisha Hi Steve, 

I’m a teacher at a public school in California. My current loan payment has extended for 25 years so that the amount of my payments are more manageable. However, I am very interested in what you said about teachers having their loans forgiven after 10 years. How do I go about finding more information about this program? 

Thanks!
Trisha

]]> By: Anonymous http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92120 Anonymous Sat, 24 Dec 2011 07:02:00 +0000 http://getoutofdebt.org/?p=7231#comment-92120 I'm in the same boat. They don't care about us. We're too old. We should die and decrease the surplus population in their view. I see no student loan forgiveness for us. I’m in the same boat. They don’t care about us. We’re too old. We should die and decrease the surplus population in their view. I see no student loan forgiveness for us.

]]> By: Finley_nancy http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-92049 Finley_nancy Thu, 22 Dec 2011 17:48:00 +0000 http://getoutofdebt.org/?p=7231#comment-92049 I graduated with a BA in 2007 and became ill and unable to work, I am now 67 years of age and can not find a job.  I have a student loan balance of 45,000. and have no idea of how I will repay this loan.  My SSI is only 1029. monthly, any ideas? I graduated with a BA in 2007 and became ill and unable to work, I am now 67 years of age and can not find a job.  I have a student loan balance of 45,000. and have no idea of how I will repay this loan.  My SSI is only 1029. monthly, any ideas?

]]> By: Dirk den Hartog http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91903 Dirk den Hartog Sun, 18 Dec 2011 14:26:00 +0000 http://getoutofdebt.org/?p=7231#comment-91903 I escaped the USA in 1989 to work overseas.  I have never been back to live since and wouldn't move back to the USA for a million bucks  (seriously). I am Vietnam Veteran who is a naturalized citizen with my country of birth being the Netherlands where I live NOW, living the American Dream debt free and 4 pensions in  modern up to date country. I woke up LONG AGO about the big LIE of USA freedom (after coming back from Vietnam). I see the lies of the govt and their media daily all over the internet on sites like Huffington Post  which has become like Fox News of the Internet. My social security is being garnished for a 4000 student loan from1980.   I don't care because my Dutch, German and Luxembourg SS payments are twice as much .   (I worked in all those countries and paid into their systems). To anyone who says the USA is the greatest country in the world, I have to laugh. Not by a LONG shot. I escaped the USA in 1989 to work overseas.  I have never been back to live since and wouldn’t move back to the USA for a million bucks  (seriously).

I am Vietnam Veteran who is a naturalized citizen with my country of birth being the Netherlands where I live NOW, living the American Dream debt free and 4 pensions in  modern up to date country.

I woke up LONG AGO about the big LIE of USA freedom (after coming back from Vietnam).

I see the lies of the govt and their media daily all over the internet on sites like Huffington Post  which has become like Fox News of the Internet.

My social security is being garnished for a 4000 student loan from1980.  

I don’t care because my Dutch, German and Luxembourg SS payments are twice as much .   (I worked in all those countries and paid into their systems).

To anyone who says the USA is the greatest country in the world, I have to laugh.

Not by a LONG shot.

]]> By: Dirk den Hartog http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91904 Dirk den Hartog Sun, 18 Dec 2011 14:26:00 +0000 http://getoutofdebt.org/?p=7231#comment-91904 I escaped the USA in 1989 to work overseas.  I have never been back to live since and wouldn't move back to the USA for a million bucks  (seriously). I am Vietnam Veteran who is a naturalized citizen with my country of birth being the Netherlands where I live NOW, living the American Dream debt free and 4 pensions in  modern up to date country. I woke up LONG AGO about the big LIE of USA freedom (after coming back from Vietnam). I see the lies of the govt and their media daily all over the internet on sites like Huffington Post  which has become like Fox News of the Internet. My social security is being garnished for a 4000 student loan from1980.   I don't care because my Dutch, German and Luxembourg SS payments are twice as much .   (I worked in all those countries and paid into their systems). To anyone who says the USA is the greatest country in the world, I have to laugh. Not by a LONG shot. I escaped the USA in 1989 to work overseas.  I have never been back to live since and wouldn’t move back to the USA for a million bucks  (seriously).

I am Vietnam Veteran who is a naturalized citizen with my country of birth being the Netherlands where I live NOW, living the American Dream debt free and 4 pensions in  modern up to date country.

I woke up LONG AGO about the big LIE of USA freedom (after coming back from Vietnam).

I see the lies of the govt and their media daily all over the internet on sites like Huffington Post  which has become like Fox News of the Internet.

My social security is being garnished for a 4000 student loan from1980.  

I don’t care because my Dutch, German and Luxembourg SS payments are twice as much .   (I worked in all those countries and paid into their systems).

To anyone who says the USA is the greatest country in the world, I have to laugh.

Not by a LONG shot.

]]> By: Calven McVetty http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91886 Calven McVetty Sat, 17 Dec 2011 20:34:00 +0000 http://getoutofdebt.org/?p=7231#comment-91886 I went to college in the late 80s, early 90s, i had lots of student loans out, about 4 years after i graduated i became disabled, now the student loan gov office is threatening to take my soc.security. Doesn't the law that allows them to take from disabled people's social security apply to only those who took loans AFTER the law was enacted and those who took loans AFTER they became disabled? I went to college in the late 80s, early 90s, i had lots of student loans out, about 4 years after i graduated i became disabled, now the student loan gov office is threatening to take my soc.security. Doesn’t the law that allows them to take from disabled people’s social security apply to only those who took loans AFTER the law was enacted and those who took loans AFTER they became disabled?

]]> By: Calven McVetty http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91887 Calven McVetty Sat, 17 Dec 2011 20:34:00 +0000 http://getoutofdebt.org/?p=7231#comment-91887 I went to college in the late 80s, early 90s, i had lots of student loans out, about 4 years after i graduated i became disabled, now the student loan gov office is threatening to take my soc.security. Doesn't the law that allows them to take from disabled people's social security apply to only those who took loans AFTER the law was enacted and those who took loans AFTER they became disabled? I went to college in the late 80s, early 90s, i had lots of student loans out, about 4 years after i graduated i became disabled, now the student loan gov office is threatening to take my soc.security. Doesn’t the law that allows them to take from disabled people’s social security apply to only those who took loans AFTER the law was enacted and those who took loans AFTER they became disabled?

]]> By: Mark http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91657 Mark Mon, 12 Dec 2011 22:19:00 +0000 http://getoutofdebt.org/?p=7231#comment-91657 I am sick of our government bailing out corporations instead of the people. Education is the only way the USA will grow and compete.    Everyone must have the chance to go to college. The government can easily do it. Just let students borrow at a fixed 3-4% interest rate for the entire cost of the education. Then, when the student gets a job take out the amount of the loan automatically from their paychecks, at no more than 10% of gross pay. This very, very simple solution is guaranteed to increase enrollment in higher education and keep students out of a financial nightmare when they graduate. The government will still make money on this and everyone, regardless of their economic status, can go to college.    In addition, public colleges need to keep down tuition and justify tuition increases. If they cannot do this, they will not be allowed to accept government. funded tuition.   I believe in the free market and I am conservative in many of my views. However, higher education cannot be considered a luxury for the rich. Many gifted students are not going to college because of the cost and this is killing America. If anything needs government intervention, it is this issue. I am sick of our government bailing out corporations instead of
the people. Education is the only way the USA will grow and compete. 

 

Everyone must have the chance to go to college. The government can
easily do it. Just let students borrow at a fixed 3-4% interest rate for the
entire cost of the education. Then, when the student gets a job take out the
amount of the loan automatically from their paychecks, at no more than 10% of
gross pay. This very, very simple solution is guaranteed to increase enrollment
in higher education and keep students out of a financial nightmare when they
graduate. The government will still make money on this and everyone, regardless
of their economic status, can go to college. 

 

In addition, public colleges need to keep down tuition and justify
tuition increases. If they cannot do this, they will not be allowed to accept
government. funded tuition.

 

I believe in the free market and I am conservative in many of my
views. However, higher education cannot be considered a luxury for the rich.
Many gifted students are not going to college because of the cost and this is
killing America.
If anything needs government intervention, it is this issue.

]]> By: Mark http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91658 Mark Mon, 12 Dec 2011 22:19:00 +0000 http://getoutofdebt.org/?p=7231#comment-91658 I am sick of our government bailing out corporations instead of the people. Education is the only way the USA will grow and compete.    Everyone must have the chance to go to college. The government can easily do it. Just let students borrow at a fixed 3-4% interest rate for the entire cost of the education. Then, when the student gets a job take out the amount of the loan automatically from their paychecks, at no more than 10% of gross pay. This very, very simple solution is guaranteed to increase enrollment in higher education and keep students out of a financial nightmare when they graduate. The government will still make money on this and everyone, regardless of their economic status, can go to college.    In addition, public colleges need to keep down tuition and justify tuition increases. If they cannot do this, they will not be allowed to accept government. funded tuition.   I believe in the free market and I am conservative in many of my views. However, higher education cannot be considered a luxury for the rich. Many gifted students are not going to college because of the cost and this is killing America. If anything needs government intervention, it is this issue. I am sick of our government bailing out corporations instead of
the people. Education is the only way the USA will grow and compete. 

 

Everyone must have the chance to go to college. The government can
easily do it. Just let students borrow at a fixed 3-4% interest rate for the
entire cost of the education. Then, when the student gets a job take out the
amount of the loan automatically from their paychecks, at no more than 10% of
gross pay. This very, very simple solution is guaranteed to increase enrollment
in higher education and keep students out of a financial nightmare when they
graduate. The government will still make money on this and everyone, regardless
of their economic status, can go to college. 

 

In addition, public colleges need to keep down tuition and justify
tuition increases. If they cannot do this, they will not be allowed to accept
government. funded tuition.

 

I believe in the free market and I am conservative in many of my
views. However, higher education cannot be considered a luxury for the rich.
Many gifted students are not going to college because of the cost and this is
killing America.
If anything needs government intervention, it is this issue.

]]> By: Luicastano http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91622 Luicastano Mon, 12 Dec 2011 05:54:00 +0000 http://getoutofdebt.org/?p=7231#comment-91622 disclaimer: I'm tired, so please excuse my typos/grammar. If you read all the horror stories on this site you will leave feeling like student loans and college = the devil. Here's the truth: Many people entering college are still KIDS who have never had more than a couple thousand dollars pass through their hands and some of them don't even know how to write a check. High school seniors don't do their financial aid homework and don't even understand the difference between Sallie Mae, FAFSA, Stafford loans, subsidized vs. unsubsidized loans, PLUS loans, etc. They fail to learn how to take advantage of the options they have. Some just have their parents do all the work for them. Some just blindly sign their name away without realizing they are getting into debt with REAL money, not Monopoly money. And worst of all, aside from being financially uneducated, many have that "I want that, and I want it now" American mentality. They don't "shop" for tuition, or for the school that offers "the best bang for the buck" they just go wherever they want. Why? Because they can. They make unsound decisions based on appeal, wants, impulse, and don't even know they are doing it. They have no true concept of long term consequences. They are young, hopeful, and still fit well into that a short-term, instant results type of society. I say all this to say, if you're college aged: -Learn about PSAT scholarship opportunities in 10th grade or whatever. -Take AP classes. They will save you money. -Apply yourself in high school(academics AND extra-curricular/community service). You could get scholarships from the colleges you apply to and save money. Also, extra curricular activities/ summer internships + jobs will help you decide what you want to do in life much earlier. This will save you money, because you won't take more electives than what you need to "figure out what you want in life". -Try to start studying another language, and continue with that in college through electives -Take CLEP tests right after high school or during college, they will also save you money. -Once you're in college, don't take your one academic adviser's words as Gospel. MAKE INFORMED DECISIONS ABOUT YOUR EDUCATION. Be resourceful. Look at degree audit sheets. Check out the Job Outlook Handbook put out by the government. Look into grad school requirements early.Google things.Don't take classes you don't need. -If you don't get good scholarships, definitely stay in state, maybe even try doing your first 2 years at a community college. -Look into fellowships and programs (which are different than scholarships) for your field or things that interest you. GOOGLE GOOGLE GOOGLE. Don't just rely on your school to give you updated info. Fellowships and programs are often tied to free stipends, experiences, free trips, scholarships, mentoring, and a network that you'll be a part of forever. -Only take out government issued loans (Stafford) NOT private loans that will give you no options. KNOW the difference between the two. -Pick the same lender every time when your school gives you the option i.e:Great Lakes (then all your loans will be in the same place when you graduate). -Take advantage of grants and Perkins loans first. Know what they are. -Take advantage of subsidized Stafford loans first. Then unsubsidized. Know the difference between subsidized and unsubsidized. -Work at least part time through college,put some of that money toward your loans because it will go straight to your principal. This will also give you work experience that will make you a better candidate for jobs after graduation. -Do internships, diversify your internships and community work. -DON'T spend money you don't have with lines of credit, Hollister credit cards, etc. Spend ONLY what you can afford. -Figure out what grad program you want early. Try to get a full ride to grad school. If you plan ahead, it is totally possible. 3.0  or higher plus tons of community/leadership/research work. Nice tests scores. YOU CAN DO IT NO MATTER WHAT AWFUL BACKGROUND YOU COME FROM. Learn about the Public Service Loan Forgiveness Program NOW (then, if it applied to you, once you graduate, consolidate your stafford loans into Direct Loans when you start working for a 501c3, school, government, or any qualifying employer). I am not a loan lender, I am not an expert, I am not a 4.0 student, and yes I had a life in high school/college. I am just a first generation student who had to climb the ropes ALONE and learned a lot on the way. I'm only 23. If you need help, shoot me an email luicastano at gmail dot com To everyone else with the horror stories, I made some mistakes too. It's still not too late. if you still don't understand your loans or who you owe money, please don't ignore them. Research online to learn the difference. Be resourceful. They will not magically disappear. They will snowball. disclaimer: I’m tired, so please excuse my typos/grammar.
If you read all the horror stories on this site you will leave feeling like student loans and college = the devil. Here’s the truth:

Many people entering college are still KIDS who have never had more than a couple thousand dollars pass through their hands and some of them don’t even know how to write a check. High school seniors don’t do their financial aid homework and don’t even understand the difference between Sallie Mae, FAFSA, Stafford loans, subsidized vs. unsubsidized loans, PLUS loans, etc. They fail to learn how to take advantage of the options they have. Some just have their parents do all the work for them. Some just blindly sign their name away without realizing they are getting into debt with REAL money, not Monopoly money.

And worst of all, aside from being financially uneducated, many have that “I want that, and I want it now” American mentality. They don’t “shop” for tuition, or for the school that offers “the best bang for the buck” they just go wherever they want. Why? Because they can. They make unsound decisions based on appeal, wants, impulse, and don’t even know they are doing it. They have no true concept of long term consequences. They are young, hopeful, and still fit well into that a short-term, instant results type of society.

I say all this to say, if you’re college aged:
-Learn about PSAT scholarship opportunities in 10th grade or whatever.
-Take AP classes. They will save you money.

-Apply yourself in high school(academics AND extra-curricular/community service). You could get scholarships from the colleges you apply to and save money. Also, extra curricular activities/ summer internships + jobs will help you decide what you want to do in life much earlier. This will save you money, because you won’t take more electives than what you need to “figure out what you want in life”.
-Try to start studying another language, and continue with that in college through electives
-Take CLEP tests right after high school or during college, they will also save you money.
-Once you’re in college, don’t take your one academic adviser’s words as Gospel. MAKE INFORMED DECISIONS ABOUT YOUR EDUCATION. Be resourceful. Look at degree audit sheets. Check out the Job Outlook Handbook put out by the government. Look into grad school requirements early.Google things.Don’t take classes you don’t need.
-If you don’t get good scholarships, definitely stay in state, maybe even try doing your first 2 years at a community college.
-Look into fellowships and programs (which are different than scholarships) for your
field or things that interest you. GOOGLE GOOGLE GOOGLE. Don’t just rely on your school to give you
updated info. Fellowships and programs are often tied to free stipends, experiences, free trips, scholarships, mentoring, and a network that you’ll be a part of forever.
-Only take out government issued loans (Stafford) NOT private loans that will give you no options. KNOW the difference between the two.
-Pick the same lender every time when your school gives you the option i.e:Great Lakes (then all your loans will be in the same place when you graduate).
-Take advantage of grants and Perkins loans first. Know what they are.
-Take advantage of subsidized Stafford loans first. Then unsubsidized. Know the difference between subsidized and unsubsidized.
-Work at least part time through college,put some of that money toward your loans because it will go straight to your principal. This will also give you work experience that will make you a better candidate for jobs after graduation.
-Do internships, diversify your internships and community work.
-DON’T spend money you don’t have with lines of credit, Hollister credit cards, etc. Spend ONLY what you can afford.
-Figure out what grad program you want early. Try to get a full ride to grad school. If you plan ahead, it is totally possible. 3.0  or higher plus tons of community/leadership/research work. Nice tests scores. YOU CAN DO IT NO MATTER WHAT AWFUL BACKGROUND YOU COME FROM.

Learn about the Public Service Loan Forgiveness Program NOW (then, if it applied to you, once you graduate, consolidate your stafford loans into Direct Loans when you start working for a 501c3, school, government, or any qualifying employer).

I am not a loan lender, I am not an expert, I am not a 4.0 student, and yes I had a life in high school/college. I am just a first generation student who had to climb the ropes ALONE and learned a lot on the way. I’m only 23. If you need help, shoot me an email luicastano at gmail dot com

To everyone else with the horror stories, I made some mistakes too. It’s still not too late. if you still don’t understand your loans or who you owe money, please don’t ignore them. Research online to learn the difference. Be resourceful. They will not magically disappear. They will snowball.

]]> By: Andrew http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91522 Andrew Wed, 07 Dec 2011 02:22:00 +0000 http://getoutofdebt.org/?p=7231#comment-91522 Hi Steve, Wanted to also ask about private loans. I have private loans and federal for law school totaling about 150k combined. The payments now are at $850.00 a month which is 25% of my monthly income. Way too much! Any hope for the future with Obama's new plan?? I had the income based for a while, and it went up as I am in my second year of repayment. Any help would be appreciated, didnt think Id still be in this predicament at this age! Hi Steve,

Wanted to also ask about private loans. I have private loans and federal for law school totaling about 150k combined. The payments now are at $850.00 a month which is 25% of my monthly income. Way too much!

Any hope for the future with Obama’s new plan?? I had the income based for a while, and it went up as I am in my second year of repayment. Any help would be appreciated, didnt think Id still be in this predicament at this age!

]]> By: Steve Rhode http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91170 Steve Rhode Tue, 22 Nov 2011 19:22:00 +0000 http://getoutofdebt.org/?p=7231#comment-91170 Tom, I'm sorry to say the co-signer is fully liable for the loan if the borrower does not pay. But all hope is not lost. I'd check to see if this is a government backed loan or a private student loan. If it is a government loan there may be options. Steve Tom,

I’m sorry to say the co-signer is fully liable for the loan if the borrower does not pay. But all hope is not lost. I’d check to see if this is a government backed loan or a private student loan. If it is a government loan there may be options.

Steve

]]> By: Thomas Mcgrath http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91169 Thomas Mcgrath Tue, 22 Nov 2011 19:09:00 +0000 http://getoutofdebt.org/?p=7231#comment-91169 Hi Steve, My wife had cosigned my son's student loan which is $57,000.  He has moved to Maryland and has just landed a job.  We have been paying the loan monthly but would like him to help us and he just puts us off saying he will send us some money but never does.  Is there anyway we can make him start paying on this loan or are we doomed to pay?  Is there any forgiveness coming our way to help us? Tom Hi Steve,
My wife had cosigned my son’s student loan which is $57,000.  He has moved to Maryland and has just landed a job.  We have been paying the loan monthly but would like him to help us and he just puts us off saying he will send us some money but never does.  Is there anyway we can make him start paying on this loan or are we doomed to pay?  Is there any forgiveness coming our way to help us?
Tom

]]> By: Leon Gray http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91112 Leon Gray Mon, 21 Nov 2011 00:12:00 +0000 http://getoutofdebt.org/?p=7231#comment-91112 Mr. Rhodes, I have about 44,000 in fred students loans. I also took out two grants for teaching... My first repayment is sheduled for 12/15 of this year. I am a teacher at a title on school. I forgot to verify my employment for the TSA and Georgia Hope teachers scholarship... I have taled with reprentives about the departments have to right a letter that I am doing my service as agreed hoperfully there wont be any problems with that. My question is that I have two dependents, Not sure what would be the best option for me to make interested in the IBR program and consolidation all loans are Fed. Also with new Obama consolidation not sure of what route would be best. I do planning on doing my Service Agreement not sure If I plan on teaching the next 10 yrs though. NEED HELP On a good program to pay back loans any suggestions? Thaks Mr. Rhodes,

I have about 44,000 in fred students loans. I also took out two grants for teaching… My first repayment is sheduled for 12/15 of this year. I am a teacher at a title on school. I forgot to verify my employment for the TSA and Georgia Hope teachers scholarship… I have taled with reprentives about the departments have to right a letter that I am doing my service as agreed hoperfully there wont be any problems with that. My question is that I have two dependents, Not sure what would be the best option for me to make interested in the IBR program and consolidation all loans are Fed. Also with new Obama consolidation not sure of what route would be best. I do planning on doing my Service Agreement not sure If I plan on teaching the next 10 yrs though. NEED HELP On a good program to pay back loans any suggestions?
Thaks

]]> By: Jsavak http://getoutofdebt.org/7231/obama-student-loan-forgiveness-program#comment-91050 Jsavak Thu, 17 Nov 2011 21:05:00 +0000 http://getoutofdebt.org/?p=7231#comment-91050 I wanted to do my nome tax return from 2009 because i found out I could get 3000 to 4000 dolllars back.  I have been unemployed for 4 years currently.  I wanted to use the money to pay for a CELTA certificate so that I can teach ESL .   My question is -- if I now do my tax return and I apply for the program put in place by PresidentObama where only 10% of discretionary income can be deducted , WOULD discretionary income mean my tax return for 3000 dollars ? Or can the student loan take the whole amount from my 3000 dollar return ?  I am pained t admit thatI am still unemployed and need that money for living expenses and to get training to find a new career in teaching .... I use to do office work ate major NYC university but lost my job. Was hoping it would turn into a union job but out of my control Jamie I wanted to do my nome tax return from 2009 because i found out I could get 3000 to 4000 dolllars back.  I have been unemployed for 4 years currently.  I wanted to use the money to pay for a CELTA certificate so that I can teach ESL .  

My question is — if I now do my tax return and I apply for the program put in place by PresidentObama where only 10% of discretionary income can be deducted , WOULD discretionary income mean my tax return for 3000 dollars ? Or can the student loan take the whole amount from my 3000 dollar return ?  I am pained t admit thatI am still unemployed and need that money for living expenses and to get training to find a new career in teaching ….

I use to do office work ate major NYC university but lost my job. Was hoping it would turn into a union job but out of my control

Jamie

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