Ask The Get Out of Debt Experts Sallie Mae Student Loans

How to I Get Obama Student Loan Help for My Sallie Mae Student Loans? – Jo

“Dear Steve,

I took out a student loan–a federal loan–in 1991 for $6000 at 8%. Due to a long series of financial setbacks, unemployment, a divorce, yada, yada–I now owe over 13K and it’s 20 years later. My loan now belongs to Sallie Mae. I am a single woman, 51 years old, no kids in CA with an income of about 20K a year

Does the new Obama plan for loan forgiveness after 20 years apply to me? If not, is there another program for debt forgiveness that would? I am not able to change careers to one that gives forgiveness as listed in the Dept. of Ed.

Jo”

Dear Jo,

I would seriously be against any government program delivering any assistance for Sallie Mae private student loan help.

When it comes to private student loans your only options lie with the servicer.

Please post your responses and follow-up messages to me on this in the comments section below.

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

3 Comments

  • Dear Steve, I took out a “Parent Loan” for my son (to add to his student loan) for college about 25 years ago. I had 2 of these parent loans that were consolidated many years ago and are now serviced by Sallie Mae. Over all of these years, this loan has been deffered and the loan has grown with interest from about 12k to 50k. I am now 56 yrs old and make only 24k a year and have only ever made about 20k a year. My son is over 40 yrs old and has never felt responsible to help pay for this loan. Since it seems you are the expert here, is there any way possible that you know of to get loan forgiveness for Parent Loans …or do I have to actually die to stop worrying about this. There is no longer any defferment, extension, or hardship postponement possible. Thank you,    

  • All loans, including Sallie Mae, should be forgiven, or our middle class and democracy are doomed (which is exactly what the 1% want!). Education should be FREE! Wake-Up People! You’re Being Played by both the Republicans and Democrats!

  • All loans, including Sallie Mae, should be forgiven, or our middle class and democracy are doomed (which is exactly what the 1% want!). Education should be FREE! Wake-Up People! You’re Being Played by both the Republicans and Democrats!

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