“Dear Steve,
My son has 2 Government Student Loans(Sallie Mae & NelNet). He is paying over $300.00 on each one, but they want $816.00.
My husband is a Disabled Vietnam Veteran and now the loans are coming after us. They want to garnish his pensions of the difference in payment. I do not work cause I take care of my husband, but I was thinking of getting a part-time job, because we need the income, but the student loan company has threatened me by saying, if I ever get a job, they will garnish my wages. So I decided not to get a job, now they are harassing our families and friends. How do you get them to stop? We can’t even answer the phone anymore.
Denise”
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Dear Denise,
It sounds as if your and your husband cosigned for the loans. That’s the only reason they would come after you.
The way to get them to stop is simple. Just have your son consolidate and enroll the loans in an Income Based Repayment Program. His payment could be as low as $0 per month. See this article to learn how to see if these are really federal loans, and how to enroll in the program.
The biggest issue to clarify here is if these are really federal loans or private student loans you cosigned for.
If your son does this there would be no reason to go after you.
Please post your responses and follow-up messages to me on this in the comments section below.
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