Submitted by Struggling Student (not verified) on February 12, 2009 - 9:01pm.
I am about to graduate with my B.A. in May and have approximately $60K in PRIVATE student loans. Because of the unreasonable standards set by the government on income I was ineligible for much federal relief and was forced into the predatory arms of the private sector. It is ridiculous to think that the only way middle class people in this country can go to college is if they want to spend the rest of their lives suffering in enormous amounts of debt!
I am not one of those people who purchased a house I knew I could not afford. Neither I, nor my family, are now benefiting, nor have we ever benefited from, government assistance of any kind. I have held down jobs since I was 15 years old, including both a full and part time job while in college. I have contributed for years, and will continue to contribute, to the tax base. All of this and the government is telling me they cannot help me?
They will not help me better myself, which in turn betters the country, but they can give breaks to people who defaulted on mortgages they never should have received? They can help the very banks who offered up these mortgages that created the whole credit mess? They can do all of that, costing the tax payers (myself included) billions, but they cannot keep private student loan organizations from preying on desperate students who have no other way to go to college?
I am not asking for a free ride, I would love to be able to pay for my loans. However, with the unreasonable interest rates applied to them I cannot. I have already received a job offer for $35K a year and medical benefits (surprising in this economy and very reasonable for someone fresh out of college) and even with that there is absolutely no way that I can pay back loans and maintain anything near a reasonable standard of living. In fact, attempting to pay them back could force me further into debt (this time with credit card companies who are just as bad). All I am asking for, for me, and for the millions of others out there, is a little help!
Our government gives free hand outs to illegal aliens, to people who are content to stay in poverty and not better themselves, people like the unemployed and unmarried mother of octuplets (brining her total to 14 children without a father) via food stamps and medical benefits, to people who make unwise financial decisions (like buying homes they can't afford), to the banks that caused all of the current problems (who use the money on "team building retreats") but they cannot help their future?
Food for thought: out of all my high school friends who even tried to go to college, but who had to pay for school with out government assistance programs (because our parents made "too much money" or because of our race. Yes I am bringing race into the equation, let’s be real, it affects federal aid!) I am the only one who will graduate. Everyone else has dropped out of college because there was no way for them to pay for it. There was no way they could be granted, or pay back, private loans. This is practically a type of class legislation! These lenders and the government, based on their laissez-faire attitude toward lender practices, are discriminating against groups of people and in turn keeping them from achieving the “American dream,” that is if it still even exists. Are we really saying (through lack of legislation and protections) that middle class people, or people with bad credit, cannot go to college?
Again, I am not asking for a free ride, but for a reasonable one. I have no idea how I will survive if forced to pay back the entire amount of these loans (mostly due to the unreasonable interest rates). And for added insult to injury, unlike most college students, at the time of applying for some of these loans my credit score was as high as 750 and has not dipped below 700 since. Yet still, sadly for me, there aren't many options. Because representitives of the government are aiming to make it more difficult by fighting Rep. Davis, trying to claim bankruptcy under the "undue hardship" idea from the Brunner case (Brunner v New York State Higher Education Services Corp. for those of you not aware of it) may be my only choice. Other than that there isn't much for the everyday middle class person to do.
Something is wrong here and it needs to be changed and Rep. Davis is on the right track! All of the Democrats are trying to say they are against lobbyist (including President Obama), that they are trying to represent the needs of their constituents rather than big business like the Republicans do. To them I say prove it! You have the power now. Follow Rep. Davis's lead and turn your backs on these banks and their campaign donations, and do your job. Help me, help all the others like me, and most of all help your future. If you can't do it for the right reasons, think about yourselves, something all you politicians do best! Think of all the voters (both now and in the future) who will be appreciative!
Rep. Davis is on the right track!
I am about to graduate with my B.A. in May and have approximately $60K in PRIVATE student loans. Because of the unreasonable standards set by the government on income I was ineligible for much federal relief and was forced into the predatory arms of the private sector. It is ridiculous to think that the only way middle class people in this country can go to college is if they want to spend the rest of their lives suffering in enormous amounts of debt!
I am not one of those people who purchased a house I knew I could not afford. Neither I, nor my family, are now benefiting, nor have we ever benefited from, government assistance of any kind. I have held down jobs since I was 15 years old, including both a full and part time job while in college. I have contributed for years, and will continue to contribute, to the tax base. All of this and the government is telling me they cannot help me?
They will not help me better myself, which in turn betters the country, but they can give breaks to people who defaulted on mortgages they never should have received? They can help the very banks who offered up these mortgages that created the whole credit mess? They can do all of that, costing the tax payers (myself included) billions, but they cannot keep private student loan organizations from preying on desperate students who have no other way to go to college?
I am not asking for a free ride, I would love to be able to pay for my loans. However, with the unreasonable interest rates applied to them I cannot. I have already received a job offer for $35K a year and medical benefits (surprising in this economy and very reasonable for someone fresh out of college) and even with that there is absolutely no way that I can pay back loans and maintain anything near a reasonable standard of living. In fact, attempting to pay them back could force me further into debt (this time with credit card companies who are just as bad). All I am asking for, for me, and for the millions of others out there, is a little help!
Our government gives free hand outs to illegal aliens, to people who are content to stay in poverty and not better themselves, people like the unemployed and unmarried mother of octuplets (brining her total to 14 children without a father) via food stamps and medical benefits, to people who make unwise financial decisions (like buying homes they can't afford), to the banks that caused all of the current problems (who use the money on "team building retreats") but they cannot help their future?
Food for thought: out of all my high school friends who even tried to go to college, but who had to pay for school with out government assistance programs (because our parents made "too much money" or because of our race. Yes I am bringing race into the equation, let’s be real, it affects federal aid!) I am the only one who will graduate. Everyone else has dropped out of college because there was no way for them to pay for it. There was no way they could be granted, or pay back, private loans. This is practically a type of class legislation! These lenders and the government, based on their laissez-faire attitude toward lender practices, are discriminating against groups of people and in turn keeping them from achieving the “American dream,” that is if it still even exists. Are we really saying (through lack of legislation and protections) that middle class people, or people with bad credit, cannot go to college?
Again, I am not asking for a free ride, but for a reasonable one. I have no idea how I will survive if forced to pay back the entire amount of these loans (mostly due to the unreasonable interest rates). And for added insult to injury, unlike most college students, at the time of applying for some of these loans my credit score was as high as 750 and has not dipped below 700 since. Yet still, sadly for me, there aren't many options. Because representitives of the government are aiming to make it more difficult by fighting Rep. Davis, trying to claim bankruptcy under the "undue hardship" idea from the Brunner case (Brunner v New York State Higher Education Services Corp. for those of you not aware of it) may be my only choice. Other than that there isn't much for the everyday middle class person to do.
Something is wrong here and it needs to be changed and Rep. Davis is on the right track! All of the Democrats are trying to say they are against lobbyist (including President Obama), that they are trying to represent the needs of their constituents rather than big business like the Republicans do. To them I say prove it! You have the power now. Follow Rep. Davis's lead and turn your backs on these banks and their campaign donations, and do your job. Help me, help all the others like me, and most of all help your future. If you can't do it for the right reasons, think about yourselves, something all you politicians do best! Think of all the voters (both now and in the future) who will be appreciative!