Bart proposes student loan amnesty

It is not the students fault that the government did not do its duty to ensure that its interest in the contract phase was properly represented to the students. Thats the responsiblity of the government. A responsiblity they neglected and one that we are haveing to pay for.
thanks..
regards,
Lautsprecher

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sohbet muhabbet mirc sevgi

To make a long story short...

Single mother with a GED on welfare decides voluntarily (before the welfare reform act) that I needed to learn how to type at least so I could become a receptionist something akin that that. The adviser at the community college convinced me that the 2 + 2 program was the way to go because I HAD to have a 4 year degree to make any kind of money to support my child and get off welfare and once I completed the 2 years at the community college I could go to the University to complete the Undergrad degree. I had no money and was living with my parents and was on foodstamps, welfare, wic, etc. Financial advisor assured me that was NO problem, just signed on the line and we will get you all the money you need and you don't ever have to even think about paying a dime back until at least 6 months after you graduate from your final degree. Well that sounded like light years away at that point and I also was GED educated at that point...so you get my POINT. I signed. Of course I got the pell grants and the perkins and the all the federal loans I could get, I began to look forward to them because as the years rolled around things got tougher for me and my daughter and we did not have a place to live anymore at one point, I had to send her away with family on more than one occasion while I slept in my broke down car (paid for with a student loan). Many times I didn't have a pen to write with let alone a pad to write on and thankfully had friends in class who would let me copy pages of their text books so I could read for the assignments. SO, it wasn't like I was living high and mighty off of the $2,650 or so we got each semester!
I did graduate, even after having to take (and pay for) extra classes because I did not graduate high school. I moved out of state to live with my parents because I could not afford to live on my own and I didn't find a job, even with my almighty degree. So, I did the obvious, I went back to school. Masters program in Public Administration. More student loans, this time at the graduate level. Wow, I didn't know you got more money for graduate school. I also worked by the way the whole time through college and grad school part-time on and off campus. Then I got accepted to law school. I graduated in 2000. Took out ever possible loan, bar study loan, law school signature loan, private co-signor loans, as well as all of the federal loans. My 1st law job started out paying $30,000.
In the last 18 months I have been out of work 5 months due to being laid off, had my car repossessed due to a nasty anullment, took the cab to work and bring my son to daycare, was without a car for 5 months (b/c of my credit and the student loans) until I finally got financed. Do you know what Sallie Mae asked me on the phone before I hung up on them the last time? "Well why didn't you take the city bus?" (there was no city that ran where we lived and that wasn't even the point) And they also wanted to know why I couldn't trade down my vehicle. I tried to calmly explain to them that it took me 5 friggin months to get approved for ANY vehicle and it was special financing so they wouldn't finance a car that was older then 2 years. Its not like I'm driving the Jag I used to drive that actually cost over $250 LESS a month then what I'm paying NOW!!
Current status: Appx Student loan debt: $250,000 (yes, I've consolidated all federal loans. no, there is no forbearance time left on the private ones)
Current Tax Debt: Appx $30,000
Current Gross income: $75,000
Current amount of Credit Cards: 0
Current amount of Bank Accounts: 0
Current amount of dependents: 2
Current amount of child support/alimony: 0
Current amount of repossessions: 1
Current amount of Divorces/Anullments: 1

So, for all you posters that mentioned you are exiling or already have, I am interested in hearing more. I am actively researching the issue and seriously considering the option. I've already considered the suicide route as they can't collect from me if I'm dead (but I wont give those bastards the satisfaction of knowing they got to me like that!) It is a very, very sad, emotional thing for me as my law practice actually consists of U.S. immigration law, helping people come to this great land of the free, home of the brave...and here I sit pondering running away so that I can in fact be free.

I owe 200 k just from getting a history bachelor that i can wipe my butt with if i run out of tissue paper. I will default. If i don't work in the United States the IRS can't garnish wages that don't exist. Social security won't exist in 2050 so i don't need to worry about not getting something that won't be there anyway. (i might as well rip up my social security card.) What do i need good credit for? To buy a house and a nice car? I can't get that stuff anyway if i pay back the loans... I rather die a defaulter than live extorted. Yea i should pay back what i borrowed, not pay back back four times what i borrowed because some tool is greedy enough to charge inhumane interest. Im cash advancing one last credit card and leaving the country;never to be seen again. Start a new life and make more in a developing nation because i won't have to pay back interest to rich people. (i made a mistake of taking out a loan now i will correct it by bailing myself out; one life to live and im not gonna give it to Sallie Mae) This is my personal position. Yea JP Morgan's family doesn't need to do things like this because money isn't an issue but for a poor person like me it is. So sallie mae YOU made the mistake of lending to me because im not giving u not even a piece of shit from my asshole and its for all my student borrowers that are going through hardship this is for you

The Student loan people doubled my student loan and said that I had 2 loans instead of one.
Unable to pay back 2 loans, I sued them and won.
They took the second loan off. I then made an offer to pay the original loan, which they refused.
They intentionally try to run these loans up so they can rip you off legally.
This is illegal, but those crooks in government
let it happen.
My loan is still unpaid at this time because of their usurous practices.

He right about this but then again it all sounds beautifully in words.Students need real help and not just promises in electoral campaigns, the educational system also has an important role here. I finished college two years ago and my credit score is pretty low so I thought that voting for 0 balance transfers would be a good move, let's see what the future has to say.

Due to my husbands student loans and mine--another garnishment, three kids, he pays child support, I get no child support. He is already paying child support, arranged loan payments with Fed gov over his loans, and now Perkins, is garnishing...

payday, we have no money for food for our kids, not money for anything--its, pay trailer and rent, or food and electric.

Sadly--I don't know the drug market well enough to sell drugs--I'M NOT GOING TO PROSTITUTE OR PROSTITUTE MY CHILDREN,

but tomorrow I'll be down at the welfare office applying for welfare/food stamps, I HAVE NO CHOICE--

its either that, or give up my kids--the DAY I AM FORCED TO GIVE UP MY KIDS TO STUDENT LOANS IS THE DAY I CALL UP OSAMA,

GET WHAT I'M SAYING, THIS IS BULL, its just total bull. We went to college, to better ourselves, I went to college to provide for my kids, to get off welfare--to now, be forced to get back on, I'm stuck between rock and hard place.

My kids, oldest just got in trouble for pot. What do I tell her, work hard, go to college? Yea right, you know my kids have absolutely no interest in school or college--why should they?

They've seen and suffered, because their parents were STUPID ENOUGH TO GO TO COLLEGE.

and now, are in worse shape, than majority of welfare and homeless people. My husband TOLD the company he'd arrange payments, he's already being garnished 15%--they don't care, they took another %529.oo, if he doesn't pay the other agreed payment, they'll garnish $900.00 or more,

meaning, and he works for the state--he'll be working for free. Literally--he won't even make enough to pay rent--I can't help, unemployed, when I work--I make zero after child care and student loan payments. [after school care and summer, have 8 year old and its illegal to leave him home alone]

Jobs I've been able to get, and now with bad credit--near impossible, are paying less than $10.00 an hour and I owe 46,000 loans/defaulted Plus, geesh, probably 100,000 in interest. LOL garnishing social security, good luck--its only going to be 100 a month for me, because my first husband some how got it to where I don't get his SS and was homemaker for 10 years.

So, I got couple of choices, sell drugs, go to prison,

sell guns, maybe go to prison,

rob a bank--maybe, go to prison

sell arms to terrorists, its cross my mind, if I could make enough money to put my kids up somewhere safe, at least they'd be provided for--I mean, Jesus, this is what it comes down too, IF I would have known then what I know now, I'm 45, I would have just stayed on welfare and said to hell with it.

I probably would have been in HUD by now, maybe doing o.k. but no, I had to believe in not being a drain on society and bettering myself--

how STUPID WAS THAT?

MY KIDS WON'T BE SO STUPID--and if they can't get work--they know, even if they have to sell drugs, they'd do Less time, than me and my husband have,

for doing the right thing, working, going to college, so we would wind up homeless and on welfare. I am just so beat down that all I can do is laugh at the absurdity of it all....

I am a single mother of three who takes care of my disabled mother. I entered college at 18 years of age to have a wonderful life, while at the same time my mother entered college. We both took out loans. My moms total was 30,000 dollars and mine was 59,000 dollars. I became the teacher and my mother worked with batter women. Each of us giving back to the community to support those who have the smallest voices, the funny thing, and nine years after graduations I am about 100,000 dollars in student loan debt, and my mother's disability checks are being garnished every month. As a teacher I must return to school every five years, more student loan debt. Ironically, the student loan industry, tells me that I don't make enough money to pay them back, but they won't forgive my loan. I filed bankruptcy four years ago and was denied the opportunity to include the student loans. The judge told me I had no assets, but I still have to pay student loans. I lost my home, a car, and my credit is shot. I need help. I am under a mountain that is designed to crush me. I love teaching, but I can't afford to teach and live. I am praying that God will send deliverance for us all. I believe God is the only one that can bring suffering people into freedom from bondage and into His rest.

Thank you Mr. Bart, i have paid over 14,000 dollars on a 9000 dollar loan and still owe over 10,000$. I happen to have a wonderful Representive Mike Pence who seems to care and is trying to help also. He happens to be a republican also. They penalize and treat people who were in default and wage garnishment of student loans worse than they treat criminals, at least if you commit a crime you do you time and it is over-it doesn't seem to ever be over for the 89 billion dollar a year profit of Sallie Mae/US funds and other loans companies that sell our loans back and forth charging us 1000 dollars each time. God Bless you-Michelle

How can we as citizens of this country get our voices heard? I have seen brief commentary by television journalists who have spoken of the situations that student loan borrowers are facing, but nothing ever happens. We are now speaking of helping those who are facing issues with the mortgage crisis, but student loans are never seriously discussed by any politician. In my own situation, I currently have seen my loan balances double in the last 8 years and I see no end in sight because I am on an income contigent plan of $650/month, which does not even cover the interest. I will have to pay this amount for the next 20 years and then pay taxes on a balance of over $100K (todays balance) to the IRS after the federal government "forgives" my loan. After this length of time, because of the interest, I will have paid triple the original balance owed of $45K and will still not have touched the principle on this loan. I was raised to be an honest person and want to repay the original amount owed, but there is no way available to individual citizens to discuss this with the Federal direct loan system or with SallieMae. The system is oppressive. I want to save money to put my own children through college and buy a home for my family (currently renting), but student loans are preventing me from doing this. I am and my children are citizens of the U.S. and my wife, a naturalized citizen is from Brazil. I am seriously considering leaving the country to escape this debt. We do not want to do this because we both love this country, but I feel I do not have other options and the system is "blind" to my situation and to those who are in similar situations. I have been a life long Democrat, but if Republican Rick Bart will stand up to the system and provide a voice for my family, I will support whatever political aspirations he has. Please help us all in this situation!!!!

It is too bad there aren't enough honest politicans out there. The only reason why student loans are impossible to discharge is because it is all a racket, where everyone makes money. The universities make money from high tuition which students can only pay by borrowing, the lenders like Sallie Mae through high interest fees & fines, and politicians through campaign funds(also known as bribes) by lenders. Even employers benefit through slave labor, because as long as you owe a debt, you have to have to work to pay it. Student loan borrowers need to organize. Only by being a significant voting block can we make a difference. I encourage people to log on to student loan justice.
My story is quite simple: I took care of my disabled elderly mother until she died. I am very physically ill. I am lucky enough to work for the federal gov part-time (10 hours/week) which works around my physical disabilities. I have medical debts exceeding $20,000 (and I have health insurance). I attempted to file for bankruptcy and was rejected the right to a trial. Even criminals have the right to a trial, but I as a law-abiding citizen was denied the same right. I appealed this decision judgment and was rejected. The reason given was I refused to enter into the W.F income contingency repayment plan, wherein I would be forced to pay $214/month for 25 years & then be subject to a $100,000+ tax liability to IRS for the remainder of the loan that would be forgiven. According to the appeal judge, I should not be entitled to bankruptcy relief, because I earned more than $13,200 last year for two people. I think I earned $17,000 last year. Who in the state of NJ can pay rent, buy food, or anything on $13,200 for two people? I regularly have to decide between eating and medication. I already can't afford to eat 3 meals a day. Yet, I am denied the right to continue to fight for relief. I am sure the lenders, the politicians, and even the judge, eat 3 meals a day, but I am denied the same right. And in an ironic twist, Bear Sterns was just bailed out by the US gov for $20 million and citibank and other banks just received $200 million to offset the mortgage crisis & will receive another $400 million in bailouts. But I can't get bankruptcy relief. If that's not open class warfare, I don't know what is!!!

Irene
Read your story that ws on "Politicker". Just wanted to say may God Bless You, I feel for te situation that all student borrowers find them self in , I have a ton of student loan debt too and I have pretty much given up on ever paying off this debt. I live for the day when "common sense" and "reason" returns to the student loan world. I consider myself to be an honest, hard working person too and these student lenders can only be described as "Blood Suckers". I support the efforts of student loan justice and hope if we can all organize and make enough noise about this criminal activity someone will notice and we can work towards fairness and reason in the student loan world.

Frank Simasko

I went back to school when I was in my 40's--a single mother with two teenagers and an eleven year old son. I got married soon after, got pregnant and had a baby while working full-time, getting my bachelor's and then my master's and taking care of three kids, a baby, and a husband who, at that time, was also a full-time student and was unable to work because he didn't have a permit to work in this country. I graduated with a 3.3 gpa, was a graduate assistant and was hired at the school to teach two world history classes to college freshmen. Moved to Arizona, had a number of financial problems, was unable to pay my student loan debt, consolidated my loans because that was the advice I got. With every consolidation, all the interest and fees became principal and now interest was being charged on interest, and so on, until my $30,000 debt became $115,000. My husband and I began to do better and we paid off his student loan because the bank he was dealing with was reasonable. We offered to pay my original loan with a reasonable amount of interest (in full) to the company which purchased my loans, but they refused. They wanted it all. I then told them that I would not pay another $ willingly. They could get what they could get through garnishment or whatever, but this loan would never be paid. I'm 64 years old and I will die before this loan is paid. I am now retired, have nothing in my name (it's all in my husband's name) and will one day start drawing my SS and I'm sure they'll garnish that too. What kind of people are they who refuse to take payment of a loan in full (with a reasonable amount of interest) but then torture us continually through threatening phone calls, etc. I screen all calls, never talk to them. They have called me a criminal, said I should be in prison, etc. I have worked for agencies that have contributed more to indigents than these collectors will ever give. Like most of the student loan borrowers, I am a good, kind, generous person who pays her bills, contributes to society, has raised a total of 7 children, none of whom are on welfare or in jail, but I "should be in prison!" God help these people because one day they'll have to answer for what they've done to good, decent people who only wanted to have a good life for themselves and their families.

Irene

Sorry for the spelling in previous comment. I wrote it in a hurry. I would be curious if anyone has information on discharging the student loan in a foreign court? I also wrote a lawyer who claimed to know about student loans on the internet and I wonder if she worked for the student loan industry. She was not helpful and I don't get why they always resort to the solutions that the department of Education offers. Lawyers seem unwilling to fight the department of education. Sorry if I offended any lawyers as I know some that have hefty student loan debt. I also wonder if there is anyway for student loan borrowers to come together and form a class action lawsuite against the department of Education. There has to be a loop hole in the law somewhere. There always is. I just think that no one has found it yet.

I drive by the University where I recieved my Masters degree and think how beutiful the buildings, landscaping and everything is. I think about how I paid for some of that and I should have a condo on campus seeing how I owe over 110,000.00 by time I pay that off if ever I should own a pretty large chunk in the University. Anyway, does anyone know if I move to Canada and become a citizin could I discharge my U.S. student Loan in a Candain court seeing how student loans are dischargable in Canadian courts. I wonder if due to international treaties if the U.S. government would have to honor this.

I am always ready to go underground - there is no way out until we get reforms. It's a maze and we are the rats. They treat us like sewer rats and they want to force us down there to live, so much for the American dream.

People who are taking measures for a cause such as the private student loan issue are those who I appreciate.

Honestly, I don't know how I'm ever going to buy a house or own anything myself in the future if our rights as borrowers aren't given back to us. We are being raped and stolen of our money and too many government officials have sat back (or been paid off) and watched the dreams of many go down the drain due to excessive debt, leading to a high obesity, depression and suicide rate.

Keep going for it Bart!

I agree, it is quite refreshing to see someone out there is willing to do something to help Americans pay back student loan debt fairly.

After consolidating student loans with one company (AES), another company (ACS) bought them out and in the process doubled the debt from my undergraduate degree. It took me 6 months and countless hours on the phone to get it straightened out. I also wrote several letters to the company before they would finally put overpayment towards principal instead of expanding the life of my loan. They want me to stay in debt forever.

The worst part about the student loan scandals is that many high schools, parents, and other influences in students' lives put so much emphasis on the importance of getting a college degree.

I earned an undergraduate and graduate degree along with a $50,000 debt and make less then many persons in my community with technical degress or no degrees at all.

In 1993 I took out student loans to pursue my Bachelors for $35,000. Due to life circumstances (my husband had a breakdown) I did not finish my degree and was not in a position to repay the loans per the payment plan in 1997. Although, at the time, I tried to work out an adjusted repayment plan, I wasn't able to do so (I was told it wasn't an option by the federal government who wanted to garnish my wages as an option) and I defaulted on the loan. I am now rehabilitating the loan and have been doing so since December of 2007. By defaulting on the loan I am now paying the:
principal $35,000
penalty $15,000
interest $22,000
for a total of $72,000 approximately
The loan is about to be sold to a lender where the interest and fees will be capitalized thus making loan more than double the original. I will pay this off until am 70 years old.
In the end I will probably have paid $220, 000 dollars for a $35, 000 dollar loan. I wasn't unable to get my degree even because of my husband's illness.
I can't save for my son's education. I can't help out my elderly parents. I can't buy a house and I can't move out of a one bedroom apartment.
My rent just went up by $140 a month. It went up by $200 last year. We live in a 1 bedroom apartment. My rent is $1,470 a month. I can't even move into a cheaper place because I can't come up with first and last month's rent and moving costs.
The collection agency has sent me materials notifying me of their intention to rehabilitate the loan. After it is rehabilitated it is sold to a lender and consolidated. I've called the collection agency, Diversified Collections Services in Texas, to find out more about who my loan will be sold to and the principal that payments will be based on. They have been inconclusive in providing this information.
I have been told if I pay $25,000 today, the loan will be forgiven. But because I am not rich I can't do this and thus will be an indentured servant to the U.S. government for the rest of my life. The payments will go up when the loan is sold. I am so stressed, I can't sleep at night. I am a hard working American and I have worked my whole adult life. I now know that I will never get ahead because I made the terrible mistake of taking out student loans. I will admit when I took out the loans I was very ignorant about the whole process. I was always told that you had to have an education to make it.

It is amazing to me that someone living on SSI and it's not even theirs, it's their husband's, and 55 years old, no job prospects is tortured in this country.

Where are the jobs promised for getting an education? All I see are uneducated ghetto slobs with jobs.

We should build our own underground and financial banking system.

I am sick of this country. But, hey, some Congressmen and women want to give FREE tuition to illegal aliens, even after they rape and kill people.

Way to go, AmeriKKKKa

Not only private loans, but ALL student loans issued before 2000 should be eligble for bankruptcy or, at the very least, a new beginning.

Perhaps if they allowed us to just pay off the original principal balance, and erased all other charges since the loans became due, we might have a chance.

What they are not addressing, is when the loan amount due is more than the individual can pay. Why spend 10 years paying partial payments when not one dime goes to paying off the principal? I agree with the comments made by "this is america". Seems our only option is to go underground and live as 4th class citizens in our own country because of the student loan contact fraud.

I bet NO ONE was told that if we signed those contracts, that congress would be able to change the terms of the contracts at will and force us to accept the changes.
That is a constructive fraud, aka misrepresenation, or NO represenation at all and the contracts should be challenged as void to begin with.
It is not the students fault that the government did not do its duty to ensure that its interest in the contract phase was properly represented to the students. Thats the responsiblity of the government. A responsiblity they neglected and one that we are haveing to pay for.

The rules need to be changed desperately. I owe about 185k and some of the debt is at 10.25% with Sallie Mae. I am in the process of filing for bankruptcy as my business (in real estate) collapsed. (where is my bail out?) All debts will go except for the student loans of course. Recently, I realized that there is no future paying between 1100 and 1500 a month in loans. At then end of my career I will have no savings at all. It begs the question, why bother to work now? If I own nothing then they can take nothing. My credit is already shot anyways considering the bankruptcy. Going underground makes a lot of sense and may be the only option people like me have. No phone, no house in my name, no bank accounts and no credit cards. It is crazy that his is actually happening in the USA.

Thanks Mr.Bart for your effort. Like alot of the folks, I to have suffered under the burden of good intentions requarding the student loan system. As I see it, at the very least congress should appoint yet another committee to look into this travesty that has happened to the education process. It shouldn't turn so many lives upside down, and hender them from being a responsible and productive member of society. They need to investigate and get answers to how people get themselves in this position and stop the bleeding for our youth, our future. Track the money, who's getting rich off the backs of decent people. Why is the process not situp to assist people in getting back on their feet instead, of stealing every ounce of dignity they have left to just survive. No wonder some want to leave the country, go underground and off the record or worse, kill themselves. I've just completed a so called REABILITATION program, Dept. of ED says they'll clear up the bad credit, and since the credit score based,( jobs, loans), requirements have keep me from qualifing for in the past. That's a step in the right direction I suppose. A NOW I even can take out another consolidation loan to pay off the original $8000. that is now $30,000.,I can't wait to see how many credit collection agency's they can change on me to make money off of the new one. Last thought to my peers...

Don't give up! We're not losers here, it's a flawed system that were up against. Evenually the right eye's and ear's will grasp this concept and seek justice, and give us restitution for the wrong doing. Making us all good citizens again, understood and whole so we can truly thrive instead of just exist.

I Support also the efforts of studentloanjustice and am a contributing member.

God Bless

I originally took out a loan in 1985 for $10000. I could not find a job after graduation until 1990. "Get an Associate degree in Programming and you'll qualify to get a job as a programmer". I was eventually teaching students on the side (for free) how to program. And yet, I couldn't get a job as a programmer.Why? Is it because I didn't "know" anyone? Yes, partially. The other reason is our gool ol' government made it easy for contractors from other countries to take IT jobs. They increased the limit again and again at the bequest of the liars in the IT lobbies. And now, over twenty years after I got the $10000 loan, they garnished my wages.Why not ten years ago when I could afford the payments? (until I was layed off, that is...5 times!). I didn't even know who had my account it was passed off so many times. So I was double-stabbed in the back by our (ha ha) government. They gave away our jobs and won't forgive our loans (unless we are Citigroup, et al).

Nicholas