i Can’t Pay My Student Loans.com – My Story
I’m angry. I know I am not the only one out there who is angry. I was your typical 18 year old with college utopian visions of attending my dream college, which was an expensive private university in the great sate of pricey California. My parents filled out the infamous FASFA and apparently I didn’t qualify for grants or scholarships, but my ‘financial aid adviser’ had a solution…private student loans.
So you’re telling me I could afford my dream school with the help of “low interest” private student loans? Done. Thus, during the course of my college career I signed (sans a cosigner) promissory notes for over $98,000 in private student loans. I walked across the stage after the standard 4 years, proud, bright eyed and ready to take on the world with my fancy diploma in International Business and Marketing in hand. Six months later, my 4.1% interest rates had soared to over 9%. My minimum student loan payments were and still are over $1,000 a month. I had a good job in television making a whopping $21,000 a year — in Los Angeles none the less. Between rent and living I couldn’t afford masssive payments on my student loans — so I did what any new grad does, put them into deferment until my employment situation stabilized.
News Flash – that takes a while.
A year later I was out of deferment/forbearance. As of today, the day I started this site I am 30 days past due on some of my loan payments and I owe $2400. Why so much? SUPRISE — my interest rate increased to 11.1% and my minimum due is now a whopping $1200 a month. SERIOUSLY $1200 a month…that is a mortgage payment!!! Unless I use my degree to shield my head from the sun and rain I can’t live in my education. An undergraduate degree doesn’t command a job that will pay me enough to make rent, a car to get to work, gas at $4.00 a gallon and basic necessities to live!
I went to college to be a productive member of society, work hard and contribute to this country. That is what we are suppose to do right? Well your financial aid counselor at the university leaves out the fact that you can’t afford student loan payments for a reason…because then they wouldn’t be getting a well rounded, top of his class, debate team champ and football player to add to the statistics about how great their university is. Let me tell you a little something about my alma mater, our chancellor has a home in Bel Air California, provided by the University. These people are getting rich off the backs of unknowing college students and it SICKENS me!
Like I said, I know I’m not the only one out there and that is why I created this site. To unite all of you, my friends, who wanted to be a productive member of society but are working extremely hard, not making it and considering drastic options like prostitution, stripping, sperm donation, egg donation, and then there are those who just couldn’t handle it any more and took their own lives out of desperation to stop the constant harassment.
I HAVE HAD ENOUGH AND THIS HAS TO STOP. Who is responsible? The predatory student loan companies, our colleges, the current president’s administration who PROTECTED these people. What bank in their right mind would give a $100,000 adjustable rate 20 year LOAN to a college student without a guaranteed income and no cosigner? THEY SHOULD EXPECT THAT TO DEFAULT. Ah but the current administration gave them a get out of jail free card so even bankrupcy can’t save us.
Let’s stop these parasites from draining us and ruining our lives. Tell me your story how much you owe what your payment is and I will post them on this site. Alone we are at the mercy of these people but together we can make a change. If anyone has found ways to pay these things back let us know! Share your story and let every one know that we aren’t alone. I am going to start pressuring lawmakers to fix this problem but one down and out college grad can’t make a difference. If we get together we can give these student loan companies and knowing college financial aid offices a fight they deserve for knowingly deceiving us to stuff their fat pockets.
If the University chancellor has to move out of his University funded Bel Air mansion as reparation for knowingly screwing a generation of college students I don’t care. He can become a foreclosure statistic. Something has to be done…so friends…
LET’S DO IT!
Tell me your story…By submitting your story you are signing a petition that we will use to get our elected officials and other supporters and for people to finally recognize our plight and help us do something about it! I will send you updates as this movement progresses. Let’s put a stop to this madness and try to help ourselves. My goal is to help reform the student loan industry and save future college bound students from our fates. All of us uniting can make a difference! TAKE A STAND. SIGN THE PETITION. TELL YOUR STORY. YOU’RE NOT ALONE!
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