General Discussion
In reply to the discussion: Forgiving Student Loans..... [View all]smirkymonkey
(63,221 posts)Through a series of hardships, I had to defer and then go into forbearance (after a long period of unemployment after 9/11 in NYC) because they would not agree to negotiate . Once I was employed again, I could not make the minimum payment so I offered to pay them what I could and they refused. I had to pay what they asked or go back into forbearance. Eventually, the loans ballooned to the point where they were so overwhelming I could not get out from under them. I have never been in default. I have an income sensitive payment now and I pay it monthly, but I owe more than $85,000 more than I borrowed. That is bullshit! It is killing me.
I am willing to pay back what I borrowed, but I am not willing to pay them for a ridiculous amount of interest when I had no chance to pay them back in a situation where I was desperate. If I had invested that much money at the rate of interest that they were charging me, do you think I would be worth that much now? Fuck no! These people are taking advantage of desperate people and as far as I am concerned they can all go to hell.