Any Older Student Loan Borrowers?

Cancel Student Debt and win #CollegeForAll
#127

65 yo, still working, hopefully another 5 years.
My newest “plan” from EdVision has me paying $92/month for 15 months (which amount is about 30% higher than what Dept of Ed said I would be).

Upon the 16th month, my payment goes to $3078.46/month. Yes, three thousand seventy eight and 46 cents. Per month.

Roughly 70% of my AGI.

I am filing an age discrimination complaint against EdVision and Dept of Ed alleging a scheme to claw back social security and municipality-based retirement monies. Not to mention driving me to be unhoused, unfed, and dying decades earlier than I would if I lived in a civilized nation.

Bear in mind, my US Senator Tammy Baldwin has been of no effective help in the root cause at hand: this debt is entirely forgivable as is all student loan debt. We can pay to eliminate decades worth of debt and interest payments for 43 million citizens with either a marginal tax rate or about the same money we are spending to conduct/prepare to conduct wars in Europe and the Middle East.

I fear the tactic of undervoting in a national election, but I have advised Wisconsin Senator Tammy Baldwin’s office that I will undervote in her next election. No help for me (and 43 million voters), the no vote from me.

No sense steering now. I am quite literally 15 months away from either defaulting/garnishment or being unhoused–and still having to work.

Pretty sad little oligarchy we have here, eh?

#128

Yes, I’m 62 and have loans I took out for my daughter. She had hers forgiven because the school has many lawsuits due to fraud. I owe $107,000 and was overlooked completely

#129

Amen! I know this is an old thread but wanted to add my two cents, nevertheless, as I feel this discussion needs to be revived. I am a 54 year woman that recently obtained her BFA in Graphic Design. I have a school loan now as well. I have been applying for Graphic Design jobs now for over a year and nothing - not even a reply for an interview. If I take a full time job that is not in this industry, it will make it extremely difficult for me to continue to job hunt for the position that returned to school for. It IS a catch 22. People need to know that college is not just for the young anymore - older people are opting in for endless learning and to better the 2nd half of their lives now as well. It seems, however, a horrible thing that I should have to pay a loan back when my degree did nothing for me. If I would have known now what I knew then, would I have went back to school? And this goes much deeper, but I will keep the cultural implications and politics aside for now.

#130

Praise God to hear about that custodian at the church that helped you. I’m saddened to hear that the church turned you away. Most churches in these end of hours are NOT churches of God - most of them are all about the almighty dollar. I know this is an old post. I hope you are doing better these days. What a story you have. You are a good woman!

#131

My Student Loan repayment started in the year 2000. I was in a Doctorate Program for counseling psychology. I was not able to finish, as I got thyroid cancer, and even though I had surgery and treatment, I was never the same as far as learning. I thought about going back, but they wanted me to repeat 10 courses over (even though I finished with A, B’s. plus, they wanted 45,000 more! Now, I realize, that doesn’t even seem legal. I’ve been on the repayment plan, as I’m not working in my field, and I haven’t made much money. Wait, I forgot, I’m retired now. 69 yrs.
I think I borrowed around 80-100K, don’t remember its’ been so long ago. I now owe 375K !!!. Most of it is interest, that keeps growing.
After 25 years, I want to buy a house, yeah right! No one will give me a mortgage, even though I tell them I’m on an income-based program and now pay 0. I’m not looking for a large loan. This is so frustrating. Now, I did read some information, that if repayment began before July, of 2000, the debt will be forgiven. Regardless, it’s at the 25 mark in July of 2025. I have been calling Student Aid, and Mohela, they tell me it should be done, and I should please be patient!!!
How long do I have to be patient? If anyone knows who I can talk to, I’d appreciated it. As long as that is on my credit report, I can’t get anything. Even though I’ve tried to show proof of my plan, and also the research I’ve found about the fact, it should have been forgiven in the fall this year. My debt-to-income ratio is like a big negative!!!

#132

Agreed. I’m 69 and at 379K. Mental health counselor, never was able to get the higher degree I tried for, due to illness.
I’m trying to get just a small mortgage, and the same here., Nope.

#133

I’m 42 and owe $37,000. It’s insane with a monthly bill of $3000 for preschool for our two kids (we’re in Seattle). They also put my loans in forbearance while deciding what to do with my loans after I applied for the SAVE plan and it was blocked by a court. I’ve racked up $1000 interest in the months it’s been in forbearance.

#134

I’m at the border here. I’m 39, graduated about ten years ago. I started with $65k in debt. I now owe over $80k. While I have benefited from income-driven repayment plans, being on disability, I live in fear of the day I make enough to get off of benefits. Then, my student loan payments go up, I lose health insurance, my taxes go up, etc. It’s entirely possible to make just enough to not qualify for benefits but take home less money each month despite working ten times as hard. This actually happened to me, in a lesser form, several years back when I took a temp job with a canvassing company. Figuring out that financial gap has been a major problem in getting on my feet, apart from the usual issues of affording housing (I was effectively homeless for a year and a half), dealing with CPTSD and medical issues, etc.

#135

As you are on SS disability you should have automatically qualified for a disability discharge of your loans. That was one thing Biden a ciyoke if tears agi.

Call the Federal Student Financial aid office and ask about that. Also call NetNet DISABILITY (not their regular website) as they are handling these things, Their website is down for “redesign/streamlining the process”.

Here is info
https://studentaid.gov/manage-loans/forgiveness-cancellation/disability-discharge

Federal student financial aid number : 1-800-433-3243 ( you will likely need to ask them what the disability number is).

From google since the nelnet site is down, their number is:
For assistance with federal student loan disability discharge, you can call the U.S. Department of Education’s Nelnet Total and Permanent Disability Servicer at 1-888-303-7818 or visit DisabilityDischarge.com (this is the site that is down but go there so you can see what they say in case they update it).
Phone Number: 1-888-303-7818