Hello, My name is James and I haven’t personally had to much issue with maintaining my student debt, but the real problem lies with my mother.
I started with $23,000 in loans and then she had to take out an additional $27,000 (if i recall correctly) herself. There was a point where we both defaulted when Sallie Mae had our loans, but since working with Navient’s IBR Plan I have been able to maintain my loan payments (more on that later) however my mother has once again defaulted on her loans. She is now in her 60s and unable to retire because of these loans.
I have always felt personally responsible for her situation and have been trying to take them on for her for a while now but no such luck with any lenders is to be found. I would need to make them my loans so I could consolidate them and begin a new IBR plan because just giving her the money for the payments is far too expensive for me. They have garnished her wages, destroyed her credit score, harassed her at work (thankfully her boss is understanding in that department) and have even called outside family members to try to get her to make payments she can in no possible way afford.
As for me, my IBR has been approved for $0.00 payments and has been that way for a few years now because I make so little income to begin with as a freelancer. I freelance because the last full-time employment opportunity I had I quickly realized that although I have a bachelor’s degree from NEIA in Brookline, MA (closed now, granted bankruptcy) I still very much lacked the education it took to perform in my career. So much so that my last employer bumped me down to an entry level job so i could learn everything over again and I could still get minimum pay for my time. Unfortunately, after three years they let me go because they were down-sizing and had no extra room for me. I survived the 1st wave of layoffs, but not the 2nd.
I have been freelancing Web Development services from home ever since, making a modest $700- $900 a month, where my girlfriend pays all the rent on her own. So although my personal loan situation is not nearly as bad as it can be (or as my mother’s is right now) I need to get these loans discharged for both of our sake, but mostly for hers, she shouldn’t be saddled with this responsibility.