Saturday, August 19, 2017

Stories of Debt

   I was able to find a blog that allows many people share their stories about student loan debt.  The blog is known as the Student Debt Crisis.  I will share some of these stories to show just how real the student debt situation is.  I will be providing a edited version of these stories to spike your interest.  The link to find these stories can be found above.  Let us begin.
Date: August 13, 2017: Name: Jackie; Location: Cheshire;
   Due to her infertility, Jackie made the decision to pursue a Masters of Arts degree.  She took out a 120k loan and finished in 3 years.  She then continued to teach back home to stay on the forgiveness program.  The forgiveness program allows people with student loan debt to be forgiven as long as they work 10 years in the mandatory field (Teacher, government, etc).  Just before graduation she had a miracle pregnancy.  Knowing that she would never be able to afford a $835 monthly fee she came in contact with a company known as the Student Loan Project.  Their promise was to consolidate her loans reduce it to a $550 upfront charge and only have her pay near $48 a month for them to file her claim.  In my personal opinion that sounds like a full on scam.  To get it that low would be near impossible.  It turns out it was a scam.  After getting off the $48 paper work bill she got hit with a $815 payment.  While investigating she found out that the company lied in their contract.  Her name was under her nickname, they had the wrong email address, and they said that she had 4 dependents.  Due to her trust in Student Loan Project and their scam she is now looking to be homeless.
    This story is just one of hundreds on the Student Debt Crisis website.  And out of all the stories that are floating out there I believe I only encountered one positive story.  There rest were filled with tragedy, ignorance, mistakes, and they all have debt.  And from the knowledge of the government trying to abolish the Student Loan Forgiveness program makes the future seem bleaker than ever.  We are all struggling to get out of this mess, and that last bit of hope we have is about to be taken away.  Until next time...  
 

   

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