Student Loan Debt Slaves In Perpetuity - A True Story Of "Bankruptcy Hell"

[FirstLight]

2. I was just having this conversation about Debt Forgiveness

...it's such a scam, Student Loan debt is the worst...and you can't shake it. I even called the DOE Years ago when i finally got FREE from my abusive marriage, and told them the ONLY reason I'd gone into default was basically being held prisoner in my own house, not to mention NO access to finances...There were NO ways to get back to deferment, no options - no bills protecting victims of extenuating circumstances - other than to cough up ALL the Interest from those lost years, and only THEN would they even negotiate...

needless to say I have been in default for 8 years now - I can;t even afford to pay my rent without assistance...so ya, student loan is last on MY list...fuckers.

What's worse, is that the ORIGINAL loan amt was 12K, and I took them during my early college years as a single mom, and was told more than once by the College..."don't worry, by the time you get your degree, the payments will be just a fraction of your income." Ya, this was also during the Clinton Admin, when the economy was booming and everyone thought it was always going to be so grand...

I dunno, I have a hard time hearing from people that it's MY debt and i should have to pay it back...well i actually used that loan to BUY an EDUCATION and that was supposed to help me get a better JOB too...
It's hard to explain and discuss this with those who have the hard line of - "If you don't like it, you shouldn't have signed... Because the loan officers at school are there to SELL you, and when you are in your early 20's and someone is offering you a big check, and you THINK you are going to graduate and have a REAL job...well, that Loan isn't such a burden. Add some years of hardship, maybe a decade total... and that "offer" looks very different. How many kids know what the terms even mean? And why aren't there more opportunities for negotiating the payments or getting out of default?
I swear, if I could actually send them $25 a month or so to show them good faith, I WOULD - but they either want the full payment each month of $360 or more...or a bulk payment of the interest. When the Loan Holders begin holding such a hard line, and defaults, etc. go UP...maybe that means they are being a bit unreasonable? Probably no better than the banks and foreclosures...