Saturday, August 16, 2008

Student Loan Settlement

This week, after years of trying to negotiate with the US Department of Education, my girlfriend finally reached the deadline for payment of her loan settlement. We managed to scrape together the money without the help of anyone. It gave me the sense of how truly alone you are if you are in debt. Absolutely no one from her family stepped forward to help.

The most frustrating thing is that the loan should have been discharged because she did not get proper testing. A lady with a similar twenty-year-old student loan situation recently told us that she did get her loan discharged, so I suspect that my girlfriend is being punished by the Department of Education for her lack of understanding on how things like this work.

We are going to be on an extremely tight budget for the next six months trying to recover from this financial setback. I do plan on creating a video to tell her student loan story. The hope is that other people won't end up in the same situation. My advise: don't get a student loan. And, if you do have one, ask for a settlement, and do whatever it takes to pay off the loan as soon as possible.

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