How a student loan can ruin your life

UPDATE: Aug 23, 2008, The deadline to pay my student loan has now past. My boyfriend sent a cashier's check to the US Dept. of Ed. three weeks ago, so now we are just waiting to hear back from them. I'm going to leave the donation link here because there still might be some generous lottery winner out there who can help me financially, so that I can someday go back to school and finish my education. When I think of the mistake I made in getting a student loan, it makes me want to cry.

UPDATE: July 27, 2008, With less than three weeks before the payment deadline, there is still no word back from the US Dept. of Ed. on my discharge request. We are planning on selling most of our stuff over the next few weeks so that we have enough money to live on after my boyfriend and I emptying our bank accounts to make the final payment on this bogus twenty year old loan. I am still working only part-time and have no health insurance. Whatever you do, don't get a student loan!

UPDATE: June 30, 2008, With six weeks to go before the payment deadline, a visitor to this web site has informed me that they were recently able to get their loan discharged by filing a False Certification form! Last week I filled out that form and submitted it to the US Dept. of Ed. I did this a few years ago, but had submitted the form to my original loan holder. I do not have a GED and should not have been allowed to receive a student loan. This is my last, best hope to get this loan discharged.

UPDATE: June 16, 2008, I am back from my trip to Texas. It looks like no one from my family is going to help me pay off this student loan. You start to realize how senseless the whole situation is when you are asking your family for help to pay off a bogus twenty year old student loan. I did receive an economic stimulus check, which will go right back to the government to pay off the loan. I also closed out my 401K, but I'm still $10,000 short with Aug. 15th fast approaching.

UPDATE: On May 22, 2008 I received a reply from the collection agency addressing several concerns that I had. I basically asked for a letter from the Dept of Ed stating that they are in agreement with the terms of the settlement. A deadline of August 15, 2008 has been set for a check to reach their payment center. My boyfriend has offered to loan me half of the amount needed and I must come up with the remaining $5650. So far, my family in Texas has not offered any financial support. My boyfriend is very disappointed that no one has stepped forward to make a donation.

UPDATE: On May 12, 2008 I received a response from the collection agency regarding my settlement request. They are willing to accept $11,300 to end this madness. That's still a lot of money, but it is less than $17,250. Now I have to either find a way to come up with eleven grand or hire a lawyer to see if this loan can be discharged. Something tells me that I would be better off paying the money and then suing the school and my ex-husband for the settlement amount.

UPDATE: On April 26, 2008 I moved back to Texas to find out if anyone in my family can help with my student loan. My boyfriend is on the verge of leaving me because he is afraid they will sue and that he will end up paying my student loan. Last year he paid over four thousand dollars when I was sued for unpaid medical bills. We just sent a letter to the collection agency asking for a lump sum settlement and documented several problems with the loan application.

UPDATE: As of April 10, 2008 the US Department of Education now claims that I owe them over $17,250. I previously thought the original principal amount was $1500, but a recent collection notice says that the original loan amount was over eight thousand. I did not receive the amount they claim and in the past three years, I have had more than six thousand dollars garnished from my pay and tax refunds. I had to quit my job at Walmart, so now I have no health insurance. The wage garnishments took so much out of my paycheck that it was not worth it for me to work there anymore. Please read my student loan story.

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