How much are we responsible for our loans?

Here is another article that popped up today. http://www.themainewire.com/2012/05/op-ed-student-loan-debt-%E2%80%93-it%E2%80%99s-governments-fault/

Now this person is saying we are responsible for our loans. Yes to a point I do agree with them. Because really no one twisted my arm to sign those papers. I also was under the illusion that I was going to finish school, get a job and be able to pay for those loans too.

If I was informed of the situation before it was too late I would of made different decisions. But that is not what happen. Also I had 10 classes or so transfer to that school as well. So my tuition would of been less or so I thought. If someone told me my education would have cost me 60,000 dollars out of my pocket I might of thought twice about doing what I did. All I did was talk to a recruiter, took a online tour of the online school. I knew I could get grants for the most part, but went through those as well. Just renewed my financial aid each year and then forgot about it because I was too busy trying to make good grades in my classes, work and take care of my family. Am I at fault?  I am not sure because many people are in the same exact boat I am in and having the same problems I am and its seems to be an issue for a whole lot of people who wanted to better their lives just like me and was told they could do it online, save time and money and get a degree. Only it did not happen that way. Its not like I did not make good grades either. Mostly A's and B's and once in a great while a C. Not often. So who is to blame? What is to be done?

I do know this has affected my family, my retirement, my home, and everything concerning money in my life. Its all we think about all that is on our minds and what we fight about the most. A mistake that is costing me so much more than what that degree will ever be worth in my lifetime.

So yes I am to blame, its my mistake, I own this fully. But I am not going to lie and hope that there will be a solution to this criss's also. This did not happen over night and this did not happen to just a few people who should've known better. This happen to millions of people.  Just like the housing market. People was told they could afford those homes on their income. Only to find out that interest rates went up, they could no longer afford the homes, no one was buying the homes and people was kicked out of their homes, and those houses went empty and it took a long time for many of those people to get back on their feet again.

What is the solution??  I dont know. I wish I would wake up and find that this never happen in the first place and that we can move on in our lives. That is what I want. But its a reality and here we are. Could be its not the government that should bail us out. I know I am do not have time to wait around for that to happen. I am going to take responsibility and start to pay back my loans. Any way I can think of for now.

Something to think about.

I came across this article. In short it tells you to budget, do a debt reduction plan to get out of debt. I know easier said then done. But it can be done if you work hard enough. The hard part is getting started. Think about that.

http://www.dailyfinance.com/2014/05/05/how-to-pay-off-student-debt/#!slide=2128995

The debt collector that works with Sallie Mae.

I had this outfit calling me. American Education Loan Science? They are affiliated with the Art Institute and Sallie Mae. In truth I never called them back because I never recalled signing up for them or I thought it was a scammer from the Art Institute to get me to go back or what ever. I answered the phone yesterday and ended up talking to these people. They are a collection agency. In which I was a bit confused because I just talked to Sallie Mae last week and made arrangements directly with them because I am unemployed.  I guess this 3rd party did not get the message. I looked them up and got a headache and came to the conclusion they are working with Sallie Mae and the Art Institute to collect debt or help or what ever.

What happen is that the person asked if they can call Sallie Mae and ask them if I made these  arrangements and we will talk. OK fine because I did nothing wrong. The person from Sallie Mae. Joe I think was his name got on the phone. I asked how this Loan Science and Sallie Mae are affiliated with each other. He had no clue. hmmm. So I said Ok what can you do for me? The records did not show I talked to them about a forbarrence. Yep it figures. But this Loan Science could set up and unemployment forbearance for me so that I do not loose my other forbearance time just incase I needed it down the road.  Sounds good to me so I said OK. So we will see what happens from here.

I will have to call back once I am back at work and work out a payment arrangement. I have decided that even the IBR was too much for me to handle right now. See if for at least a year I can make smaller payments. It all goes to interest anyways and not the principal. I'll be dead once this is paid off. Unless I stick to my guns and continue on my get out of debt plan that I am working on. In time we will see what happens. One thing at a time here.

What I do not understand is that if there is all these ways to help you with your student loans, get around the times that you are not working, lower your payments when are you and all that jazz. Why can't they just say pay 50.00- 100.00 a month on these loans until the end of time and in so many years it will be forgiven. Sorry you did not get your degree, or that job you was working hard to get but there is no jobs in your area or anywhere for that matter. But hey for all your hard work we will forgive the loans in 25 years if you make regular payments.

Really this situation is two sided. I decided to go back to school for something I always wanted to learn about. But I was not prepared not to graduate for one, have 60,000 in student loans that suddenly appeared. Truth be told it kind of happen that way for me. It did not sink in what was happening. What would've been helpful is the financial aid advisor would of said something at about 25,000 to warn me that I was 1/2 way though my money and would not have enough loan to finish school. I would  then made some better decisions on my part at that time. But the classes are 5 1/2 weeks long and go by fast and before you know it 4 years have past and working a full time job, taking care of your family and school is  part time yea things do not look at clear after a while. Boy do they look clear now. 10 classes and I would of been done. That would've been another 10,000 dollars I really really do not have. So here I am getting another education I did not ask for. Figuring out who is who and what is a debt collector and what they have to do with other ways to help me and what they have to do with the two thorns in my side called Pittsburgh Art Institute and Sallie Mae. More to come I am sure if I want to sort this all out at any time.  Until then life goes on. Its summer and I"m cleaning out my house, got ebay up and going, and I am trying to decide what color to paint my kitchen and redo my cabinets and counter tops. All done as frugal as I can manage. But I can not see letting things around me go back because of this thing. Sure the money I'll put into my kitchen. Under 200.00 or even 100.00 depending on what I decide to do.  Yes that money could go toward my debt. But really what good is it going to do me. I have to live my life still. I'm paying down my debt slowly. I have a plan in place. Life still goes on and I will not make things stop because of this. I just have to stick it in there somewhere and deal with it.  Other wise this huge student loan debt will make me crazy and depressed. I can not do that to myself or my family.

I'm living with this. That is all I can do.

New Article in the Pittsburgh Post Gazette

http://www.post-gazette.com/local/city/2014/06/18/Two-whistleblowers-allowed-to-continue-in-lawsuit-against-Downtown-for-profit-educator/stories/201406180206

I'm not sure what this means for us who went to the Art Institute right now. At least someone is keeping it fresh in the news.

I keep watching for a class action suit to open for us. I would sign up for it.

For now I just keep plugging along. My latest update is that since I am not working my Sallie Mae loans are in forbearance. :( I'm not really happy about it but I would put myself further behind if I did not. Now to just make a few payments this summer to keep things up to date I guess.

I do have 2 loans with American Education? PNC personal loans. Those I am seeing some progress in the amount going lower. Its not much but at least something is happening there. I will continue to make those payments since those are less than the huge government loans.

I have started my ebay selling. Not so much a business but more like an online garage sale right now. When I make over 20.00 or more I send it into a bill that I owe on. This in addition to the monthly payment. I'm working on one bill now. Hope to get that caught up here in a month or so. Then onto the next one. Getting behind has not helped the situation any. So my goal is to catch up everyone and pay off bills by the end of the year. :)

Looking around my house I realize that it has been in a state of a mess and clutter for way too long. So I am cleaning out! I have to say it is a good exercise to see what you need and do not need. And having less clutter feels better also. I wonder how I can not focus on stuff much. Its because I live in a state of clutter and mess. Who can think that way. So stuff has been flying out the door.

Its not a perfect system here. I am doing what I can how ever I can to get out of this financial mess we are in. Life it too short to wallow in it. There is a whole lot of livin to do and having this student loan mess decide how I live my life will not do.

I think there is hope in the future that this may somehow become resolved for us who went to this school and got into this mess because we made a decision to better our lives. But now that I look back my life was not so bad to begin with. I wish I would of realized that then. But I went after a dream. It was just not the dream I was suppose to go after.

The dreaded collection calls and the people on the other end of the phone.

The Art Institue just called. I did not realize I had somehow stopped my payments. hmm I set it up though my bank to automatically send out payments for some of my bills. The Art Institute being one of them. Back in Feb I must of needed money for heating oil and thought I stopped one payment when I really stopped the whole series. hmm. So now they tell me. uggg. So I get this girl on the phone who is so nicely asking me what I can send. I tell her. Lo AND BEHOLD it not enough!! Really?? uggg. So if I can send more they can offer me a discount! Ok sounds nice lady and if I could I would and if I could I would pay off the whole thing today so I can not talk to you people ever again!!! Then she wants to have me do an "easy" over the phone payment, me giving them my checking account information so they can "easily" get my payment. Aaaaa no I do not give out my checking account information. I asked the girl does she give out her checking account information over the phone?? Silence and tried to get me to move forward. Then I got pissy. She quickly ended the phone conversation and told me to have a nice day. I told her to have one too and hung up.

The day was going along very nicely until then. Nothing like answering the phone when I knew I should not of. Need to turn the ringers back to one or two. Yep I think that is what I will do and move ahead with my life.

Payments are scheduled to go out again. Hope they are happy. I know I will be when I get a final bill of Zero!! It can not happen soon enough I think.

Happy days.

What about the other debt??

I know we all got into this student debt mess. You know going back to school in order to improve our lives right. And here we are in debt and who knows if it will ever go away.

What about your other debt?? Do you have any?? I do and since right now the amount of my student loans is so overwhelming I decided that I am going to focus on my other debt first. First of all its much smaller and easier to look at and plan than the big old Sallie Mae bill. Second its easier to pay off smaller bills than the bigger ones. And right now I need a sense of accomplishment so that I can move forward here in life. With or without Sallie Mae on my ass end of life.

I have been thinking and praying about what to do about a second job, other income, some what to make extra money. I said before I am learning Ebay. And so far so good. I'm not making huge money but I somehow managed to make about 100.00 extra a month. Hope to kick it up some this summer. Anyways I will be on the look out to make extra income on top of my job. Fun right?? No. But that is life at times.

I was thinking since I do get a little here and there on Ebay I have a few options of what to do with that money. And if it sits and I try to wait for it to build up I know that I will find reason to spend it. Let it be something comes up or what ever. So I thought knowing myself and I"m not perfect and I know I should wait until the end of the month but well I'm not wired to handle such things at times. I thought to myself. What if I just take once a week and any money made I'll send it to an outstanding bill. Let it be 5.00 or 100. Then I made a list of past due amounts. Got those suckers on paper to see what I am looking at. And well you know some are not that bad. And 5.00 or 20.00 or 100.00 in a week makes a dent in something that is 100.00 past due, or 100.00 due to be paid off. Or even 500.00 due to be paid off. By the end of the year those little payments add up and well if I figure this out right I can have a few bills paid up or even paid off!

One will be a car payment. That is 100.00 a month I get back! If I pay that loan off early I'll get that 100.00 sooner. And guess what! That is 100.00 toward another bill, and then that payment is gone and so on and so forth and it makes sense right. Yes. But well lets get back to reality for just a moment. There will be times I'll have to make changes, things come up and I will need to use that money for something else. Stuff breaks, houses need repair, cars break down, dr bills and who knows. So this is a short term plan to begin with. I'm starting this for a month and I'll see how it will work. Baby steps in the bigger plan to take back my life from Sallie Mae.

Always thinking always planning always figuring out something better to move ahead. Get back my life.

Changes in Sallie Mae that you may need to know

Here is a little article on what Sallie Mae is up to now. Seems as if they do other things other than Student loans. I knew that. So they are splitting the company. Basically if you have a loan with Sallie mae your information will have the new name of the company on it instead of Sallie Mae.

No they  are not doing anything to make things any easier or better for us. But we can always still hope for something like that. lol.

Here is the link Enjoy. http://www.bostonstudentloanlawyer.com/index_files/5-6-14.html