Monday, November 15, 2010

More from Alan Collinge...

"This is the type of greed, and excess that we enable with the predatory loans forced upon us.

We have crossed a threshold, folks. Where yesterday you were ashamed, intimidated, and overwhelmed, tomorrow you should be angry, assertive, and demanding. These are your loans, and only by you understanding exactly what is going on will you transition from passive to active on this issue. Trust me, you will certainly wonder, in hindsight, why you laid low for so long. Doing so only enriches and emboldens the predators who have seized control of this lending system."

Forget being a doctor or a lawyer, this article makes the life of a university president rival Beverly Hills. Kind of explains the recurring hikes in tuition...

A message from Alan Collinge

Already, moves are underway to continue the theft from the student loan system using people holding themselves out as student advocates, when in fact they are nothing of the sort. The College Board (The entity that administers the SAT) is going to bat against the students on this particular attempt. The target is the "in-school" subsidy.

Ask why the College Board would even care about this issue. I have not a clue...I've never looked really hard at the organization, I only know that they were actually selling student loans for a time, and would still be were it not for public outcry, and some legal issues. I do know that these sorts of actions nearly always coupled with funding requests/ political appointments/ etc.

This is a good research project for someone...

Wednesday, November 10, 2010

News and Etc

I recently found out that Alan Collinge will be closing down the Student Loan Justice Facebook group. The idea behind it would have been amazing, but sadly, Facebook is not the place to organize such a cause.
He will continue the Student Loan Justice website.

Collinge did post this link through the Facebook page, therefore, I too will pass this on. It's worth a shot.

There is also a worthwhile discussion here.


I would like to issue an apology to Cryn Johannsen for a previous post, it is a misunderstanding in the heat of a moment and I did not intend to direct anything towards her. I thank her for her work and continue to thank her for her future work.

And finally, while at a local bookstore, I was able to glance at Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents. It seems like a very vital book for any new college hopeful and a guide to avoid the student loan nightmare. I just wish this book had come out years ago. To paraphrase a quote, it went something along the lines of, "Those who understand compound debt will profit from it, while those who do not will be destined to pay it." How true. Sad. But true.

Sunday, October 31, 2010

When our government works for corporations and NOT it's citizens...

I came across yet another horror story, as a guy just wanted to follow his dream of working in, he has an Air Force officer telling him to stop applying for meteor0logy work...

This story, as well as the comments by readers, sickens me...and I ask when did our government sell out its citizens?

You can call me naive, I guess I had been, years ago. And I know capitalism is nowhere near perfect, nor was it meant to be and that society has had its poor and homeless going back to Ancient Rome...but this is just sick. I find this worse than those house swindlers who con people out of their homes. I just don't get it how our government has let Sallie Mae get away with this.
I know the logical answer is bribes and kickbacks...but the question still remains to how?
And more importantly, why?
Does keeping people in debt help this country?
I want to ask the real estate agent who can't sell any homes...
I want to ask the car dealer who can't move cars off the lot...
I want to ask the salespeople who can't barely sell their products...
I want to ask the restaurant owner who sees nothing but empty tables...
I want to ask every business owner who had to close up shop for good...
Does keeping people in debt help this country?

And what is with the harsh penalties and denial of job fields? Meteorology sounds like a high paying field, one where this guy could easily pay off the loans (minus any other factors), so why the hell would you deny him of that? Just to add the default rate and watch the penalty fees rack up? That's great, it can balloon to an Argentina sized debt and guess what? You're STILL NOT GONNA SEE THAT MONEY!!!
That's just one thing I don't get. The guy could have 4 jobs and still never repay off half of the debt. And he's just an example out of countless more.
I'll level with you, I can reason with adding penalty fees and late fees, but where is the justification in blocking job fields?
And revoking medical licenses? It's getting to the point where it's not worth it to be a doctor. Which is pretty much saying it's not worth it to learn how to save lives and treat diseases.

I know our government is not perfect, and right now, pretty far from it. And I know that capitalism is geared towards the rich, that there will always be poor people at street corners, that every Joe the Plummer, will always bust his hump, trying to put food on the table...I know this country and the world will never be a utopia.
And I can live knowing I'll never have a 50-inch screen tv, a Playstation, a Blackberry, a Chevy Corvette, a home in Malibu...I can live without luxury easily.
And I can live with penalties and late fees, my hospital bills are evidence to that...
But to live knowing that I'm being blackballed from any successful know that I'll never be the guy who watches his bride walk down the know that I can never properly provide for a know that I'll never have a chance to be a have that feeling of watching his children grow up and go out into the world...

I'll admit, I too feel like just giving up...and I can't promise that day will never come home...I only live now, just running on hope and fueled by anger. Sallie Mae wants me to be ashamed of what I've done to myself...well, the time of embarrassment is over...I'm here to just spread the word, tell my story, tell other stories and try to steer as many people away from this path as I can.

And should that dreadful day come where I have absolutely no options left...I'm going to take a final trip to Muncie, Indiana...I know their call center is in the vicinity of Ball State University...I'll drive there...and I'll wait outside their front door...for once, I want them to see the face of what they've created...and I want to see the faces of the people who have hounded me.

But until then, I'll be here. Just...doing what my ancestors did in the past.

Survive. And Fight.

Wednesday, October 27, 2010

The many phone numbers of Sallie Mae

I know I posted this last year, but I'll post it again.

The many phone bashers of Sallie Mae use the following numbers:
317-595-1440 (Fishers, Indiana)
213-700-6433 (Cell phone out of Los Angeles, CA!)
765-283-3176 (Muncie, Indiana)
765-283-3020 (Muncie, Indiana)

Student Loans and Suicide

I found an article. The opposition has the nerve to say that suicide cases with student loan debtors are personal and they should seek help. Here's the thing that separates student loans from most crisis...

Losing a home to foreclosure? Sucks to lose a home, and it sucks to move in with family...but move...find a new place to live.

Divorce or break-up? A broken heart and wounded soul are bad, but life goes on. It always does.

Credit card debt? Learn to live within your means and declare bankruptcy. In 7 years, you'll have a clean slate and hopefully, a better sense of spending habits.

Student Loans...there is no escape. NO ESCAPE. Sure, the attitude for a new burrower in college is, "I'll pay it back." But life never goes according to plan, you can lose your career, you can lose everything you own, you can find yourself barely scraping by...and Sallie Mae will always go, "Where's our money?"
I lost a lot during the start of the Recession, I was unfortunately evicted and even on my way out of my home, Sallie Mae kept hounding me for their payment. It is then I realized just how cruel this company is. Then I read other horror stories. You lose your world and Sallie Mae still comes to finish what's left. And with that Parent PLUS Loan, where parents co-sign, that's just a fancy way of Sallie Mae taking your family hostage. Even if you die by any means, they'll still go on to collect money.

And the opposition says it's personal. Growing up, I've always been told there will always be light at the end of the tunnel, that when life closes a door, another one opens...and in most cases, that's true.

With Sallie Mae and with Student Loan Debt...there is no light. There are no more doors. I cannot go in my life because of this shackle. I want to give back to this world so much, but I can't. Instead, I live in the shadows and off the grid. I can't have Myspace or a Facebook anymore. I haven't filled out a forwarding address at the post office in years. I'm afraid to update the address on my driver's license in fear that I'll be found. I'll admit, I'm barely hanging on...and I'm hiding. I feel like I'm living like a criminal just because I had a dream of going to college.
I'd give anything to just have a foreclosure or credit card debt and just have that as my biggest problem.
Let me restate what I said earlier...NO ESCAPE. How can the average debtor not think about ending it all?

I'm sick of this though. Why does Sallie Mae get to hold all of the cards and continue to screw the youth of America.

Any opposition out there who dares to call me a slacker, a deadbeat, a crybaby...You all better pray that the Credit Card corporations do not get this kind of unlimited authority that Sallie Mae has...because I do not wish this inescapable debt on anyone.

Other than that...join the fight.

Monday, October 4, 2010

Father loses his home under tidal wave of student loan debt

He was just trying to be a good dad and send his four children off to college, so he co-signed their student loans. And now, he and his wife have lost their jobs and you can read the rest of this real life horror story here

Once you read the article, there is a possible light at the end of the tunnel, but only if you help make it happen. Join Student Loan Justice and find out how to make Consumer Protection Rights against student loans a reality.

Friday, August 27, 2010

20 Year-old goes to college w/o loans, scholarships or parents help

A remarkable 20 year-old, Zac Bissonnett, has successfully found a solution to attend college without applying for student loans, scholarships or asking his parents for help. How? Just order the book and find out.
Or, get this book for any future college hopefuls you know in your life.
Bissonett also gives out advice, on how middle class families must avoid student loans, why not to use Top College rankings to find a college and how the name of the university on your diploma will not gurauntee you a job.

I wish I had books like these back when I was looking for college. Unfortunately, I went online and used the top college lists and foolishy chose an expensive private school. Don't make the same mistake I did, folks. Get this book and take your first step in knowing the truth of the American educational system and how to avoid the devastating pitfalls.

Scary reality, student loan debt is higher than credit card debt

As the article states, in what wasn't expected until a few more years, it appears that the amount of student loan debt is higher than credit card debt. And unless immediate action is taken now, this problem would only increase to hazardous levels in the future. Especially with rising tuition rates.

If you're one of those affected by student loan debt, please go here for guidance

Monday, August 16, 2010

A lesson too late

Bad's something they don't teach very well in school, but it's something that many of us will unfortunately encounter. The rules are simple, it's the penalties that are the real complication. Through use of credit, you buy now and pay later. It sounds fantastic, even to little Stephanie Tanner on Full House.
But no one ever went into depth the importance of keeping a good credit score, or even what a credit score was. Had someone in high school told me, aside from college and career, keep your credit rating high, strive for that 720, I would have protected myself much better. I wish more adults had warned me back in the day instead of ignoring the obvious elephant in everyone's living room.
Keep a good credit rating, and you can accomplish that dream of owning a house, or a car, or getting affordable insurance and most of all, never have to hear from a debt collector from NCO or any other cannibalistic debt collector.
And now, jobs and companies, when hiring, are running credit checks. Which, I guess on their side, is somewhat understandable. But to me, here is what I don't quite get.
It's easy to run into bad credit. Take out a Sallie Mae student loan and find out just how easy it is to get into bad credit. But not all people who have bad credit are slackers. They're not all deadbeats, skipping the bills left and right. Many are good honest people who just made bad decisions in life. Now, with companies doing credit checks, the hopes of many who want to slowly crawl out of the pit of bad debt, are being buried under more dirt.
How wrong is that? People want to work off their debt anyway they can, and now, are being denied the one possible job that could get them there.
Or are the companies allied with whoever runs this bad credit scam, keeping millions in debt and jacking up the penalty fees? Seriously, does bad credit help this economy? Or are Sallie Mae, NCO and Visa going to tap dance their fat asses about as the United States of America becomes another Argentina?

Thursday, June 10, 2010

Be Debt Savvy?

Sallie Mae has this site...


It's really funny because the 11th tip should be "Don't take out a private loan from us."

When selecting a high education, remember, there is no easy route!

Don't think that "hands on" schools like Everest or private schools that "cater" to specialized fields will get you closer to your degree.
And always take out federal loans...never EVER take out private loans, especially from Sallie Mae.
If anything, start with community college, and from there, you'll be able to transfer into a state school.

Use this site to get a better feel for your school: