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You can have YOUR FEDERAL STUDENT LOAN FORGIVEN
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[quote:Anonymous Coward 21000351:MV8yMDAzMTg5XzM0Mjc1NDk5XzQwQTBGNjM5] There needs to be a general amnesty for student loans over 20 years old. When I was 18 I was duped into going to a technical school that forced me to get loans instead of grants. Of course I did not finish the school, I was 18, married, had a baby and life overwhelmed me to the point I could no longer go to school. What started as $2000 in a loan is now $10,000 including penalties and interest. I have never paid a penny of it and I never will. It is principal. The school should give the money back for what it did to me. I was scammed and that debt is not something I believe I owe. I tried to work out a deal with the bank that loaned me the money, but they have no record of it and do not care. The collection agencies do care and they hound me fairly often. I will not pay ever. No matter what. It is principal. I do not owe them for being scammed. We need an general amnesty for loans that have not been paid on. 1987 was a long time ago. There has to be a way to get that debt done away with without paying because I would sooner die than pay them a cent. My son has went to school for 4 years now and has zero loans. He gets grants. They should have exhausted the grants before they forced me to get a loan. I went for 2 months and owe $10,000. That is not right. Old loans should be forgiven. Period. [/quote]
Original Message
If I read this right, the Obama administration will give FULL STUDENT LOAN FORGIVENESS to anyone who has made 10 years of payments.
The Student Loan Forgiveness Act of 2012
o The bill would create a new “10-10 standard” for student loan forgiveness.
If you make payments equal to 10% of your discretionary income for 10 years, your remaining federal student loan debt would be forgiven.
If you have already been making payments on your student loans, your repayment period would likely be shorter than 10 years. The amount you have already paid on your student loans over the past decade would be credited toward meeting the
requirement for forgiveness.
[
link to www.forgivestudentloandebt.com
]
[
link to www.simpletuition.com
]
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