Hall of Famer
Oct 4, 2003
If a person can't pay, they can't pay. Tacking on outrageous fees and penalties won't solve anything. At least lower the interest to 2-3% for Pete's sake.

Name: Catherine
State: --

I am 70 years old, on Social Security, live by myself and have no other income. For 24 years I have been paying on my student loans. I have requested multiple times to have my loans consolidated. Every time I’ve been told this has been done, I get another request from some other lender claiming that I also owe them. I attended a local university and only have an Associates Degree. Now I’ve been told that the interest alone on my loan is $60 per day. How in the hell is that possible.
My loan has been mishandled and I’m sure amounts have been duplicated over and over again by one lender selling and reselling various loans. They are now withholding $165 per month from my SS check which leaves me with around $900 a month to live on. Could any of you live on that? No one has been able to help on this situation.