Getting Out of Student Loan Debt

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Personally, I think the best option is to escape to Antarctica or commit suicide. I wish someone had explained to me earlier that college is a complete waste of time, and will ensure your debt burden remains unbearable for the rest of your life. I never would have gone.

ij of FL 7:17PM August 21, 2009

You cannot discharge a student loan and especially a loan with Sallie Mae. Sallie Mae financed many politicians in Washington and it is even legal for Sallie Mae to go into your bank account and just take the money. They did it to me without my knowledge and once I threatened to go to the media, they settled the matter, but did not return the money that they just withdrew. Two years ago the CEO of Sallie Mae was given a 300 million dollar bonus.
I don't know what the answer is...other than a coordinated grass roots movement to correct this student loan scandle.

Jan-Michelle Sawyer of CA 2:25PM August 19, 2009

I have seen a few different people who are in situations like myself. I have about 40k of debt from Sallie Mae from ITT Tech.
I was told the whole time these were a certain rate which was a lie. I found years later they were variable and skyrocketed to rates higher than my credit cards. I flat out told them I'm not paying a cent at that interest rate.
I got the letter saying I'm being charged off. ITT tech was a EFFING JOKE and its crap they have no liability after sucking kids dry for a sub par education.
Hell as an IT guy I am smart enough to tell when a programmer is trying to teach Network Administration.
This is bull.

Ryan of OH 2:50PM August 17, 2009

years ago I went to a school to be eye tech. assit. Halfway through the class the insttructor disappeared. The school offered to cut my what I owed in half. I said no that I should owe nothing. Anyway thought every thing ways taken care of, then 10 years later my loan was bought by oklahoima guaranted student loan program and had grown to over 15000.00. Asked to be heard by a judge - who sided with ogslg and the fees were added on and the loan is now at 22000.00. I can't pay this. They are accepting 20.00 a month and all the interest keepos on building. BEWARE EVRYONE OF THESES SCHOOLS THAT ADVERTISE!!

KENNETH BROM of TX 3:38PM August 12, 2009

I AM WELL OVER 200,000 AND COUNTING ON STUDENT LOAN DEBT !!
i AM NOT SURE HOW i GOT MYSEL FIN THIS MESS ALL i KNOW IS i HAVE BEEN LIVING A NIGHTMARE SINCE THEN .. i AM STILL ATTENDING SCHOOL FOR OVER TEN YEARS JUST TO KEEP THE PAYMENTS FROM COMING AND i AM STILL ABOUT THREE CLASSES FROM GRADUATION. i FEEL LIKE i HAVE LET EVERYONE IN MY LIFE DOWN AND NOONE IN MY FAMILY KNOWS i HAVE CREATED SO MUCH DEBT. i AM NOT SURE EVEN HOW TO TELL THEM WITHOUT BEING JUDGED. i DONT HAVE A DISABLITY SO i KNOW THAT i WILL HAVE TO EVENTUALLY PAY THIS AND BECAUSE MY DEGREE IS IN PSYCHOLOGY AND IT IS A BA i AM REALLY NOT GOING TO BE ABLE TO DO MUCH WITH IT. i WENT INTO THIS WHOLE EDUCATION THING THINKING IT WOULD BE THE ANSWER TO GETTING AHEAD AN NOW i AM MORE BEHIND THEN EVER. ANY IDEAS WOULD BE HELPFUL.

KAY of NJ 12:23AM August 11, 2009

I am only in debt about 8,000 dollars. But I can not go back to school because I am not able to pay this at all. I am losing my home my husband is unemployed and I can not find even a restraunt job. I have three children and I am scared to death. i went to a school that was a joke. And now i am not able to pay back the money I borrowed in order to go back to school and get a better education so I can at least have a career and not a stupid medical assisting degree not even a degree because I am also not certified.I wish these places would for give students and help them out. We bailed out the banks with our tax dollars why can they not bail us out???? Damn greedy america what ever happend to helping the week and poor. This country has become something so different than what it was founded for. I really hope it turns around

Jen of MI 5:26PM July 23, 2009

My student loan is at 102,000.00, have 2 kids in college, mortgage payment etc I am scared to my bones just don't know the way out.
NEED HELP!!!!!!!!!!!!!!!!!!

epudom of GA 6:40PM July 21, 2009

These student loans cripple some in society. Some people are dealing with emotional issues that cause enough stress factors in thier life as it is and it is all they can do to cope from day to day. Student loans with endless interest and fees and penalties seems almost unconsitutional.

Paula Angelique Hafner of DC 6:53PM June 28, 2009

Since 2004 I have been paying 150 dollars towards interest and interest only. Every 2 years my normal payment will increase which next time when I'm out of forbearance will be almost 400 a month from the 275 I would of had to paid if I could have afforded it fresh out of college. For 5 years my balance has stayed at 50,000. The only way to get rid of these is to take out a loan on your house, pay the crap off, sell the house. Otherwise I think I will die with 50K still owed. Life here in America is about ripping people off, making more inbreed babies, raping the young. This place isn't about the people its about how much money can we make off this number(person). It's sad really. You would think the coutry would want intelligent people so they can make more money off of them. I plan to die with my student loans. get it from me then aholes.

ticked off of GA 2:12PM June 25, 2009

After getting into $42,000 in debt, which is now $60,000 from interest over the last 5 years, I had no choice but to go back to driving a truck. The best I could find in New York City, where I live was a $24,000-$26,000 per year entry level position with my Psychology degree. Basically a Social Worker! Don't get me wrong, there's nothing wrong with being a Social Worker (if you don't mind being an abuse pillow for this city's wretched and insane), but I can make more than that driving a truck.
My CDL License cost less than $1,000 to get and if you get into a good Teamsters (Union) job, you can make as much as 50-60 thousand in your first year. But I guess it all depends on what color you prefer your shirts to be.
Other than finding a career in the Blue Collar industry or Law Enforcement (which many require 2 years of college), Correction Officers can make over $100,000, I agree with the guy who said "MOVE"!
Move out of America and save yourself! Go to Canada where health care is free and in many cases, so is education!!
Good Luck!

Michelle Barberi of NY 11:20AM June 24, 2009