- 1 $180k+ in Student Loan Debt, I'm Drowning!
- 2 U.S. Marshals Service Sending SWAT Teams Out to Arrest People for Unpaid Student Loans
- 3 New Evidence Reveals Comey Drafted Statement Exonerating Hillary Before Key Witness Interviews
- 4 Why Wages Have Lost Ground in the 21st Century
- 5 Landmark Study: Pesticides Linked to Birth Defects (Video)
- 6 ‘Drive By Shooting’: Cop Deploys Taser from Car Window at Boy on ATV—Killing Him
- 7 The World Chooses Sides: The US Dropped Bombs at the North Korean Border
- 8 Dramatic Moment Car Looks Set to RAM Trump’s Motorcade as It Flies out of Nearby Woods After the Brakes Failed
- 9 SHOCKER: Evergreen State Faces $2.1 MILLION Budget Crisis After Radical Students Go Berserk
- 10 Two Explosions Reported At Arkema Chemical Plant In Texas
- 11 Rothschild Just Dumped Massive Amounts of US Assets, Sending an Ominous Signal
- 12 Attorney General Jeff Sessions’ New Drug War Strategy
- 13 Illinois to Create Gender Price Control Inspectors in Name of “Equality”
- 14 Where’d My Leg Go? Ground Swallows up Brooklyn Walker (VIDEO)
- 15 Televangelist: Christians Will Start A Civil War If Trump Is Impeached
- 16 Manage and Repay Student Loans
- 16.1 Repayment of Your Student Loans: What to Expect
- 16.2 How to Manage your Student Loans
- 17 Never take a student loan — failure to pay may result with arrest
$180k+ in Student Loan Debt, I'm Drowning!
Student Loans $1500 (minimum)
Thanks for posting. You've listed your expense situation. What about the income side? It's hard to have a full picture without the other half! I'll reserve comments on suggested cuts till seeing the income part of the picture
You might want to cut the phone bill and start saving for YOUR kid's tuition bill, so you won't be an extremely selfish parent and make them take out a bunch of loans for over-priced tuition.
edited to add OP quote.
2. You need to address income stream. Look for higher-paying positions. Work yourself into the ground to reduce this loan. Yes, family time suffers, but money problems kill marriages too.
3. Your wife needs to monetize being a SAHM. Some job that can be home-based. Running an unofficial daycare maybe? Signing up for credit card/bank account rewards?
4. Invest in effective birth control.
5. Find some 0% balance transfer cards to curb the bleeding, but continue to pay the loans down as aggressively as possible.
U.S. Marshals Service Sending SWAT Teams Out to Arrest People for Unpaid Student Loans
Houston, TX – In what could be a story straight out of the Onion, but sadly played out in reality, a Texas man was arrested by seven heavily armed U.S. Marshals for failing to pay an almost 30-year-old student loan debt.
The man, Paul Aker, 48, said he was caught off-guard by the heavily armed agents that showed up at his home to arrest him for failing to pay the nearly 3-decades old debt.
“They grabbed me, they threw me down,” Aker told the Daily News on Tuesday. “Local PD is just standing there.”
He said he noticied a suspicious truck in front of his house on Thursday morning, and when someone approached, he ran back into the house. Later that morning, a bunch of armed Marshals with combat weapons showed up at his door.
“I say, ‘What is this all about?'” Aker told The News. “They say, ‘Shut up, you know what this is all about.’ I don’t have a clue.”
When Aker continued to ask, they continued to say “you know what this is all about,” he said.
Eventually he was told it was about a 30-year-old student loan.
“You could have sent me a letter. You could have called me,” Aker said.
The U.S. Marshals said later in court that they had the firepower because Aker had a gun, but he disputes that.
“But you were already at my door,” he said. “It was because they knew I was a registered gun owner.
“It’s out of control. Out of control,” he continued. What if they had seen a gun on me? They would have shot me for 1,500 bucks.”
Aker’s arrest for a 30-year-old, $1,500 dollar debt is disturbing enough; but taken in concert with the fact that simply being an owner of a firearm, a protected right under the U.S. Constitution, was reason enough for agents to arrive in combat gear and with fully automatic weapons raises the ominous specter of the police state rising.
After being arrested, Aker was held at the federal building in downtown Houston, before being brought to a courtroom, where a “prosecutor,” judge and county clerk were present, according to the NY Daily News. Aker said the alleged “prosecutor” was really a collection lawyer.
“Then I get a lecture (from the judge) about the United States and stealing from the government,” Aker said.
According to the NY Daily News:
Aker told The News that he was ordered to pay $5,700 for the loan, including interest. However, Aker was also ordered to pay for the cost of the morning arrest — nearly $1,300. If he didn’t pay that amount by March 1, he said, he was told he would be arrested again.
Aker was shaken by the entire ordeal and is working to secure legal representation. He claims that during the whole process he was never read his rights.
“I am still shaken,” Aker said. “I had to go to work yesterday, and it was hard to drive to work, for the fear of someone coming. I am looking out the window and I have things to do today, and I am still afraid to go outside.”
The average student loan debt for a 2015 graduate was approximately $35,000, according to the Wall Street Journal. The criminalization of those who can’t afford to repay a student loan may become a more common phenomena, with a report by Fox 26 claiming that U.S. Marshals have plans to serve up to 1,500 warrants on people who have failed to repay their student loans.
Texas Rep. Gene Green (D) sees a problem with using U.S. Marshals to act as muscle to collect these loans for debt collectors and lawyers.
“There’s bound to be a better way to collect on a student loan debt that is so old,” Green told Fox 26.
According to a report by Fox 26:
Congressman Gene Green says the federal government is now using private debt collectors to go after those who owe student loans.
Green says as a result, those attorneys and debt collectors are getting judgements in federal court and asking judges to use the US Marshals Service to arrest those who have failed to pay their federal student loans.
Our reliable source with the US Marshal in Houston say Aker isn’t the first and won’t be the last.
They have to serve anywhere from 1200 to 1500 warrants to people who have failed to pay their federal student loans.
It is extremely worrisome that armed agents of the state are being used to bully people into paying delinquent student loan debt. There has to be a more intelligent manner in which to attempt to reconcile these debts than to send heavily armed men to arrest those either unwilling or more than likely unable to pay.
It speaks to the nature of the state itself that the default position is virtually always one of coercive force rather than to intellectually assess the means that will most likely provide the desired result – a reconciled debt.
When all you have is a hammer, everything begins to look like a nail.
Jay Syrmopoulos is a political analyst, free thinker, researcher, and ardent opponent of authoritarianism. He is currently a graduate student at University of Denver pursuing a masters in Global Affairs. Jay’s work has been published on Ben Swann’s Truth in Media, Truth-Out, Raw Story, MintPress News, as well as many other sites. You can follow him on Twitter @sirmetropolis, on Facebook at Sir Metropolis and now on tsu.
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February 16, 2016 | Joshua Krause | The Daily Sheeple | 10,326 views
Financially speaking, going to college these days is practically a death sentence for most people. Tuition has never been more expensive, and most degrees no longer give you any guarantee of landing a high paying job. On top of that, it’s nearly impossible to escape these debts through default or bankruptcy.
That’s why there is now well over $1.3 trillion of student loan debt held by millions of Americans. That’s more than the amount of credit card and automotive debt in this country. But at least these debtors can live their lives knowing that there won’t be any dire consequences for not paying, aside from having their wages and tax refunds garnished, and a poor credit score. Right?
Unfortunately, that may not be the case anymore. A Houston resident recently admitted that he was arrested at gunpoint by US Marshals, for failing to pay a $1500 federal student loan from 1987. He’s not alone either, as the US Marshals currently have between 1200 and 1500 warrants for unpaid student loans. You can listen to his terrifying account of what happened below.
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Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .
There are so many morals to this story-I don’t even know where to begin…
Since the default rate is becoming an ever more vertical line, maybe they’ll run out of room for legitimate criminals faster than they can release victimless convicts. In any case, the majority of the customers of higher education have yet to open their eyes wide enough to observe how worthless said higher education has become with respect to producing employable educated.
Legitimate criminals are in government. Sadly, the majority of people in prison are innocent. Why do you think our court systems refuse to allow dna testing on all cases, including death row cases where there is old evidence that could have DNA testing. Because few thousand times they allowed retesting of the old evidence with the new DNA science, 100% of the people cases retested found the person on death row was innocent. Our Courts, Cops and DA’s have been framing the innocent since before I was born. They know this, which is why they systemically block the retesting old evidence (even though it was saved under the notion that it could re-examined later as science advanced). The criminals are in government, the impoverished are in prison. This world is a different place than we were all taught in public school.
What constitutes an illegitimate criminal? No court which hasn’t accepted DNA as scientifically valid can admit it as evidence.
I’m not sure. I reused the phrase “legitimate criminal” from your post thinking it to mean: Someone who has actually done something wrong.
I would therefore assume an “illegitimate criminal” is someone who is accused of being a criminal, but has not actually done something wrong.
The legitimacy of the criminals I was addressing in my post were legitimated by adjudication. Yours?
Lots of people that are in prison are there because they signed a plea bargain. That is tantamount to admitting to the crime.. Most were charged with multiple offenses, and took the plea to knock it down to one or a few charges; still, if they went to trial, they’d have been facing all or most of the charges..
Indeed Maddawg. It’s a sad reality that only 2% of the people in prison have been given their constitutional right to a trial by a jury of their peers. They’re consistently coerced into illegal “plea agreements”, either you admit you’re guilty to legitimize our system, or you’ll give you your trial and if we’re able to make you lose, we’re going to make an example out of you and give you the highest possible punishment. It’s coercion and most people would rather see their family again then flip the coin over principle. An “admission” of guilty under coerced circumstances is hardly a true admission. If these people were truly guilty, the courts wouldn’t block the retesting of the evidence with DNA technology.
This the old addage, “The winners write the lies”.
Oh please, how ridiculous to assert that that the majority of people in prison are innocent. And your claims that DNA evidence proved that “100%” of the people accused were proven innocent is equally a crock of crap.
& you were saying?
Same as before … To assume that “most” people in prison are innocent because of what happened in one state is ridiculous.
This goes on far & abroad , while many cases Government are refusing to allow dna evidence to intentionally convict innocent people pervert the course of justice, but anyhow keep like an ostrich with you head in the sand, cause I ain’t gonna argue with you, I got more important things to do.
Show me facts, not speculation. As somebody who served an 8 year prison term for simple possession of marijuana back in the 1&70’s, I know about injustice and how screwed up our justice system is, but one thing I can tell you from firsthand experience is that “most” people did commit the crimes they were incarcerated for.
Now, don’t get me wrong, I believe it’s a travesty to lock up drug addicts and nobody should go to prison for simple possession of controlled substances. Having said that, thank God for prisons, because there are a lot of very sick puppies who should never be allowed back on the streets. Nuff said!
I told you I ain’t got time for this, but you don’t heed to what I typed. Your attempt to bait me into this talking from the past while were here & now in the present ain’t gonna work. It seems too me you need total re-educating on the matter to transform you from all your brainwashing you were exposed to from the Mainstream Lamestream Media that has hoodwinked most. I know you ain’t gonna pay for my time on the matter & acting like a troll about it is not going to keep me banging on about it when as usual it always ends with me having the last word after they have nothing more to say about it cause they realize I was right. Take it as you may, if you believe the sun shines out the Gov’s Ass then good luck to you, for obviously you can’t see the bigger picture to this, & I know allot of things about it that you obviously don’t. You have the ability to do your own research on the internet just like everyone else. but if you choose to interpret it different from everyone else , well that’s your choice I am done here so be gone now.
I’m pretty sure the reason you end up getting the last word in is because you talk exclusively out of your @ss like some paranoid whack job, and people figure there is no use in talking to someone stuck on stupid.
Are you really this pathetic, You can’t take a hint can you , you hang around like a bad smell get a life loser , I don’t want to talk to you cause this just proves how stupid you are. I got no interest in talking shit with you cause your Mr Always Right your type is so common your just a waste of my time which your still here wasting it so go away.
You say you don’t want to talk to me and that I’m a waste of time, yet, like some silly kunt who can’t keep her mouth shut, you keep coming back to grovel at my feet … lol. That’s how losers with petty ego’s roll. Thanks for confirming what I knew from jump street.
The take over of student loans by the AHCA enslaves our youth , their children, and grand children. This was not done by Wall Street. It was done by the Democrats in the Federal Government, like it or not.
loved you in Cannonball Run.
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Sammy take your eye out and toss it in the deep end.
God Bless the USA!
God Bless the USA!= God Bless the new plantation owners enslaving all races for all time.
My friend the federal government is NOT the USA.
That’s the idea behind the one-world government and then population control.
God Bless the USA!
You’re so right Sammy. Just want to note that the Repubs are in on it too. We’re seeing a world domination chess game being led by the UN to absolve all nations of their sovereignty. The government in the US consists mostly of crony criminals pushing the UN’s agenda. The most anti-american thing a person can do is support the government. America was founded on freedom, and therefore suspicion and suppression of government, in favor of the people.
What you illuminated is how and why patriots get classified as anti government terrorists when in fact we are supporters of the US and it’s Constitution.
And that, my friend, would be the Liberal Democrats attempting to enslave the whole of a people belonging to a Nation who believe in people’s rights and individuality Supremely given by a Constitutional Advancement for said people of that Nation. That Nation being AMERICA!
Vote Democrat to enhance and approve enslavement of a Nation. Where segregation is endorsed and encouraged.
Higher education is a double edged sword when the government started to finance it; prices for higher education skyrocketed as educators saw “more profit”.. This led to the need for more financing, and again, higher education costs;; The problem in the end is- more people pay for the same education, or less if attendance swells; and the rewards have not grown at the same pace; too many can’t get a job to pay off the loans and paid way more than the education that they received, or at least what they should have.
Financing drove prices up; those that signed the loans are paying the price for their ignorance; and now, it’s time to pay the price.. It’s no different that those that owe money on a credit card, or some other bad loan; sucks, but you signed on willingly…
Are you insinuating, sir, that people are responsible for their own actions? How mean spirited of you. /sarcasm
Actually he’s correct. But people, though responsible for their own actions, also have the choice to be manipulated by media and/or Government activity. They are doing everything in their deceptive/devious and demented power to alter the circumstantial outcome by turning THE PEOPLE against each other in an effort to get what they want.
Unfortunately, the people are falling for that manipulation and their lies!
That’s one way to put it. Caveat emptor is another.
The gentleman never said that he didn’t owe the $1500. His beef is that the government didn’t forget and the method they used to collect. I’d like to know how much that $1500 has grown and what it is today.
Six or seven million, maybe? With admin fees added in? Plus the surcharge for the US Marshall’s benevolent society?
Late and admin fees, accumulated interest.. Yeah, a bit more than if he had paid it off like he should have…
If they owe you anything it might take a decade or longer,BUT if you owe them……..
For 20K+/yr for 4yrs you too can be a trained SJW…. apply within!
Watch Slavery revive in the good ole USA ??
Slavery never ended in America or across the globe. We have innocent people in prison on false accusations who we put on labor crews working for pennies a day. After all, we gotta make them pay society back right? It’s called slavery.
Most under age prostitutes in major city street corners are slaves too. Slavery is a common theme across all human society and it is alive and well globally. Most americans houses are filled with goods made by chinese slaves who are prevented from even committing suicide.
The most ironic part is when the corrupted media tells young black people wearing big $ “air jordans” sneakers made by chinese slaves who can’t even commit suicide that they’re owed something for “slavery”.
Perhaps the “made in china” label should be legally corrected to “made in china by people who were not paid and did not have a choice”.
It never went away. The 14th amendment extended it instead of eliminating it.
Just creating another another lucrative market segment for the prison industrial complex.
I remember reading about Debtor’s prison but the Feds, especially the DemonKKKRats, and these colleges created this mess. Let the schools finance their qualified students.
God Bless the USA and Springfield Armory!
I would ask the question, why haven’t you attempted to pay?
Why that’s the liberal way is it not? Default on loans and let others pay for it?
I recall that somewhere I read that it was illegal for the government to charge or recieve interest on student loans. That’s most of the reason that debt is over a trillion dollars, INTEREST, accumulated! I’d say that if that interest charges is illegal, then it’s illegal to arrest, incarcerate, confiscate, or garnishment of income (On some retirees on SSI). Just wondering if what I read was true?
Did they sign their loan paperwork freely or did someone hold a gun to their head ? Interest, and other fees are surely part of that agreement that they willingly signed..
Besides, when you owe the IRS, don’t they slap you with late fees, interest payments and other crap ?
This just so Full of Baloney. U.S. Marshalls are not responsible for such nonsense. This Rag should be used to curb Sheeple… NUTZ…
All federal agents are lawfully able to enforce all federal statutes or CFR that they are ordered to. Fortunately, most of them are ignorant, which makes us all safer.
I read comments about it being illegal to for the government to charge interest; students and parents signed these agreements, binding agreements… No one held a gun to their heads.. Besides, if you owe taxes, doesn’t the IRS slap you with fines, late fees, and other charges too ? No different..
Why don’t you arrest Al Sharpton for not paying his Tax?
You order the food, you pay the bill……this mook can’t pay back $1500.
Hello Federal and U.S. Marshalls. Your sworn oath is to arrest Federal Criminals and Terrorists such as the like of those committing War Crimes and Treason to the Country of the United States. Beginning at the top; Barack Hussein Obama, William and Hillary Clinton, the Murderer of Supreme Court Justice Antonin Scalia! How about those for starters.
Leave the piddly things up to the local police!
If the Feds want to arrest everyone who owes student debt the next thing we know eveyrone will lose their voting rights. Then the totalitarian pigs can keep power for life, nominate their successors and ensure eternal serfdom.
We love freedom in the U S A. The most free people in the world. Tell that to the 2.5 million locked up in the U S A everyday. How many since the drug war or war on people? Who knows who cares. We are a just people! Just for the few that can buy their way out of the most despicable crimes imaginable. By the way, if your country doesn’t have democracy and freedom like we do we will bomb you to oblivion! The most blood thirsty brutalizing system in the world!
Looking at what they’re graduating from college these days who would want a government sponsored education loan that follows you to the grave.
Manage and Repay Student Loans
Get answers to the most common questions about student loans.
Learn how to be an informed, and responsible borrower.
0:00 College or career school is an important step in achieving your future goals,
0:05 and there are many financial aid options to consider.
0:08 Did you know that a federal student loan can be a great way to help pay for school?
0:13 After all, a grant, work-study job, or a scholarship
0:17 can be a huge help, but these forms of aid may not cover
0:20 the full cost of attending school.
0:23 So if you decide to take out a federal student loan,
0:25 it’s important to understand what you are getting and be a responsible borrower.
0:30 Getting a loan is a big decision. You might be paying your loans back
0:34 for 10 years or more, so take your time to decide.
0:37 And remember to accept only the loans that you need,
0:41 because you’ll have to repay them once you’re out of school.
0:43 Here are a few things to keep in mind when deciding how much to borrow.
0:47 Do some research: Make sure that your school is the right fit for you
0:52 both educationally and financially.
0:55 Location, location, location:
0:57 The amount of money you need to borrow can depend a lot
1:00 on where your school is located.
1:02 In-state schools and community colleges
1:04 may cost less than out-of-state schools.
1:07 And finally, getting an idea of your future income
1:10 is also important when deciding how much to borrow.
1:13 Starting salaries vary greatly depending on your career path,
1:17 so it’s worth thinking about how the amount of your loan will affect your future finances.
1:21 After all, your student loan payments should be only a small percentage
1:25 of your salary after you graduate.
1:27 Once you’ve decided on your school and figured out how much money you should borrow,
1:31 you’ll need to sign a promissory note, which is an agreement to repay your loan.
1:35 Make sure you keep a copy for your records.
1:38 If you do take out loans, you’ll need to keep in touch
1:41 with your loan servicer when repayment begins.
1:44 Your loan servicer will make this easy for you
1:47 you by offering web, e-mail, and phone contact options.
1:50 If you make this investment in your future,
1:52 being an informed, responsible borrower can pay off in a big way.
1:56 If you have questions or need more information,
1:59 please visit StudentAid.gov.
Before You Graduate, Leave School, or Enroll Less Than Half-Time
For every federal student loan you received, your school or loan servicer provided information about it. Review your borrowing history, and make note of the amount you originally borrowed and the current balance for each federal student loan.
After you graduate, leave school, or drop below half-time enrollment, you may have a period of time before you begin repaying your student loans, known as a "grace period."
Select a Repayment Plan for Your Federal Student Loans
Within the grace period you may receive information about repayment from your lender. You’ll have a choice of several repayment plans. Find the right one for you.
Most federal student loans are eligible for at least one income-driven or income-based repayment plan (IBR). These repayment plans are based on a percentage of your discretionary income. They’re designed to make your student loan debt more manageable by reducing your monthly payment amount.
Your loan originator can answer your questions about about repayment. If you don't know who your loan originator is:
- Browse a list of Federal Student Aid Loan Servicers.
- Visit the National Student Loan Data System for help. To use this system, you will need to create an account that will allow you to: electronically sign Federal Student Aid documents, access your personal records, and make binding legal obligations.
After your grace period is over, you will have to start making your payments. Do not miss any payments. Paying your loans on time will help your credit score.
Repayment of Your Student Loans: What to Expect
Learn about the repayment of your student loans, and the options you have.
0:00 If you've taken out a federal student loan,
0:02 there will come a time when you have to repay what you've borrowed.
0:05 That time comes after you graduate, leave school,
0:08 or drop below half-time enrollment.
0:10 But don't worry, in most cases, you won't have to begin making payments right away.
0:14 For instance, you won't have to start repaying your direct subsidized loan
0:18 or direct unsubsidized loan for 6 months,
0:21 and your Federal Perkins Loan begins repayment after 9 months.
0:24 If you have a PLUS loan, your loan enters repayment after your final disbursement,
0:28 but you may be able to postpone your payments.
0:31 Before your loan enters repayment,
0:34 you'll be contacted by a loan servicer.
0:36 A loan servicer is an organization that manages loans
0:39 and collects payments on behalf of the lender.
0:42 For loans you receive from the U.S. Department of Education,
0:45 you will submit your payments to your loan servicer.
0:47 If you have a Perkins Loan from your school,
0:49 you'll make payments to your school or your school's loan servicer.
0:53 Your loan servicer can help you select the repayment plan that works best for you.
0:57 There are different types of plans that you can choose
1:00 choose based on the type of loan you received and how much you've borrowed.
1:03 For example, you may select a fixed monthly payment.
1:07 But some people opt for a graduated repayment plan
1:10 where payments start low and increase every two years.
1:13 If you think you'll need a longer amount of time to pay back the loan,
1:16 you may be eligible for an extended repayment plan.
1:19 There are also options that base your loan payments on your income
1:23 income in order to help you better manage your debt.
1:25 If you ever find yourself having difficulty making payments,
1:29 contact your loan servicer immediately to discuss the options available to you.
1:33 If you need to look up the contact information of your loan servicer,
1:37 we have a great resource available.
1:39 The National Student Loan Data System can provide your loan servicer's name
1:43 and contact information, as well as other details about your loan.
1:47 Visit www.nslds.ed.gov.
1:54 If you are interested in estimating your monthly loan payments,
1:57 or if you would like more information, please visit StudentAid.gov.
How to Manage your Student Loans
Learn about options such as switching repayment plans, deferment and forbearance, or consolidating your loans.
00:00 If you have a federal student loan, there are several options
0:04 available to help you manage your debt.
0:05 And if you’re having trouble making your loan payments,
0:08 contact your loan servicer immediately.
0:10 Your loan servicer will walk you through your options.
0:14 For example, you might consider changing your repayment plan.
0:18 There are several repayment options available to you.
0:21 Most borrowers start off with the standard repayment plan,
0:24 which offers a fixed payment over a 10-year period.
0:27 However, you can lower your initial monthly payments
0:31 using a graduated repayment plan that starts with lower
0:34 monthly payments that gradually increase over time.
0:37 Or if you qualify, you may be able to lower your monthly payments
0:41 by extending them over a longer period of time.
0:45 Finally, you may be able to choose a repayment plan
0:47 that ties your monthly payments to your income.
0:50 If you meet certain requirements, you may be able to defer
0:54 or temporarily postpone your payments for a variety of reasons,
0:58 including a return to school, unemployment, or military service.
1:02 If you’re having trouble making your loan payments,
1:05 but do not qualify for a deferment, your loan servicer may grant forbearance,
1:10 which allows you to postpone or reduce your monthly payment
1:13 for a limited period of time due to financial difficulty or certain other reasons.
1:18 Contact your loan servicer to see if you qualify for deferment or forbearance.
1:23 If you have multiple federal loans,
1:26 consolidating them into one loan may also help you better manage your debt.
1:30 In addition to having to make only one federal student loan payment each month,
1:35 your monthly payment amount may be lower
1:37 since the length of your repayment schedule may be extended.
1:40 Consolidating your loans is easy and can be done
1:43 any time after you leave school.
1:45 Switching repayment plans, exploring deferment and forbearance options,
1:49 or consolidating your loans may help you
1:52 better manage your student loan payments and avoid default.
1:55 Remember, if you’re having difficulty making payments,
1:59 contact your loan servicer immediately to discuss the pros and cons of these options.
2:04 If you have questions or need more information,
2:07 please visit StudentAid.gov.
If you and your loan servicer disagree about the balance or status of your loan, follow these steps to resolve your disputes:
1. Solve the Issue with Your Loan Servicer
2. Request Help from the FSA Ombudsman Group
If you have followed the guide and still cannot resolve your issue, as a last resort, contact the Federal Student Aid (FSA) Ombudsman Group. The FSA Ombudsman works with student loan borrowers to informally resolve loan disputes and problems.
You can request help online or call 1-877-557-2575. Before contacting the FSA Ombudsman Group, use this checklist to gather the information you’ll need to discuss the dispute with them.
If you find yourself in a situation where you can’t pay the full amount due on time or have to miss a payment, your loan may be considered delinquent and you may be charged late fees. Contact your loan servicer immediately for help, and ask them about your options.
If you are unsure which agency is servicing your defaulted student loan(s), contact the Federal Student Aid Information Center (FSAIC).
You may also retrieve your loan information from the National Student Loan Data System (NSLDS). This system contains financial aid information collected from schools, agencies, and other educational institutions. You will need your Federal Student Aid (FSA) ID information to access your account.
The Default Resolution Group helps student loan borrowers in default arrange debt payments. Contact the Default Resolution Group at 1-800-621-3115.
Find more information on defaulted student loans:
Eligibility for Loan Forgiveness, Cancellation, and Discharge
You may qualify to have some or all your federal student loan amount forgiven if you enter and continue to work full-time in a public service job. Learn more about the Public Service Loan Forgiveness (PSLF) program.
Loan Cancellation, or Discharge
Under certain circumstances, a school or financial institution will agree to cancel or discharge a loan. Continue making payments on your loan until you hear whether your discharge went through, or if you qualify for forbearance (a temporary suspension or reduction in payments).
Never take a student loan — failure to pay may result with arrest
70 Marshalls intimidate loan defaulter in court
HOUSTON, Tex. (INTELLIHUB) — After being raided by 7 U.S. Marshalls, arrested, placed in chains, and read no rights, a local man named Paul Aker found out the police state style fiasco was all over a $1500 student loan he took back in 1987.
But to top it all off, when Aker later appeared in court he was surrounded by “70 Marshals.”
A write up in the Independent explains:
“Since November 2012, US Marshals had made several attempts to serve a show cause order to Paul Aker to appear in federal court, including searching at numerous known addresses. Marshals spoke with Aker by phone and requested he appear in court, but Aker refused. A federal judge then issued a warrant for Aker’s arrest for failing to appear at a December 14, 2012, hearing,” they said in a statement on Tuesday, according to the Houston Chronicle.
“It is the responsibility of the US Marshals to serve civil processes at direction of the federal courts. These civil processes include summonses for individuals to appear in court to address delinquent federal loans, including student, agricultural and other loans made by federal agencies.”
Youtuber DAHBOO7 is now concerned this “could branch out across the country” and says that they are using the Marshals to “track down the students out here” after they were already duped into taking the loan in the first place.
“This shows how low they are willing to go in this country […] the trap just gets deeper and deeper everyday.”
Lexi Morgan is a daily opinion columnist and journalist covering a variety of thought-provoking issues found in today’s real world. Lexi is an exclusive weapon of Intellihub.