Amanda C
I've been out of school now for about 4 years and was able to have a forbearance on my student loans and now they say time has ran out and my loans are in default status. I have gotten a few letters from my lender saying my wages will soon be garnished. This is freaking me out because I barely get by now on my $7.00 an hour job. I have talked to my a person at my lender's and this person tells me I have to pay 100.00 a month or they will take 15% of every pay check I get! My question is, does anyone know of a way I can stop this from happening right now? I mean I know I borrowed the $$, and I wanna pay it back. But I can't even afford electricity let alone pay them. What should I do?
I've been out of school now for about 4 years and was able to have a forbearance on my student loans and now they say time has ran out and my loans are in default status. I have gotten a few letters from my lender saying my wages will soon be garnished. This is freaking me out because I barely get by now on my $7.00 an hour job. I have talked to my a person at my lender's and this person tells me I have to pay 100.00 a month or they will take 15% of every pay check I get! My question is, does anyone know of a way I can stop this from happening right now? I mean I know I borrowed the $$, and I wanna pay it back. But I can't even afford electricity let alone pay them. What should I do?
Answer
Amanda:
The US Department of Education devotes an entire section of their web page to the matter of student loan default.
Visit the page, and you'll find a discussion of all of the options that are available to you. You can find that page here: http://www.ed.gov/offices/OSFAP/DCS/repaying.html
Don't forget to page through some of the tabs at the top of the page - it's not the most elegantly well designed page you'll ever see, and more than one person (I'm sure) has become hopelessly confused, while trying to navigate it.
Along with that (hopefully) helpful advice, I've got to share some bad news, too. When you borrowed from your lenders, you promised to repay the money over a particular period of time. Your promise didn't say "If I can", your promise said "I will". I mention that because you need to approach a resolution to this problem from the perspective that:
1) not having money and not having a decent job is not, in and of itself, an excuse to not pay
and
2) that any accommodation that the lender allows you (including that 4 year forbearance you've already enjoyed) is a voluntary, generous gesture on their part.
If I sign a contract to provide widgets for a car maker, and they pay me for those widgets, up front, I can't return to the car maker and say "I'd love to send you over those widgets, but you see, I've closed my widget factory, so you're just going to have to go away and leave me alone. I'll try to get you some widgets some day - if, and when I can."
Your promise to pay is just like my promise to provide widgets. The contract says that I HAVE to find a way to hold up my end of the bargain and produce widgets - not someday, or when I'm good and ready, but when I promised to. If the car maker says "We'll give you another 4 years to deliver those widgets", or "We'll take the widgets in much smaller quantities", then they're offering me an accommodation, and I need to be grateful.
I'm not trying to be mean - I'm just trying to point out a reality. Not having a decent job, and not making very much money does not, in any way, provide a legal excuse for not having to repay your loan - not eventually - but as you promised that you would.
Read over that Department of Education info carefully so that you'll know what options are available to you, then contact your lender - explain - not that you know you have to repay and you will some day - but that you want to find the best possible way to get this all squared away.
To be very honest with you - this is always the risk of borrowing for college - if you don't get a decent job - you're in a big, big mess.
Good luck to you.
Amanda:
The US Department of Education devotes an entire section of their web page to the matter of student loan default.
Visit the page, and you'll find a discussion of all of the options that are available to you. You can find that page here: http://www.ed.gov/offices/OSFAP/DCS/repaying.html
Don't forget to page through some of the tabs at the top of the page - it's not the most elegantly well designed page you'll ever see, and more than one person (I'm sure) has become hopelessly confused, while trying to navigate it.
Along with that (hopefully) helpful advice, I've got to share some bad news, too. When you borrowed from your lenders, you promised to repay the money over a particular period of time. Your promise didn't say "If I can", your promise said "I will". I mention that because you need to approach a resolution to this problem from the perspective that:
1) not having money and not having a decent job is not, in and of itself, an excuse to not pay
and
2) that any accommodation that the lender allows you (including that 4 year forbearance you've already enjoyed) is a voluntary, generous gesture on their part.
If I sign a contract to provide widgets for a car maker, and they pay me for those widgets, up front, I can't return to the car maker and say "I'd love to send you over those widgets, but you see, I've closed my widget factory, so you're just going to have to go away and leave me alone. I'll try to get you some widgets some day - if, and when I can."
Your promise to pay is just like my promise to provide widgets. The contract says that I HAVE to find a way to hold up my end of the bargain and produce widgets - not someday, or when I'm good and ready, but when I promised to. If the car maker says "We'll give you another 4 years to deliver those widgets", or "We'll take the widgets in much smaller quantities", then they're offering me an accommodation, and I need to be grateful.
I'm not trying to be mean - I'm just trying to point out a reality. Not having a decent job, and not making very much money does not, in any way, provide a legal excuse for not having to repay your loan - not eventually - but as you promised that you would.
Read over that Department of Education info carefully so that you'll know what options are available to you, then contact your lender - explain - not that you know you have to repay and you will some day - but that you want to find the best possible way to get this all squared away.
To be very honest with you - this is always the risk of borrowing for college - if you don't get a decent job - you're in a big, big mess.
Good luck to you.
Can someone translate this page for me?
Leeanne An
I am interested in buying one of their puppies but I cant read Korean. Can someone please translate this page for me or at least tell me the price in US currency. The page is http://cafe.daum.net/jungpuppyclub.
It doesn't have to be the whole page. It can be the price.
Answer
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Major service
Cafe
Blog
Shopping
News
Securities
Real estate
Dictionary
Movie
Music
Cartoon
tv Podcasts
Agora
Map
More
Referral Services
Game
Hoping
Kid-chan
Full Service
Search show
Trends
Performance
Game
Financial
Weather
Search Directory
Drury Web
Mobile
Motor Show
Character
Literature in the world
Cultural Heritage
Mijeunet
Mijeumam
Skunk Cook
Novel
Social Shopping
Shopping won
Shopping Howe
Style
Sport
Travel
Nowadays
Horoscopes
Widget Bank
Army Air Force
Car
Archives
Specialty materials
Jeju
Securities
Knowledge of EBS
Book
Employment
Cache
Calendar
Camp
Culture Lounge
Cloud
Kid-chan
Song
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