To: President Donald Trump, The Texas State House, The Texas State Senate, Governor Greg Abbott, The United States House of Representatives, and The United States Senate
Establish a statute of limitations on student loan debt
The Department of Education must stop cooperating with and doing business with the myriad network of collection agencies who harass and harm those of us who have been dealing with disputed student loan debt for over 30 years.
Why is this important?
In 1983 I decided to go back to school and finish my degree and pursue a masters degree in political science and public administration. I borrowed $7500. Due to my mother's sudden death and financial issues, I wasn't able to finish my degree (I lack one theology credit to do so) and I fell behind in my loan payments.
Over the years I have paid back over $11000 on this loan, but since I didn't pay it all to the Dept of Ed and/or ONE of the myriad collection agencies that have held this debt over the years, it has once again been sold, and penalties, fees, and interests now total $14486.64. If paid, I would be paying back $25000 on a $7500 loan. Because of this egregious situation, I was able to get no funding from the SBA or anything tied to the federal government, including government and minority owned business status and the ability to bid on government contracts, and now I have no business.
I will be 60 years old next month with failing health, and have filed for disability. Any tax refunds that I've been entitled to over the years have been seized for the debt. Now I fear that, should my disability claim be allowed, any funds that I deserve and have worked for will be seized for this unreasonable debt. It has ruined me financially and has inhibited my ability to make a living. After so many years, there MUST be some type of waiver put into place that would eliminate this kind of unfair and immoral financial burden, especially in this difficult economy. At least the laws passed in the 90's making student loan debt ineligible under bankruptcy should be reversed.
My husband survived a heart attack, artificial valve replacement surgery and another surgery almost two years ago, and we struggle each month to make the insurance payment and pay for his medications, including the blood thinners that he must take on a daily basis to survive with an artificial heart valve. He is working at a very difficult job in the Texas weather simply because he is the only one now that can find work. I have my own significant health issues as well. We are burdened by debt and have seen everything we've worked for over the last decade disappear. We are truly the disappeared middle class and are financially devastated.
We have suffered enough and we have paid enough. The government is making billions off these loans and becoming more and more entrenched with the collection agencies that are doing the same, to the detriment of the people like me who have met our obligations or are trying desperately to do so. Since I originally tried to launch this petition last year, two more agencies have been sold this note; the latest is calling me multiple times a day and refuses to stop unless I make financial arrangements with them, and they are threatening wage garnishment. We face each day with such physical and emotional stress and pain that this is something that we should not have to handle. I know that there are millions of us who are suffering through this unfair and unjust system.
Over the years I have paid back over $11000 on this loan, but since I didn't pay it all to the Dept of Ed and/or ONE of the myriad collection agencies that have held this debt over the years, it has once again been sold, and penalties, fees, and interests now total $14486.64. If paid, I would be paying back $25000 on a $7500 loan. Because of this egregious situation, I was able to get no funding from the SBA or anything tied to the federal government, including government and minority owned business status and the ability to bid on government contracts, and now I have no business.
I will be 60 years old next month with failing health, and have filed for disability. Any tax refunds that I've been entitled to over the years have been seized for the debt. Now I fear that, should my disability claim be allowed, any funds that I deserve and have worked for will be seized for this unreasonable debt. It has ruined me financially and has inhibited my ability to make a living. After so many years, there MUST be some type of waiver put into place that would eliminate this kind of unfair and immoral financial burden, especially in this difficult economy. At least the laws passed in the 90's making student loan debt ineligible under bankruptcy should be reversed.
My husband survived a heart attack, artificial valve replacement surgery and another surgery almost two years ago, and we struggle each month to make the insurance payment and pay for his medications, including the blood thinners that he must take on a daily basis to survive with an artificial heart valve. He is working at a very difficult job in the Texas weather simply because he is the only one now that can find work. I have my own significant health issues as well. We are burdened by debt and have seen everything we've worked for over the last decade disappear. We are truly the disappeared middle class and are financially devastated.
We have suffered enough and we have paid enough. The government is making billions off these loans and becoming more and more entrenched with the collection agencies that are doing the same, to the detriment of the people like me who have met our obligations or are trying desperately to do so. Since I originally tried to launch this petition last year, two more agencies have been sold this note; the latest is calling me multiple times a day and refuses to stop unless I make financial arrangements with them, and they are threatening wage garnishment. We face each day with such physical and emotional stress and pain that this is something that we should not have to handle. I know that there are millions of us who are suffering through this unfair and unjust system.