I am writing because I do not know what else to do.
In 1996 I graduated college in Atlanta, GA. I moved to NYC to get better jobs. I got my degree in Fashions design, but due to the low pay, I was quickly forced to forget my dreams and go for better paying jobs in order to cover costs of student loans.
I DO NOT want to discharge, I want to get an Income Sensitive Repayment plan...
I was fine, until in 2000 I hadspinal surgery that left me in bed for about 6 months. Then came 9/11 incidents, I lost my job, my apartment- was evicted and became homeless in the streets.
Due to my living instability, I was unable to keep my jobs for long. Finally I was picked up by my parents (I'm now 34, so imagine the embarrassment) and taken to their home in Lajas, Puerto Rico. I have been here a few months and have very few job prospects-and most pay the minimum at best. I have no mode of transportation and have no property or bank accounts. I am looking to just take anything at this point. I have been unemployed for almost 2 years. I have NOT defaulted yet, and am currently in deferment.
Regardless of this, Sallie Mae- my lender, refuses to work out any type of affordable repayment deals AND they refuse to release the loan to another company. The payments fluctuated from 150- 350 to 548 to 738 to an unbelievable 1700 dollars!!! all within a period of 3 years, during my main hardships. I immediately contacted Senator Clinton's office and they listened, but I became just another name on the list for them to add to their campaign...and as of yet, nothing is been done to help the people with the real problem.
I DO NOT want to discharge, I want to get an Income Sensitive Repayment plan- there are many that I can apply to, that discharge your loan in 25 yeras.but Sallie Mae refuses. Can I take then to court? Can I try to have the interest discharged? Can someone help me? How do I go about this in Puerto Rico? Can anyone share any tips?
It is a Consolidated Unsubsidized Loan
Original Balanace 36,000
Balance now $80,000
-Was consolidated at a 9% rate in 1999
-My graduation date 1996