Something That President Obama Left Out of The Student Loan Issue.

[rsmith6621]

President Obama needs to address another side to student loans. The loans that are in collections and deliquent. Personally I think a month of amnesty should be set up so those with outstanding collections due to various economic reasons can come clean and reestablish payments based on current income a reasonable payment plan and should have a good deal of the interest forgiven and all court cost dropped,no one should be left out. Payments that are already being made to collections should be allowed to be renegotiated as well

This would re-engage the debtor back in to the process and would help reduce the national debt. Bad debt that is on a credit report should be restored once to a positive report as well.

If someone from the White House reads this take it to the oval office and press the PRESIDENT.

[Enrique]

1. that has already been done

it's consolidation, and i took advantage of it myself earlier this year.

[rsmith6621]

2. Was it in collections or deliquent??....and who did you go through???

[Enrique]

4. it was in default

I had never been able to meet the terms for consolidation, but this spring when I was still unemployed I was able to get consolidation with an "income-based" payment plan which came out to monthly payments of zero. Praise the Lord, I have since found a job, but my payments are still very low. I went through my loan provider, Great Lakes Higher Education, but all they did was give me the forms from the Dept. of Education, and they are all I deal with now and it is a vast improvement.

[dennis4868]

5. right....

Obama and the dems passed a bill last year regarding this....My nephew took advantage of this as well. I really think people don't have much of a clue of all the good Obama and the dems got done in Obama's first 2 years....I don't expect people here at DU to "remember."

[Laelth]

3. I want a jubilee. n/t

-Laelth