Credit Cards

Common Problem Among People Regarding Student Loans

Going to college is a sometimes considered a privileged endeavor for some people, however even though students come out more educated and perhaps well informed, the downside to going to college are the student loans. The student loan stories I have experienced myself and heard of are really hindering my skills in the job market as well as day to day living. At the moment I have over 52,000 dollars in debt to student loans. I find this obtrusive and a bit intimidating for somebody my age simply trying to settle down and make it.

Then, people like me often resort to getting more debts especially when needs arise. We often try to sort out credit scores to get Payday Loans Bad Credit. We need such payday loan since student loan undoubtedly affect credit scores.

I first went to UNC-Charlotte with aspirations of becoming an architect, however that did not exactly work out. As I continued my studies at UNC-C I earned a bachelor’s of arts in Political Science and a minor in Journalism. These 6 years I was at UNC-C resulted in both subsidized and unsubsidized loans, meaning some of them I have to pay back. Well in my fifth year at UNC-C I was selected by one Professor to advance into another program, a Latin American Studies BA, which I obtained 2 years later. As I progressed and was of course, learning more and feeling very optimistic about my future, my loan debt was adding up quickly. I finally finished both degree programs, which I have rarely gotten to even use in my everyday life. Since graduating I have sub-taught, worked in low income after-school programs and even had to wait tables to make ends meet. Recently I even applied to be a Spanish Tutor so I could help other fellow students grasp the Spanish language, but I was not selected for even an interview. I thought that obtaining another degree such as a Spanish Degree would help my communication patterns and skills in the workplace, however I have yet got to utilize it in a way that will help my career and the community.

Since my graduation I have deferred my loans due to lack of work in the fields I studied in. I found that the deferment process was easy for the first few years, as they do allow you to have grace periods. However as I kept sub teaching, making just enough to pay my rent and other intermediate bills, my loans were going into default. I received several emails and phone calls about these loans, in fact the College Foundation even calls my grandfather’s house to try to find out how I am going to repay these loans. One time part of my loans were sent out to a Loan Consolidation Company in California. I filled out all the paper work and spoke many times with a gentleman on the phone about this. He advised me to write a letter of support stating that there is a lack of jobs in the area I work in for my undergrads. I thought surly with all the information I sent and explained that my loans would at least be in deferment a little longer. Also I tried going to back to school at a local university that would help me obtain an ESOL certificate, but they also charged three times as much for classes, which resulted in yet another Sally Mae loan in deferment, even though I only remained in the classes for a total of 8 eight days. I have wrote letters to the Virginia School Education Foundation explaining this situation and I did have some luck with refinancing and telling my side of the story. The amount I owed Sally Mae was greatly reduced but it was still an obstacle to keep on top of the student loans.

At the current moment I am still receiving calls from the NC College Foundation but yet I am working on still finding a decent paying job with health benefits in Lynchburg, Va. Last year I filed my income taxes and it was ceased by the Federal Government for student loan debt. Since then I have collected Good-Will receipts to help itemize my donations in the future for my taxes so they can count somewhere towards my Federal Loan debt. In the mean time I am having to go back to wait tables and work on ebay for some income to pay for my immediate bills and my own health care out of pocket. I think that Student Loans should be forgiven to a degree. I have tried to work in other fields, which I can do but I feel that there is not enough job creation for my degrees in this area. If it comes down to the wire, I may have to move to a bigger metropolitan area just to make more money and maybe one day pay down some of my loans. Until then I hope that I, like many other students can count on policies in the near future that will perhaps relieve some of the loan debt.