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Forum Post: odumba student loan announcement

Posted 12 years ago on Oct. 26, 2011, 3:07 p.m. EST by mishelh (11)
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ok so i read there is a 'plan' to 'help' people with student loans. it is too little too late and still protects the lenders. i recall seeing a woman that was unable to find a job for 2 years after she graduated as a social worker. she finally lands a job in her field and the feds contacted her employer. the loan stipulates that if the loan is in default one cannot be hired in that field. luckily her employer placed her in another position in the company but that is criminal.

then i read a 'student loan horror story posting' and see the response below by a lawyer.

I'm a lawyer with over $150K in debt. My student loan payments are more than 50% of my take home income. The job market for attorneys is not great even when times are good but in a recession, it is nearly hopeless. I own no home and can't even think about starting a family because I can't even afford to take care myself.

The average attorney does not make what they once did. The market is saturated, yet the average debt is far higher than it used to be. I know guys that I went to high school with that didn't go to college that are living in $300K homes and have families. I have a bachelor's and a juris doctrate and I was forced to move back in with my parents. It makes absolutely no sense.

I should have been a student loan lender...there's virtually ZERO risk in the investment. It's criminal. It oppresses people that want to be educated and positively contribute to society. Our founding fathers are probably turning over in their graves.

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