somone needs to call her out....

I have been lurking here for a couple of weeks and am unsure what your point is. The SYSTEM is biased towards the lenders on student loans.

Hey, "unregistered."

First, Soaplady doesn't work for a lender. She USED to collect on student loan debt and KNOW HER $HIT.

Second, just because the answer she gives isn't the answer you wanted, doesn't mean she's not right.

:D

I dont work for any lender ....never have. I did work as a student loan collector in the 90's and then a financial aid officer. I am simply giving the straight facts without sugar coating as to how financial aid collections works. Unfortunately too many people made bad decisions in their borrowing and educational choices and are now paying for it. Yes the economy is bad....however when I was collecting over a decade ago,people made bad choices then and whined about it too. In my day I pulled too many credit reports listing defaulted student loans but would see a new car purchase, Victoria Secret and upscale department store cards current. If you are smart enough to go to college,you are smart enough to do research and make informed choices. Even prior to the internet, going to a places like ITT and Devry was a joke..and all it took was a couple of phone calls to a potential employer to ask "would you hire me coming out of xxx school?" Lets face it....you buy a car....you get opinions, get a consumer report. You buy a used car...you get a carfax, you look under the hood or have a mechanic go over it. People spend MORE time deciding on what car they should buy which might last them 10 years than deciding on a school that should give you a career or education for life.
Also, having children is not a reason for paying your loans. It is a personal choice. I went to school, got my degrees and then moved home and worked two jobs and lived frugally until the debt was paid. I put off having children until I could afford it. The internet was not around when I went to school and I did research at my local library as to the schools I attended. We did not have income contingent or income based repayment back then.No loan cancellation. In my opinion, student loan borrowers, at l least of federal loans, should be laughing! They have it made...low interest rates (my rate was 9%)ample deferements, income contingent and income based repayment and loan cancellation. The trick is to borrow responsibly!!