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Private School Loans and Bankruptcy

I attended a University in Wisconsin fall of 1998.

I ran across this article about Private School Loans and can really relate! I am adding the Link.

http://www.progressillinois.com/2009/5/13/durbin-davis-student-loan-fight

 

I was 18 years old and had no Idea what I was doing let alone signing. I filled a bankruptcy in 2001 and this "loan" should have been discharged due to laws not changing until 2005. I have been harassed every year by this UW! So when we filled a 2nd Bankruptcy that was recently discharged Dec 2009, I again added this UW "Loan" again to the listing of creditors.

I can not believe how incredibly rude these collectors are! I have been harassed now since my 1st Discharge date of May 29, 2003. The school has been calling my parents looking for me, grandparents and I get letter after letter asking for payment on this "Loan" that was discharged in 2003. The most recent letter demanded I pay a $1000.00 collection fee! Did I mention that in February 2009 they tried to collect payment from my Joint tax return!

If the schools want students to be held accountable for these "Installment Credit Agreements" Then they should be MANDATED to send each student who is applying to the school to go through a class that explains the impact this "Loan" will and can have on them in the future. They need to be held responsible for providing a approved FREE class that will teach the future students how this "loan" will work, I mean really teach them, drill it into their heads! They also should be instructed in a Dept and Budget Class! I now have 4 children and a husband who has been laid off 10 months! If I did not have the protection from the 2003 discharge, I would be in a real hard situation, unless I qualified for the "Undue Hardship" provided by the court. When I went to school that 1 semester I went because my "boyfriend" was going to attend the school. I was not thinking about what I would be doing 12 years later! I was not even really thinking about my future. In fact I never had any kind of Class or Class offered to teach me how to budget or manage bills!! As far as my parents "teaching" me how to manage my bills.....well they never got around to this! I think that the schools should be able to protect themselves.... BUT I feel that they need to be mandated to provide this class to students (of all ages) and even a parent of the student until they reach the age of 21. This "Loan" really can impact a person far more then a student could ever begin to realize!! Possibly even have a Mandated Mini Class (on line even for the class after the new student class) that needs to be taken each time more money is added to this Tuition Loan!

My oldest child is 8 years old and my youngest child is 2. My 4 children would have to give up a lot in order for my to pay off this bill. Especially in our current situation!!

We need to not only protect our Grown Children, but we need to Protect the Future Children and Families of our Grown Child wanting a College Education!! If Education is Key to success then providing Education for upcoming Students should also be part of that success!!! It is our duty to show them this respect!

I do feel that Students should be held responsible for the tuition that they agree to pay! But if they are not properly educated on what the loan really means, we can not expect a student the age of 21 to be able to make these life changing decisions!

We need to take the time to provide as much aid to students as possible! These sudents are our Future Leaders, Teachers, Docotors, Parents, Nurses....etc. Please make this situation Right!

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Idea No. 74