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Amnesty for college tuition student loans

Anonymous's picture
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Dear President Barack Obama, First, I voted for you in the election and so far have not regretted the choice. You had a lot to contend with in the financial chaos the last president left for the nation. The reason I am writing to you now is due to my age, my experience and my financial state that would improve significantly if you gave amnesty to college students with loans over $25000. The state of the economy and the way the loan programs work makes it very difficult to ever catch up and I will be dead before I pay it off. Back in the sixties amnesty was granted to graduates. At that time I had managed to not have any loans and paid my way. I managed to get four degrees working the entire time without a need for a loan until I went into the doctorate program. Then I needed loans, and the school was exorbitant in their financial drain without reciprocity. I had had a stroke which made it impossible to go back and complete the degree not to mention the debt I am now in. I have given my last 30 years to my profession with my education and the knowledge gained from the degrees, but not the financial reward. People in the mental health field are true givers and responsible for others lives but never paid accordingly. The last 6 years have been in serving for rural American working with the Native American Tribes and a rural community. Just to apply for some sort of program you would have had to have finished the degree. I had to terminate after the four years due to no longer being able to afford their rates and not being in a position to complete the entire program even after dissertation was on track. It was huge loss, but now with the economy the way it is I am having significant difficulty paying the large amount still owed even though I have been paying on the loan for over 15 years and not making a dent in it. Amnesty for older Americans with substantial educational debt would be great. As I said before, the programs that I could sign up for now will probably no longer exist in ten years and I might not survive 19 years paying down what I would have to pay during those 10 years working for a rural community. It is a good selling point for the next election if Congress would pass it. Many people at my level would be voting for you and appreciate your reasoning since it is old hard workers who have these types of large loan. My loans for the PH.D are over $70000 and I have been paying on them for over 15 years. I would appreciate you giving this some thought even though I realize you have a lot of financial worries for the nation. You do speak to helping us in ways. I believe this would help many Americans. Since I am a baby boomer I have always noticed what I am dealing with is often affecting my fellow baby boomers, and I am speaking for them as well. Please give this some consideration.