student loan debt

[Guest guest]

I hope this is not too off-topic, but I think it is of interest to

those of us acupuncturists who are dealing with crushing student loan

debt from acupuncture school (and the tuition costs keep rising!).

 

Most students consolidate their student loans without knowing that

they will not be able to re-finance in the future. That was certainly

the case with me--I had no idea I was signing away my right to

re-finance. I have been in touch with thousands of people from all

over the country in a similar situation through the website

www.generationdebt.org. We have been trying to get legislation passed

that will ensure that open market forces control the interest rate of

student loans just as they do mortgages and other types of loans.

 

We actually have a chance to do this now in a bill that is before the

Education committee.

 

I ask that you please read the information below, go to the Generation

Debt home page and write to your Congressman in support of this bill

(especially now if your congressman is on the Education Committee, and

later if it goes to the full house, to all congressman) I thank you

for your support.

 

" We are excited to find that Congressman Wu Succeeds in Amending H.R. 609!

Congressman David Wu (D-OR 1st) Successfully Amends H.R. 609.

" Congressman Wu succeeded in amending H.R. 609, the College Access and

Opportunity Act of 2005, to include several of his higher education

priorities. H.R. 609 amends and reauthorizes higher education programs

receiving federal dollars. It was marked up today [July 14] in the

Subcommittee on 21st Century Competitiveness.

***

The subcommittee adopted the core provision of H.R. 1029, Congressman

Wu's Student Loan Fairness Act which repeals current law denying

graduates with a loan from a single lender the right to seek out the

lowest cost consolidation loan. Just as families have saved money by

refinancing their home mortgages, graduates will be able to

reconsolidate their student loans with the lender of their choice,

taking advantage of historically low interest rates. "

!!!

A webcast of today's continued markup session can be viewed.

Swing into action, folks! Write and call your Congressional

Representatives and ask them to support H.R. 609 with Congressman Wu's

amendment attached. This bill could go to the House floor as early as

next week, so the time to act is now. Concentrate immediately on those

representatives that are Committee Members, then contact all House

members once the bill is out of Committee. Congressman Wu's H.R. 1029,

the Student Loan Fairness Act, is the former H.R. 2711, the bill we've

always supported. This is what we've been waiting for, so let's mobilize! "

 

 

Lisa Marie Price, M.Ac., L.Ac., Dipl.Ac.

Board Certified Acupuncturist

 

Healthpointe Wellness

(301) 315-0020

www.healthpointe.biz

 

Offices in Rockville & Burtonsville

[Guest guest]

yoginilm wrote:

> I hope this is not too off-topic, but I think it is of interest to

> those of us acupuncturists who are dealing with crushing student loan

> debt from acupuncture school (and the tuition costs keep rising!).

>

> Most students consolidate their student loans without knowing that

> they will not be able to re-finance in the future.

 

Hi Lisa Marie!

 

I don't recall seeing you post anything else ever, for a first effort

you certainly hit a nerve. The US government encouraged us to enter this

field, indeed, made it possible, but now their policy drives us into

bankruptcy. Inconsistent at best.

 

If you can't pay it you can't pay it. Let them deduct it from your

welfare check. If you can pay it, you are fortunate and you should feel

blessed.

 

I have never paid anything on it, legally, in seven years. The law says

if your income is less than a certain formula (read your contract, it

may be different for you) you either get a deferment or forbearance. My

income has never been over the line.

 

Regards,

 

Pete