I am in major trouble

[5556]

I have nearly 6k in loans that I CANNOT pay. I have 1 month left of deferment or whatever. I did NOT finish school by the way, I failed out 3 times. I was having mental problems. You know, depression, anxiety, decision making problems, all documented by a psychiatrist with a PHD. The first time the school took away my aid, the doc sent a letter to the dean explaining my situation, and I was approved for aid once more. That was after my first year of not earning a single credit due to me simply not going to class, all due to my problems, basically I was not competent enough to function in a class room. The next semester, which was my last, I had the same problems, and they were worse. Once again I failed out due to not attending class. I was even admitted into a psyche ward of sorts to address my issues and find out what was wrong. They confirmed my depression, but really I didn't want them to know of my other problems, as I hate talking about them to strangers. My psychiatrist once again sent a letter to the school explaining my problems, but that time it was denied. I have not earned a single credit because of my issues, I was on meds this whole time, aaand, they could never find the right medication for me. That is why I kept having these problems, it was like my body would no respond properly to the meds. These problems only arise when I am in a classroom, I cannot handle the stress and pressure of college, I am better off simply working. I don't mind hard work, I just hate all the pressure of studying, test taking, GRADES, my god. I mean any test you take for a job is just pertaining to your work and is not nearly as hard as college. I can deal with that. I am off my meds and no longer seeing the doctor as my medical insurance ran out due to me not being in school anymore. I am fine, as I am not under the stress I was under before, though I still get waves of depression from time to time. All of this is documented by a doctor, in my records. Even if I don't have a case against Sally Mae, I would still like to know if they are being sued or investigated for anything that might get their license revoked, causing them to shut down. I have no way to get a job, as I have no car. No one I live with has a car, other people are paying our bills and buying our food, I am unemployed, have not worked in two years, and there is no public transportation where my current residence is. I CANNOT get a job. I really do not have any friends who can take me to work even if I had a job. I am royally screwed if I am still forced to be responsible for these loans. Seriously, I know this sounds strange, that I have no way to get money, but I do not. I don't even have a bank account anymore, I am flat out broke.

[creditcardfree]

I'm sorry you are suffering. Is there a way to find work online, something legitimate that you do not have to pay for? Can you clean a neighbor's house, mow their lawn? Not all jobs are far away!

I would guess that after deferrment your loans will go into default if you do not pay. Sallie Mae is a legitimate company and as far as I know is not going away.

If it is a federal student loan, your wages and tax returns can be garnished for payment, I suspect.

I think you really need to think outside the box for employment. Income is the only way out of the mess you are unfotunately in.

[5556]

And that is just that, I do not even know how long I will be staying where I am at, I could be homeless in a month! I do not have a stable life right now. I do not want to be their slaves for the rest of my life.

[happygirl]

I would recommend you contact your local Dept of Social Services. Many have programs that provide transportation to and from work, job training programs (although that may not be an option for you) and assistance with housing, temporary cash assistance etc.

If you think you may be homeless soon, I would look into where the shelters are in your area now so you can head there if needed. Many shelters can help link you to programs that would assist you with finding employment.

If you are seeing a psychiatrist, you should have access to a social worker who can also help link you to community resources.

I don't think you should try to get out of repaying the money you legitimately borrowed. You just may need to go a less traditional route to repaying what you owe. Good luck.

[minnie1928]

Originally Posted by 5556

And that is just that, I do not even know how long I will be staying where I am at, I could be homeless in a month! I do not have a stable life right now. I do not want to be their slaves for the rest of my life.

In the scheme of things, $6000 will not enslave you for life. However, at this point in time that loan should be the least of your worries. You need a job, any job. Walk dogs, mow lawns, house sit, whatever. There are plenty of people without college degrees that work. Get a bike, ride to a job. I'm not saying it will be easy, but you need a job...it's just that simple. Do whatever you need to do to make that happen. Get creative, call Social Services, churches, etc. You say you might be homeless in a month. Don't wait for that to happen, do something to prevent that from happening.

I am not saying these things to be mean, so please don't take them that way. I really do hope you find a way to make it all work out.

[creditcardfree]

Originally Posted by happygirl

I would recommend you contact your local Dept of Social Services. Many have programs that provide transportation to and from work, job training programs (although that may not be an option for you) and assistance with housing, temporary cash assistance etc.

This is good advice. And I agree with the previous poster who said the student loan is the least of your problems. Get well, find food, shelter and a job. Once you are in a better place you can deal with the student loan debt.

[Radiance]

5556, Sorry you are going through such rough times.

I concurred with the advise given; take care of the basics such as shelter and food first.
Do reach out, there is more free help available than you imagine.

I wanted to add, look for FREE support groups in your area.

I also wanted to add, for your kind consideration: I see you are working with psycologists with PH.D. an such but I can tell you that I have personally 'diagnosed' with weird stuff like depression, bipolar and more. I never bought into any that and I have been able to build a happier me by reaching out, worked hard on self development and self discovery, self awareness.

Same can be said about some of my friends, family and members of the support groups I found. Therapy is not always the solution, or at least it is not the only solution if you are willing to take ownership of you health, which is simple but not easy.

Just something to consider.

As per debt, it comes and it goes, try not to kick yourself for it. I am on my third, and hopefully last, path out of debt.

[MomEsq]

Your first priority should be to take care of yourself, and not to worry about the student loan.

That said, you do have some options: there are several deferrment options, up to 3 years, for various conditions: unemployment, disability, and financial hardship. If you are found to be permanently disabled (some mental health illnesses may qualify you), and the disability prevents you from working, you may be able to have the student loan cancelled.

Students who withdrew from school or never attended classes can generally receive a refund for the portion of the course they did not complete.

Also, there are programs that will cancel your student loan debt in exchange for volunteer committement. I believe the Peace Corps is one of them.

If this is a federal loan, the office of the Ombudsman is the first place to look for help: (I can't post the link here because I'm too much of a newbie under the Forum Rules - you can google it) You can also check out the Student Loan Borrowers Assistance Project: (same stipulation).

Good luck.

[5556]

I appreciate all the help, I really do. I found out that I have less time where I am living than I thought. I am trying to find another place to live, trying to find someone who will let me room with them. I have a zune, a PS2, a bunch of games, controllers, and a cell phone. All of that I can sell and get money to give to whoever will let me room with them, and hopefully it will be enough to fund a job search if I can even find anyone to move in with. My parents are bent on preventing me from moving back in with them, and I can see why, they want me to learn how to survive, which I am learning. I have matured a lot since I first moved out just a short..4 almost 5 months ago.

[amarowsky]

Originally Posted by creditcardfree

I'm sorry you are suffering. Is there a way to find work online, something legitimate that you do not have to pay for? Can you clean a neighbor's house, mow their lawn? Not all jobs are far away!

CHA CHA, is a text message question answering service. People text you and you basically are paid to navigate the internet or other means of information to provide an answer to the question. You don't technically work for the company, you are considered a contractor, there are minimum requirements that you must have (computer related but very easy to obtain), pay ranges from $3-$9 and hour (plus other bonuses), no work schedule you simply work when you want to online, and this is definitely a decent job that you can work all day if you want to.

Here is a link with FAQs about the job, in the upper right corner you can sign right up and become a Guide.

FAQ’s | ChaCha

It's a pretty decent way to make some money for just sitting around at home. Sorry to hear about your situation, I hope you can persevere though hard times.

[amarowsky]

scratch that they are not currently hiring, but that is a definite option if you want to keep your eyes peeled for when they are hiring. sorry to suggest something that is filled up right now : /

[maat55]

In most cities are a womens homeless shelter. In many cases they may have training classes for getting established in a job and place to live.

[Joan.of.the.Arch]

I didn't notice anything indicating 5556 is a woman. At any rate, there are men's shelters as well.

[arthurb999]

Can you move back in with your parents or any family?

You NEED a job... if you have to walk an hour each way to your local McDonalds... then so be it.

There is really no way to get out of a student loan... except pay it.

[inneedofhelp]

You should call your loan provider and you can request an additional deferment or a fore bearance. they may ask you questions about your income and your bills, but these are tough times and they are willing to work with people.

I also second the suggestion of seeking out a non-profit organization in your area that deals with health and psychological services for free. Your peace of mind and mental well-being is first before your loan debt.

[spock0149]

Sorry to hear your bad news. A lot of loan and credit card companies will settle for quite a bit less to avoid debt collection.