<p>I think it is important to remember that the original poster became ineligible for federal loans because of her low grade point. She didn’t meet the federal standards for student loans so enter Sallie Mae. Believe me, this was not an accident. Sallie Mae wants these kinds of clients, it is where they get most of their profits because of the interest and penalties.</p>
<p>This story is so upsetting to me. The original poster borrowed so much money, much more than she needed for tuition and for what? To get mediocre grades at a school I’ve never heard of. I agree with the posters who have said she should have been working all through college to offset the amount she needed to borrow.</p>
<p>But all of this was clear to Sallie Mae when they loaned her money. I hope Sallie Mae has to eat this bad loan and some of the others they have been making. Then maybe they would stop doing it.</p>
<p>You would think that she was expecting all that would happen to her, but: no.</p>
<p>I mean, what was she thinking? Sure, Sallie Mae shouldn’t have kept approving her, but it’s really mostly her fault. I guess she couldn’t picture herself without a $100k job upon graduation.</p>
<p>Anyways, I hope the lender forgives her. She’ll go away with a hell of a lesson for herself and her kid.</p>
<p>Wow, just wow. Not even a sad story, just pathetic. How can someone have such blatant disregard for their life and finances? Especially when the grandmother has cosigned all her loans (and when she has a young child to take care of). Complete neglect on her part. Not working during college? GIVE ME A BREAK!!! I’ll work 3 jobs if I have to, there is no way that I’m going to end up with 20K in loans (let alone 120K). And what is the point of going to school if you are getting below a 2.0 GPA? Seriously? Will you even be able to graduate with a degree? I didn’t know that was possible. Even if she didn’t know anything about taking out student loans (although you’d think that since her degree’s in business Administration she would have some clue about how to read financial forms), there is no way that her loans should be forgiven for such flat-out stupidity. Salli Mae is not at fault. Loans are intended as a means to an end…take out loans so you can first pay for college, then actually be able to find a job and pay those loans off. Well, if you don’t value college (working hard in your classes, showing up and actually getting good grades), you don’t value working (college is supposed to be all fun, parties and booze! Not.), and don’t value filling out financial aid forms properly, it is 100% your fault. Yes, it truly stinks that college costs that much and that so many people are forced to pay loans with incredibly high interest rates, but that is a different problem all-together - you can blame our flawed educational system for that. And all the same, it is completely your responsibility to make sure that you have the means to pay off your debt. Finally, why the heck was she going out-of-state? This makes no rational sense whatsoever, as does the rest of her actions.</p>
<p>Not to change the focus, but here’s another Business Admin grad that thought her degree (with a 2.7 gpa from an unranked school) would be her ticket to a good job. According to the linked copy of the court filing, she also did not work while in school. </p>
<p>I don’t think anyone should feel sorry for her. She dug her own grave by being irresponsible. If you pity her then you are pitying every person that has dug themselves into a hole by reckless spending.</p>
<p>There are a lot of things I find quite distributing about this situation. For one, she’s getting business administration degree. Most business administration jobs only require an associates degree I know this is fact because my mom is a business administrator and she didn’t pay more than $1,000 for her education. Even if she didn’t get financial aid, her tuition would be still under $10,000 for a two year program. Usually when people take out loans that will total $120k, they are usually looking into marketable jobs that will bring them a six figure salary. Even if she did get a job as a business administrator, her average salary wouldn’t be more than $50k. Did she not realize this when choosing her major?</p>
<p>How the hell does your phone bill cost $150? I have two lines with unlimited data and text and I still pay under that. Same with cable and internet. Together it costs me a little under $100.</p>
<p>If she doesn’t have a job then why is she getting a 2.0? If I didn’t have a job I’d focus my attention on school and probably have a 4.0 by now. What is she doing with her time if not working? How can you be that lazy and not even pass your classes? Maybe it’s all the cable and phone she has. Why continue going to school if you’re not making it? I don’t understand why she didn’t get a job either. Extra money is extra money. It’s better than putting it on a credit card or loan.</p>
<p>After a year you can apply for in state tuition. Why didn’t she do this? Why didn’t she apply for financial aid? If her parents refused, I’m sure there is a way that she could use her grandmas information.</p>
<p>Loans are so straight forward, only an idiot wouldn’t understand them. Didn’t she realize that she’ll have to eventually pay the $120k loan off with interest? Didn’t she realize she’ll be paying that off practically her whole life? Usually $120k is the price of a 30 year mortgage, not a student loan.</p>
No you can not in the majority of states. This topic comes up many times on CC and it is very difficult and in general not possible to do this. There are exceptions of course.</p>
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<p>No it is not possible to use grandparent’s info on FAFSA. Only the parents. If the parents are dead then the student is independent and does not have to report any parent info (unless they have been legally adopted).</p>
<p>But the phone, internet bill, $300+ car payment etc etc. Agree = ridiculous.</p>
<p>You’re using rational arguments. I suspect that in general this person behaves irrationally because none of her behavior makes any sense. Why this school when it was so much more expensive than other options? Why borrow so much beyond the tuition? Why not work while she is in school? Why get such bad grades in school when she was paying so much for it? Why have a baby when she is so unable to afford one. Why pay so much for incidentals and nothing for groceries? None of it makes any sense.</p>
<p>I know irrational people and there is no dealing with them. They don’t make rational decisions and they aren’t going to change. Sallie Mae will never get their money back. She made one payment and I suspect she won’t make anymore. I don’t know what happens when people refuse to pay debt that can’t be discharged by bankruptcy.</p>
<p>I have a friend whose husband has a college aged daughter from his first marriage. He has had little contact with the D other than child support payments. When she became a senior, he told her that they needed to discuss college finances. Basically, the way he looked at it, was that he would pay whatever the in state COA was for an in state school less any financial aid she should get. She and her mother would have to fill out the necessary financial aid forms and he would be privvy to the awards each year so that he could pay the difference.</p>
<p>The girl ended up wanting to go to a local private, but live there, and wanted her dad to co sign the loans needed for her to take this option as her mother had bad credit. Dad refused, and reiterated his terms. It turned out to be a miserable, miserable scene.</p>
Hopefully they’ll let her off and blacklist her from all other types of loans?</p>