At Age 70 I will still have Student Loans to Pay-OUCH!

[GoNightingale]

Hi everyone! I'm 55 and became an RN 2 years ago. At age 70, I will still owe Sallie Mae thousands of dollars as well as Stafford Loans. Does anyone know what Sallie mae's stand is for retiree's who can no longer pay student loans due to a fixed income? How about the Stafford Government loans?

Any insight will be helpful!:redbeathe

[tyvin, BSN, RN]

I am sorry to hear about your trouble.

Military is out due to age.

I give a grave warning to all; don't borrow.

The Pell and other federal monies can get you through.

Eons ago when I went to school (a very spendy university) loans were handed out like candy. Credit cards magically appeared in the mail urging a nice wardrobe to insure advancement.

Yes, it's my own fault but I wish they would've made a better effort at loan counseling other then sign here. I know these days they do.

And make no mistake; you could be crawling out of your grave and unless you flat lined they will come after you for the loan money. They will garnish your checks be it payroll. disability, SSI etc...also they confiscate your tax returns and any other monies you receive.

Sure send me to a reservation to work them off but in reality have you ever known anyone who's done it? Send me the info cause I'll do it. I will be paying on my loans until I am 97. Unfortunately I will live that long. You see I've had a few irritated loan people tack on $15,000. late fees taking my total up to > $100,000. owing to Uncle Sam. To think I only borrowed $22,000. And they wonder why I'm not compliant.

I print this story as a stern warning to all; yea sure there are many of you out there saying she deserves everything she gets but I have always been a responsible person on all else except this matter. This has turned my life into a nightmare to the point I can't get anything without good credit. Even though they're garnishing my check my credit score continues to be bad. They say when the loan comes down to a certain point they'll fix my score (thanks but you've done enough already).

[GoNightingale, BSN, RN]

Thanks so much for this "ray of hope". I was not aware of this new law. It will be interesting to see how it plays out in 2017. Certainly worth pursuing!

Thanks again!

[GoNightingale, BSN, RN]

Tyvin, I hear you loud and clear! All we can do is the best that we can do!

Keep on truckin!