1776Forever
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Tue Jan-27-09 01:49 PM
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Can someone who is on Social Security & owes Student Loans help me out here please? |
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I just contacted my Student Loan company and told them I am only getting $674 a month and wanted to know what % I will have to pay on my Student Loan and they told the entire amount - right. Does someone know if there is a law that states they can only get a certain percentage? I thought I heard about that somewhere before. I do not have any time left that I can defer the payment.
Thank you DU!
:fistbump:
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EFerrari
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Tue Jan-27-09 01:52 PM
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1. I thought I heard that, too. Isn't there a social worker at the SS office |
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that might be able to help you find out or are they extinct?
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truedelphi
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Tue Jan-27-09 01:52 PM
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2. Are you on Social Security retirement or Social Security disability? |
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Edited on Tue Jan-27-09 02:30 PM by truedelphi
I have heard via news articles that people are having their entire Social Security check diverted to Student loans re-payment - not voluntarily, either.
If you have a disbaility, you might have an indefinite amount of time to stay on deferment - but I really don't know for sure. You might have to prove that your capacity to work is diminished by your disability.
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NoQuarter
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Tue Jan-27-09 02:02 PM
Response to Reply #2 |
7. Discharge of the debt is possible. |
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Edited on Tue Jan-27-09 02:05 PM by NoQuarter
An acquaintance of mine who is on SS Disability has, with the help of a pro bono legal clinic, had $15,000 of student loans fully discharged.
Since I only see him once a week, I can't get details right away, but any legal clinic worth its salt should know what to do and be able to help you with this.
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Why Syzygy
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Tue Jan-27-09 01:55 PM
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Edited on Tue Jan-27-09 01:57 PM by votesomemore
but they, and the IRS, can garnish (levy) 30% of your SS payments. Have you exhausted all the time lines they will give you for being out of work and or sick? If you are disabled, you can have a doctor certify to such (they won't take the word of the SS) and then and only then will they not do everything within their power, up to and including seizing your income.
Before I got my loan, the student counselor strongly tried to dissuade us. He said it could ruin your life. He wasn't lying. We should be telling all students that the current student loan system is a man eating Beast.
Last February, I paid the loan company $400 to establish a payment plan. They still went ahead and garnished my SS payments the VERY NEXT MONTH. The guy told me I needed to make the regular payment anyway! I could not, would not. They take $150 per month, right off the top. The statement they sent me indicates I paid $869 in INTEREST last year.
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notadmblnd
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Tue Jan-27-09 01:56 PM
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4. I would give social security a call |
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they should be able to answer it for you. I do know a guy that is getting SS and still owes child support. Thye do only take a certain percentage of his SS$'s but I don't know how much it comes to.
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MassNssen
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Tue Jan-27-09 02:01 PM
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5. such a difficult situation. |
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such a difficult situation.
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Tansy_Gold
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Tue Jan-27-09 02:02 PM
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They can't take disability payments, but they can take up to 15% of regular social security payments IF the monthly payment is over $750.
Or it may be that they can only take 15% of anything OVER $750/mnth.
I got most of my info from the social security and related websites, but you should be able to call SSA and find out for sure.
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Why Syzygy
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Tue Jan-27-09 02:10 PM
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9. They can and do take disability. Everyone |
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should write our lawmakers about this. I have not.
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grasswire
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Tue Jan-27-09 02:05 PM
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8. isn't there a hardship provision? |
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please do contact your congressman about this if you get no satisfaction. Write a personal letter on paper and send it to his/her local office.
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chaska
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Tue Jan-27-09 03:08 PM
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10. Book: 'The Student Loan Scam:' By Michael Collinge. Just released. |
1776Forever
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Tue Jan-27-09 05:04 PM
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11. Thank you for your time and telling me about this book - there is a website too - link here....... |
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StudentLoanJustice.org Here is a snip from their site: In 1997, under intense lobbying from student loan companies, the Higher Education Act (HEA) was amended. Read more here: http://www.studentloanjustice.org/problem.htm
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chaska
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Wed Jan-28-09 02:54 PM
Response to Reply #11 |
14. Thank you for reminding me to check to see if it's out yet. Just ordered it. |
ThomWV
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Tue Jan-27-09 05:06 PM
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12. My wife still owes (and is delinquent on) student loans and receives SS |
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The don't take a dime of her money, never have.
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1776Forever
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Tue Jan-27-09 05:12 PM
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13. I hope for her sake they never do. I am trying to learn more - I am posting a new link |
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Edited on Tue Jan-27-09 05:23 PM by 1776Forever
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philk17088
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Wed Jan-28-09 03:12 PM
Response to Reply #13 |
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Why can't you pay the loan back? Did you go on SS after receiving the education? Can you work at all? You should make every effort to pay back the money you borrowed. You promised to do that when you signed up for it.
I would go right to a SS office and get all the facts and what rights you do have and what your obligations are.
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sohndrsmith
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Wed Jan-28-09 03:14 PM
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16. Wait. That's INSANE! This is the sort of thing that just gets me so |
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angry. I hope you're right (that they're wrong). Just because you have a student loan, they assume you're instantly free of your disability and that its reasonable for you to live without it?
The loan company doesn't care, and they're likely trying to get as much out of people as they can because a lot of people do default on their loans - not surprising to be fresh out of college and not immediately flush with success. It's an unworkable system.
I hope you do call the SSA or if anyone or any agency helped you with your disability claim, they might be able to help you through this too. If you make an effort to pay something, I would be surprised if they could penalize you somehow...
Good luck and you're a good example for all of us. Thanks.
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