Reply to I owe $125,000 in private student loans to one institution. How to get them to settle?

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Reply to "I owe $125,000 in private student loans to one institution. How to get them to settle?"

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[quote=Anonymous][quote]Her loan payment is $1800/month, she works full time, and has a child. She probably physically cannot repay her loans. So it's really on the school/lender because they were the ones who made these unrepayable loans to her. I have NO problem with the lender being hurt here. I'm sure that people like OP would love to have their loans restructred to an affordable level - they don't WANT to be deadbeats - but she looks like she doesn't have any other option. [/quote]

This is exactly the argument that was made about home loans during the housing crisis.  It drove me nuts then, and it drives me nuts now.

First off, they are not unrepayable.

Second, why should the lender suffer, and not OP?  OP has already said she is proud of herself (and she should be, so far) and she never could have gotten this job without the loans.  Assuming that's true (and there's no point in going back and second-guessing her decisions, what's done is done), she has gotten a significant benefit from those loans.  She wouldn't be a nurse otherwise.  So why shouldn't she have to pay for it?

Third - your post suggests that you think OP shouldn't have gotten the loans.  Is that correct?  Would she be better off if she hadn't been able to get the loans, and had to find whatever job she could with her GED?  OP, would that have been preferable?  I'm guessing it wouldn't.  So . . . if you don't regret the education, and the job that followed, you really have no justification for defaulting on the loans.

PP, what you seem to be saying is that OP got the benefit from the loans, but you know, it's HARD to pay them back, and she has a kid, so she shouldn't have to.  But she absolutely should take advantage of the benefits of the education she got.  That makes no sense at all.

I am a lefty, lefty liberal, about as far from a right-winger as you can get in this country.  But there has to be a modicum of personal responsibility.  
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