Help a student in need
Nathaniel newman stashed this in The World of Tomorrow
Hi everyone, I am trying to keep this student on track to graduation. There are 2 classes she needs to be able to be a senior in her university. If she can't get the funding for this coming semester, her student loans will require payment before she graduates. With 3 kids and a job to support them, she won't be able to finish her degree and pay the student loan debt.Here's where we come in, if we can directly support her with money and indirectly support her by sharing this, we can keep this one student out of the financial crisis that many college students find themselves in. Her major in social work is a very important job in Michigan which is among the states that were hardest hit by the recession, and the communities are in need of more social work professionals. Together we can keep this working student mother in college and on course for graduation.http://www.gofundme.com/ongpec
Stashed in: Crowdfunding
She seems great so her situation makes me wonder about the failings of the student loan system.
If ever there were a good candidate for an additional $5k in student loans, it would be this woman.
Why is our system failing her so that she has to crowdfunding the money?
Why is our system failing her so that she has to start paying her loans before she's done with school?
And is the future of the education system such that more people will have to crowdfund their tuition?
she has 5 years before the loans must be paid from the time that they are taken out, however the classes she must take won't be offered again before the 5 years is up, the student loan system is a money grab in my opinion, the interest rates and compounding of the interest is the worst system I have ever seen. I have many engineer friends who have loans that compound interest daily, it's just a very lucrative system for banks and not properly regulated.
I know you, Adam, are a super-connector, others on this great site are also. That's the reason why I posted it here. Every donation helps and I was hoping if you can't help financially, you'd help by spreading the word more effectively than I possibly can.
Thanks for the explanation.
Forcing students to start paying off the loans 5 years after they're taken out seems unfair.
But it seems even more unfair that she cannot get the final loans she needs to complete her degree.
Is there no financial counseling in her school?
It would be good to figure out a way to work with the system to fix her problem.
Crowdfunding is not a scalable solution because the next person who needs $5000 will have to scramble to do the same thing. There's got to be a better way, doesn't there?
She's a student and has a short credit history so they will not extend more credit to her even knowing the situation.
Legislation is the only solution. Banks are in bed with lawmakers but the popular opinion against these predatory lending tactics is bringing this to the forefront of the American consciousness.
Some want to forgive student loan debt, but the real issue is the continued issuance of loans with offensively high interest rates.
Wow, I wonder how many other students are in the same situation as her...