Sallie Mae Unraveled a Lifetime's Work In ONE year Destroyed My Life Wilkes Barre Pa 18773Wilkes Barre Pennsylvania

It all happened so fast I don't know here to begin.

Long before my father died, college was always a dream of mine. After his death I learned that the 'college fund' he had always told me about did not exist, which was a hard thing to cope with since I ALWAYS dreamed of going to college.

The hardships my family and I faced in the years that followed forever changed the people that we once were; however, college stuck. Since I was in the fourth grade I have always known that my dream college was the Art Academy in San Fransisco.

During the first month of my senior year I began my symptoms of what I would later learn was narcolepsy. In no time at all I went from sleeping an average of 8 hours a day to sleeping anywhere from 15+ hours a day. I would fall asleep standing, showering, eating, talking. I could not drive let alone go to school and function as a normal person. My life was taken away. I decided to continue my education at home with a home school teacher. My dedication allowed me to catch up and graduate on time with distinguished honors. But I never applied to my college, it was too far away from my family for now but I still needed to go to school so I decided to take a tour of my neighbors school Allentown Business School.

Besides being taken for a fool at Allentown Business School, the financial representative that I was assigned with to find my funding for school never offered me an option on which company I could take my loans out with. they made it seem as though filling this particular form for the loan was the only way I was going to be able to go to school since at the time I had no financial support from anyone.

So I took out 2 CEC Singature Loans with Sallie Mae for a grand total of about $14,000.00 in September of 2003. I was told that the interest rate 'had no changed in the past 30 years. It has been at 2.3% and is expected to stay that way but should it change it would only be about a point or two.' I was also told that 'I could expect my payments to be in total about $75 a month (which I knew that even with a rinkydink job I could afford)' Okay well I began repayment in 2005. It has been 2 years my interest rate has no cap at its interest is currently at 19.125% and it expected to be 20% by July 1, 2007. The principal is not a whopping $23,000.00 and going up. My payment (which can not afford) are a little over $400.00 a month (which is also more than my rent).

Sallie Mae gave me 24 months of forbarence time over the lifetime of the loan which is 30 years. You are allowed to use forbarence time 6 months at a time @ a rate of $50 bucks a loan (so I pay $100) and interest adds up and is applied to the principal and so long story short forbarence doesnt buy you time it digs you deeper in the hole.

So, my first semester at school I made the National Dean's List for my academic achievement. That only lasted for so long because before I knew it the narcolepsy took over. I was sleeping 15+ a day, not attending classes and when I did I was asleep. I could not complete homework assignments, I was in 2 automobile accidents due to falling asleep while driving the 7 Minute drive from my apartment to school. I spoke to my student advisor and was advised to apply for reasonable accommodations. This was suppose to grant me extra consideration when it came to being penalized for latenesses, supervised testing since it was difficult for me to complete exams without sleeping, use of a tape recorder so that I would not miss lectures while my symptoms flared etc. I was told that I needed documentation from my doctor supporting these accommodations as well as documentation about my disorder. I did it all. As a matter of fact, my doctor advised me to take a medical leave from school half of my credits and I was told to give up.

A few weeks later I was denied the accommodations. Without the support of the staff regarding my condition not only did I want to leave Allentown Business School but they had also given me no choice. I was already on academic probation for my grades dropping and now i was more that sure I would fail out. So I took the advice from my doctor and with her help I singed out of school because of financial hardship (oh yea, I couldn't get a job because I fell asleep during job interviews) and medical disability.

Since Allentown Business School, my medical coverage does not recognize my disorder as a disorder. I cant drive so I work at a restaurant down the street from my apartment where I make minimum wage so I work as much as my body allows me to but that's not enough. I am considered low income under federal loan standards so I am not being forced to pay them but I do and I have paid 2 of my loans off (because I do intend on paying what I owe but their interest rates are 3% for life), I receive assistance from the state, I am severely in debt and I am only 22 years old.

Sallie Mae does not offer consolidation (the only way to lock a still high but lower interest rate) unless you have a diploma from your college REGARDLESS of the reason including my own. I have used up all my forbearance time because I have no other choice and in October if I cant make payment to them they will start garnishing my wages and taking 25% of my income. Sallie Mae would rather take the roof over my head and the food from my mouth before they would consolidate the loan.

I have written to the attorney general and received no response. I have sent a personalized letter to Sallie Mae's President with proof of financial hardship with literally dried tears all over it and received no response. I have contacted financial counselors and they say they can help but they need $400.00 first. I have even gone to the extreme as to beg friends and family to help with no reward.

Now Sallie Mae wakes me up at 8AM every single morning with their automated service telling me 'please call if you are experiencing financial hardship we are here to help, you have options.' I call and they literally tell me and I quote 'Sorry we cant help you'. They call every 15 minutes or so until 9 sometimes 930PM 7 days a week. They have defecated on my credit report so not only can I not take out a personal loan to take care of this but I also can not have credit cards or buy a home or a car or ever go back to school. I have no family that can assist me in any way, I am completely alone and once Sallie Mae begins taking 25% of my income I will also have no place to live.

Although it is impossible, I continue to have faith that one day I can start my life again. I will exhaust every option and create new ones. I will not rest until I am heard

Wendy
Hamburg, Pennsylvania
U.S.A.