*As many of us know, the student loan business has become a big, unforgiving, setup for failure. And today, a multitude of college graduates, young and old, continue to struggle with the burden of balances that never get any lower, due to the high DAILY interest rates that eventually become part of the principal.
After a while, your loan has become so huge it is unrecognizable to you. Former students have filed bankruptcy in an effort to get rid of the loans. No dice, says Uncle Sam. Bankruptcy does not erase your student loan. And now, one agency in the state of New Jersey wants you to know, not even your murder will release the debt.
Nope. I wouldn’t joke about something this serious.
Kevin DeOliveira, the son of Marcia DeOliveira-Longinetti was murdered last year. And even amidst her grief, the single mother kept busy helping the police gain access to her son Kevin’s phone and email. She cancelled his subscriptions, credit cards and bank accounts; and arranged his burial in New Jersey.
Thankfully, when she called about her son’s federal student loans, she was met with sincere condolences and a promise that Kevin’s remaining balance would be written off.
This, however, was not the case when she contacted the Higher Education Student Assistance Authority – a New Jersey state agency that had also lent her son money.
Read more and watch the video at EURThisNthat.
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