We definitely need protection from private lenders, including student loans, ever since they removed consumer protections on private student loans in 2005, the whole college industry had successfully increased tuition by 40% and people are seriously falling behind their payments, and have no hope for the future because they cannot start fresh like any other citizen with a house, a car and a yacht. Why should an individual who wanted to better him/herself with an education be penalized for failure to keep up steady income in those tough economic times, while an individual who has millions of dollars in gambling debt, 3 yachts, 5 expensive cars, 2 mansions just simply walk away from all the debts in bankruptcy and start over?! Where is the justice in that?

Looks like “Fairness for Struggling Students Act” doesn’t want to become fair after all, its okay, we the struggling students can live on the street and forget about pursuit of happiness because millions of us were lied to.

Congress has got to do something about these student loans. I was a naive student, thinking that degree would miraculously land me a great job and I would be able to pay down those loans in no time. WRONG. With the job market like it is, I was lucky to get a job through a temp agency paying barely over minimum wage. I have since gone on full time and got a decent raise in the process, but I am still paying HALF of my net income to Sallie Mae. This is after agreeing to an extended plan, so I will now be paying on this 30 years. With nearly $120,000 ($40,000 of which is interest, I might add!) in private student loan debt, I might as well have a mortgage! And this isn’t even counting my federal loans! How can anyone be expected to live like this? I am nearly 27 years old and am still living with parents because I can’t afford to go out on my own. I honestly think I would have been better off going straight to work after high school. God Bless America, land of the cheats!