College Loans Activities

8.12 min. | 4.68 user rating
Millions of students are needlessly paying their student loans which are "under water" -- ie, where the amount owed is greater than the value of the higher education purchased with the loans. Borrowers can't earn enough to pay their student loans and pay for their reasonable living expenses. The borrowers should do what homeowners do when their mortgages are under water -- which is to stop paying their loans, get into a court setting, and negotiate for a reduced loan (in principal amount as well as monthly interest). Attorney Carl Person also produced the first and successful video "Stop Paying Your Mortgage!". Although government student loans are almost impossible to shed in bankruptcy, you can go into court by suing your banks to terminate the student loans on various legal grounds and expect to have an opportunity to settle your case in a way that eliminates or substantially reduces your loan, depending on the facts of your case. Get rid of student loans by stopping payment; suing the banks, and then settling the lawsuit. Stop being an economic slave to the banks.