Is it Constitutional? That's a broad question but in the main I don't think the people who wrote the Constitution or Declaration of Independence had this in mind when they wrote those documents. How do student loans fit into "life, liberty and the pursuit of happiness?" I suppose for the "bondholders" who fund HESAA they are happy as they lunch on caviar and champagne while we toil for pennies on the dollar. But enough from me, here's the email I received.
Thank you for your hard work helping students. It has seemed lately that those who were heading the fight against this injustice have gone quiet. I've begun to lose hope.
We all have our student loan stories. Mine was that during college, a couple doctors prescribed antidepressants to me for about 4 years. Little did I know, two of the side effects were erratic behavior and memory loss. After finally getting off of the medication, I found that I had taken out $100,000 in private student loans and $30,000 in federal student loans to attend a state school. My degree? Sociology. I have no recollection of applying for or taking out the majority of these.
I recall taking out the first $10,000 in private loans and I remember taking some kind of online class in order to be eligible for federal loans, but I do not remember taking out any more than this. Imagine how I felt when I found that I was $130,000.00 in undischargable-in-bankruptcy debt when I woke up from my medicine "coma" one day. Frankly, if I did take these loans, I do not believe I was of sound mind to do so. I think there is some kind of error though because I have nothing to show for any of this money besides my degree which did not cost $130,000 because I was an in-state student at a public university. Apparently I have no recourse for any of this. My life has never been the same. I'm almost 31 and I have no idea when or if I will ever be able to have children.
I really hope that we can expect some kind of restructuring or justice here. It is devastating that a teenager can make decisions in good faith that can destroy their future for the rest of their lives. How is this constitutional?