Dear Obama....seriously

Dear Obama,

There is a crisis in America.  Many news articles and popular opinions have polarized on what to do with this crisis but it is most known.  So for me to sit here and elaborate on the student debt crisis would be futile.

I will, for my own sake and worth, make my situation known to you.  I went to college for more than 4 years, 4 and a half.  So my debt, and my failure, have led to the problem of my personal student loan crisis.  I received over 100k in private student loan debt, which is not the most talked about secondary educational means. And while I have in my own situation attempted to blame my father as I was just a signer to the loans, not the distributor and financial advisor, who was him. 

Is that right, or even lawful?  Without the initial education and advising, financial burdens like this should not be made available.  I was going to elaborate but allowing private companies the ability to issue such debt is irresponsible.  The housing industry, which was an obvious bubble, and proved itself to be just that, made light of this unnecessary financial obligations that were placed on consumers that were well under qualified.

If those individuals, who couldn't meet their housing payments with working careers and more than one income reached the point where a large majority of the consumers failed to meet the terms of the loans that were given to them by irresponsible for-profit corporations, how can students with no established income or credit history be given such burdens?

Student loans are a necessity in a society that has allowed its secondary educational system be turned into what the medical industry is now turning into, private corporations.  These student loans should be regulated and allow for consolidation, interest rate reduction, and, most importantly, income based payments, for private and public student debt.  These, however, are only necessary actions after the fact.  Before, education and advising is necessary and up to regulation and an established infrastructure that should be created by the governmental system in which they reside.

And that governmental system is you, the president. The lawmakers, the politicians, the ones whom the corporations have provided lobbyists in order to sway opinion when public opinion is such little real value.  The opinion and circumstance of the consumer has been devolved in an economy based on consumer need versus consumer focus.  And consumer need is really the result of solely a bottom line profit, allowing for rising prices of those consumer needs.

There is no overarching solution, but there are places to start. 

An honest response is the only place to start that I request of you.

Dear Obama....Student Loan Debt Consolidation

ehhmm.....Private Student Loan Debt Consolidation.

On my main source of news, Yahoo, there was just an article on is debt consolidation and if it is a scam.

I'm sure there are many scams out there, in fact, there have now been articles lately of student loan consolidation programs that are now scams.  Obviously it is a good racket to get into with desperate debtors with little to no options.

What are the options....default?  Well, no, except in the most forgone financial position, in which I have not educated myself with.  But I'm assuming its just about as easy to default on student loan debt as it is to get elected to the presidency, to which I'm trying to write to, but revert back to blogging on.

In a letter, in fact, I would want to address that there are very little options for private student loans offenders, in which, who is in fact the offender.  The consumer or the provider of the product that is only available to furnish the acquisition of a paper?  I'm framing myself, and all private student loan consumers, the offenders since this is a financial means to an end that should not be utilized in any circumstance.  As with any financial debt, there should be a  product of collateral such as a house or an item, but this is solely the futures of all cosigners and debtors as this debt is un-expellable. 

I, at this moment, 7 years into my loans, have paid around $70,000 on the 100k that I owe, while that balance has only decreased by around $10,000.  I have not missed a payment, I have not paid less than the minimum amount, which is, in fact, more than would be of a mortgage.  The rate isn't sky high but it is an average of 7 1/2 percent variable, which is subject to sky rocket upon good interest rates.  I don't know if I foresee that, with a poor economic landscape currently in America, but I, personally, was always used to a bad personal economy.  

I have attempted to consolidate this debt, with a consignor, which was unsuccessful as one requirement was that I make the amount of debt that I owe in a year.  And if that were the case, I wouldn't be sitting here wasting my time on what is a dream of a letter but more of a blog, and even more a journal of feelings instead of cold hard facts.

Consolidation should be available for that very fact, that I am a responsible consumer in that I have not expelled or not paid the debt I have, unknowingly, taken.  I say unknowingly as I was a child of 18 who signed papers that I was neither privy, nor cared, to understand what the consequences of the debt entailed.  But I was an ignorant consumer as is what should be prevented in the future, to not allow this ignorance to keep taking place but order mandatory education, provided at the expense of the loan providers.  This should be enacted, and I'm not aware of the history of the proposal or enactment of such laws.  Which is where this blog lacks.  But, experience, it does not.

So, as I should be allowed to consolidate student loans, I must consolidate this banter.

Dear Obama....Finances and Race

Dear Obama,

I have a hard time not veering this conversation to race but I would most certainly like to refrain from that.  And I am most certainly not referring to your race, to abstain from the offensive.  I'm referring to race in America in general.  But the fact of the matter is it all comes down to economics.  If I, or anyone of any race, had no issues with their local and governmental economy then there would not be a question of race and differences.  But economic differences, more so divides, have been created since the dawn of the necessity for wealth, and thus I assume power, which again could delve into a racial, or more so geographical conversation.

But, again, I want to abstain from that conversation because that is not something I can, or have the authority and knowledge to discuss.

I do have the first hand authority to discuss the adverse financial conditions of the country you deem to run.  Or more so, were elected to run.  I'm assuming the majority are those that make the decisions and law.  That is, the congressional(men(and women) voted to make the decisions) majority. 

But it seems in this country, there is an overarching, media, and popular majority.  Or if not those who are the loudest.  And, while I am that in everyday life, to be that in a global, or at least domestic, capacity, I can, and have not mastered.  But here I am, writing on a blog, and hopefully, one day, a comprised letter from one of those struggling in an America that has, and will continue, to drown its poor and struggling.  The financial poor, in the sense of those with no, or little, income, do have somewhat of a social safety net, which can be even considered my safety net as it is available to all in a certain income bracket, far less than mine.  So, should I be here discussing my negative financial position when there are a large mass with a worse financial position.

That was a comment more than a question, as this is a blog more than the letter I was intending.

My financial situation is well over 100k in student loan debt, but the problem being the private, for profit(similar to the system that is now secondary education), in which these are very difficult to dispose of, or even consolidate and lower interest rates.  This fact seems very contradictory as we as an economic body supporting the economics needs of the region in which we operate would want the debts settled.  Which provides more questions? Is this the goal of the financial institutions that support the lending, without consolidating, of financials deemed for the use of education, which are more often than not with all borrowed, and given, money, abused.

Obama, and me, may one day, and more days than we(both, I assume) care to admit, contemplate these and more questions surrounding education and economy. 

But, hopefully, without the conversation being diverted to race. 

Let's just stick to the numbers.

Dear Obama

I have been wanting to write Obama for some time.  Before I thought it was just to let out frustrations because in reality all the words and all the time spent writing would never result in any action.  The best thing I could ever attempt to receive is the learning and knowledge from the words I could pen. 

Now that is all a little too wordy but all I'm really attempting to say is that it would be a waste of time.  Well, in fact, my wife's aunt decided to write Obama and there was a response.  And, surprisingly, an action.  Whether that action was just a result of already revolving circumstances or due to the letter to Obama, they attempted, and actually, did submit a letter to Obama, which I was under the impression, must be answered, at least by his administration. 

I, actually, was just going through old collected junk, getting ready for a child(as a child, a 30 year old one), and ran across a response I received from Bill Clinton.

I wrote him, in what I can remember is most likely 4-6th grade, which would be around 1996, I'd approximately say(I'm not good with exacts, which is most likely why a blog, and more so a book by myself would not be beneficial for anyone but me.  Then its just a journal of feelings.  I hope not, but I digress).

I wrote Bill Clinton regarding abortion, and as a child was a one thought Christian, and while my ignorance was admirable as I was more of a believer than my current self, in the church beliefs.  But my beliefs or religion are not what I'm currently try to elaborate on.  He responded to my, what I assume to be heartfelt letter, with an impassioned, as well, and, what felt like, personal response.  It was, in fact, someone else, one of his secretaries/advisories/interns(;p), but it was a response and it felt personal.

Now, if Obama, and I assume he will, would provide that, would I feel any better?

Maybe? Doubtfully.

I need to, however, write him to show him a personal story of student loan debt oppression.  We all have financial difficulties, but is one, that was chosen without full knowledge and educated devising, that should cause a lifetime of financial responsibility for nothing more than a piece of paper and limited knowledge.

I assume there will be more facts in a letter to Obama, but I just have to get over the wonder, and time availability to sit and do it, and commit to it.  When it may, in fact, mean nothing.