State Board of Education

Its come apparent that I will not be able to attend the forumn, as it was yesterday....
There is a Nov 5th deadline to send in comments. Not quite sure what they consider 'comments'
but I'll take it as a letter....

Dear blah blah,

My name is Zachary Chick; I am a December 2006 accounting graduate of Penn State. At the present, this 'average' field has given me employment despite the broken economy, but I am with an option on how to handle over $100K. I did take 4 and half years; I did study abroad; there was one summer semester as well. But to come out of it all with $100k in loans to private banks because the same tactics that were used in the mortgage industry were used to lore me. All throughout the process, I was aware of the enormous debt that was adding up. However, my parents and I were never aware of the responsibility of these binding debts, that, with current law, cannot be declared in bankruptcy. And that is and never was my intention; I pay every month as required, the minimum unfortunatly and obviously, since its about half my pay per month. All throughout this and to now, I have and will obviously be average 'middle class Joe', as the current canidates are putting it; but I very much feel that there should be more government mandated programs for better access to loans with less interest rates and better time tables on how to pay back fixed-rate loans at raising rates, maybe salary-induced or by the year after graduation. Also, to have mandatory counselors assigned to someone, for example, that has over or is in the process to being indebted in to borrow over $50K. I just throw several programs out there that to give an example of government action that took place. Even government loans have so many restrictions; myself, I was only granted around $6K from the government, which do in fact have better programs attached. One could postpone these for 'X 'number of years, there is better access to consolidation programs, and the interest rates are relatively lower. This private student loan industry went unregulated behind the drive of the mortgage industry boom.

I will provide figures later....


I'm done, I have to compile a professional version of this, not just sit here and blog it.

ha, I'm not professional.