In January 2015, Marcia DeOliveira-Longinetti’s 23-year-old son Kevin was discovered useless in a house in Burlington, Vermont, the city the place he’d attended faculty at University of Vermont. Authorities later dominated his loss of life a murder.
A yr later, DeOliveira-Longinetti remains to be coping with the aftermath of her son’s loss of life by means of grief, but in addition by means of Kevin’s remaining student debt.
According to the New York Times, when DeOliveira-Longinetti utilized to New Jersey’s Higher Education Student Assistance Authority for loan forgiveness, lenders answered with a flat-out rejection.
In a letter, the company provided its “condolences” for DeOliveira-Longinetti’s loss earlier than reportedly including: “After careful consideration of the information you provided, the authority has determined that your request does not meet the threshold for loan forgiveness. Monthly bill statements will continue to be sent to you.”
According to the Times, DeOliveira-Longinetti has about 92 $180 funds left.
The Times reported that the New Jersey loan company has earned a popularity for being unreasonably inflexible, with particularly excessive rates of interest, fee plans that may’t be adjusted primarily based on earnings and excessive penalties for individuals who fall behind on month-to-month funds. The company has reportedly sued debtors and has the unmitigated energy to garnish wages and seize state tax refunds.
According to ABC News, cosigners of federal student loans want solely current a loss of life certificates to be instantly forgiven for remaining debt. However, each non-public loans and state loans range of their “death discharge protection” insurance policies.
“We’re not going to be poor because of this,” DeOliveira-Longinetti advised the Times. “But every time I have to pay this thing, I think in my head, this is so unfair.”