InXX/XX/XXXX I started my last semester at XXXX XXXX XXXX XXXX. I met with the financial aid office to confirm the details on the private loans I borrowed. I inquired about consolidating the private loans and they referred me to get in touch with the lender/servicer.
In addition, around this time, I experienced personal family issues that affected my academic progress. I inquired about withdrawing from the courses but the deadline had passed. Low grades for the last two semesters affected my overall GPA. I left the school with a low GPA and did not return.
By XXXX I received notices for the repayment terms on the private loans. I contacted the lender, XXXX XXXX about options for consolidating. I was informed by the rep on the phone that private loans were not able to be consolidated at this time. I returned to the school and was very upset. The interest rates on the private loans were high ( 13.25 % ) and variable. I would have never agreed to these loan terms if I could not consolidate and get a lower rate for the repayment period. I was accustom to this practice when dealing with my federal loans. I was aware the interest rate on the private loans would be higher but still a reasonable rate ( less than 10 % ). At this point, I focused on getting more work and contacted XXXX XXXX on a regular basis till I was able to consolidate the private loans.
My first payment was {$900.00} per month. I could not afford this. I started applying for jobs in XXXX XXXX - I prepared over 25 resumes ; there was no work that could make the loan payment of {$900.00}. I stayed with my current employer as a XXXX XXXX XXXX XXXX making on average XXXX per year. I applied for forbearance on the private loans to prevent default.
XXXX XXXX XXXX  XXXX XX/XX/XXXX - XX/XX/XXXX *original loan documents are in storage overseas ; I will have access to them when I return in XX/XX/XXXX - these figures were acquired from notes I had stored in my calendarXX/XX/XXXX Forbearance in 6mos intervals {$150.00} fee for each request - all requests approved Loan details - original loan amounts before interest capitalized after courses were finished cosigner : family member XX/XX/XXXX {$5100.00} 9.25 % # XX/XX/XXXX cosigner : family memberXX/XX/XXXX{$45000.00} 13.25 % # XXXX XXXX XXXX borrower : XXXX *missing information - guess {$24000.00} XXXX  XX/XX/XXXXPrivate loan approved for consolidation with cosigner : family memberXX/XX/XXXX XXXX XXXX XXXX paid in full {$100000.00} XXXX  adjustment {$100000.00} Once the loans were consolidated the interest rate fell below 10 %. I was unable to make payments of {$1200.00} per month. It took me a few years to plan and take action. I could not pay this amount and was unable to find work making more than XXXX per year. I lived in a shared house and managed a tight budget. The cost of living was high ; I needed to move and look for work in a new industry. My background was in the XXXX XXXX XXXX XXXX and XXXX I decided to start a XXXX career XXXX  working for a XXXX XXXX 
From the years XXXX - XXXX I struggled with XXXX due to my financial profile and family issues. Despite my circumstances I was determined to live a full life knowing that I would not be able to buy a home or perhaps have a family. I was in my late XXXX 's to early XXXX 's.
By XX/XX/XXXX, I completed a XXXX  XXXX diploma and was hired full time as an XXXX XXXX at XXXX per year in XXXX. I lived in a city with a low cost of living, good public transport, and in shared housing for one year. The following year I moved into a studio apartment where I remained for five years. In XXXX I made regular payments of {$1200.00} per month. These payments were on time and regular for three years. By XX/XX/XXXX I applied to have the cosigner released and was denied with no specific reason. The second time I applied for the cosigner release I was denied again based on my income to debt ratio. At this point, I was very upset. My cosigner was diagnosed with XXXX and XXXX XXXX XXXX XXXX XXXX ; she was also a XXXX XXXX.
By XXXX, it was clear I had to take a break from XXXX as advised by medical professionals. I enrolled in an online course through XXXX XXXX XXXX College to explore a direction in XXXX XXXX XXXX while XXXX full time. The private loan was in a deferment period at this time.
My health finally caught up with me ; the XXXX I had struggled with for years was an outcome from living with XXXX XXXX XXXX, in addition, symptoms of XXXX XXXX were present. I left XXXX full time inXX/XX/XXXX due to medical reasons. I worked as a part time XXXX ( XXXX ) from XX/XX/XXXX- XX/XX/XXXX. During this time my income was supplemented through government benefits to support treatment and recovery. While in treatment and recovery, I realized that a hard past contributed to some of the struggles I was working through. I grew up in a XXXX XXXX XXXX family raised on a XXXX 's income in a racially conscious city with rough neighborhoods. A survivor of multiple XXXX XXXX and XXXX XXXX from a police officer at the age of XXXX yrs ( I was in the wrong place at the wrong time ). I underwent a successful treatment and recovery for XXXX and XXXX XXXX XXXX before returning to the U.S. in XXXX.
From XXXX to the present. There was a change in the repayment terms on the private education loan. I qualified for the rate reduction program ; it was a new program that started in XXXX. The interest rate was dropped to 1 % and a lower payment was calculated based on my income and the cosigners income.
From XXXX - XXXX I was making payments from {$1100.00} to {$1200.00} per month. At the end of the year the principal was barely affected ; I was paying the interest that accrued for the year. By XXXX  my payment was cut in half {$540.00}, the interest was dropped from 8.25 % to 1 % and for the first time my principal was actually decreasing.
By XXXX my contribution to the loan was XXXX and the cosigner 's XXXX. We are close to paying off the original loan amount. Unfortunately, the interest that has accrued over the years leaves the balance of the loan at {$140000.00}.
At this time, the cosigner 's health has declined and she will need to leave full time XXXX by XX/XX/XXXX. I have returned to the U.S. to start a Ch. XXXX Bankruptcy ( to setup a repayment plan that fits my income ), get work experience as a XXXX, and apply for XXXX XXXX with a full scholarship. I am able to work while managing XXXX XXXX, it is just a matter of finding the right employment that suits my strengths.
Currently my loan payment is {$590.00} per month. Due to the cost of relocating to the U.S. I can barely afford this payment of a XXXX XXXX 's salary in the XXXX XXXX ( for XXXX and XXXX XXXX ). In fact, as of right now, the school year has ended, the rest of my savings was spent on medical bills, and I am homeless ; a XXXX XXXX XXXX  at the age of XXXX. It is temporary. I am marketable and a permanent position will come up, I have only been in the area four months. I believe I will get through this but I need help.
*I have the original loan documents in storage overseas, I will get them as soon as I can