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Repairman with $37,000 in Student Debt Pleads to be Included in Biden’s Relief Plan

Repairman with $37,000 in Student Debt Pleads to be Included in Biden’s Relief Plan

November 23, 2023 By Peter Leave a Comment

Introduction

Meet Chris Fleshren, a 63-year-old repairman who is burdened with $37,000 in student debt and struggling to pay it off along with hefty medical bills. He is pleading to be included in President Joe Biden's new relief plan for student-loan forgiveness. As retirement approaches, Fleshren fears he won't be able to afford the payments.

Struggling to Find Employment in His Field

After graduating in 2012 with a bachelor's degree in Geographic Information Systems, Fleshren, like many others, faced difficulty finding a job in his field. Despite his efforts in sending out resumes, attending job fairs, and actively searching job boards, he was unable to secure steady employment in his chosen field. As a result, he now works as a kitchen equipment repairman. Fleshren had initially pursued higher education later in life as an opportunity to advance his career and increase his income. However, he feels that he may have pursued it too late, stating, "I have no criminal history, nothing but good employment history, and I just couldn't get a job."

Mounting Debt and Medical Bills

Fleshren currently carries over $37,000 in student debt from his bachelor's degree. While he has managed to make his monthly federal student-loan payments since they resumed in October, he is uncertain how much longer he can continue to do so. On top of his student debt, Fleshren is also burdened with thousands of dollars in medical bills for his wife's care. With limited savings and retirement on the horizon, he worries about the financial strain of paying off his student loans while meeting other essential expenses.

The Need for Comprehensive Relief

While President Biden's Education Department has implemented measures such as a 12-month "on-ramp" period and an income-driven repayment plan to assist borrowers, these efforts may not be enough for individuals like Fleshren who are struggling to afford basic necessities and manage other forms of debt. Fleshren expresses concerns about the sustainability of his current financial situation, stating, "I have about two months worth of bills, maybe three months worth of bills, in my checking account and we have no savings. I'm a year or two away from retirement. Are they going to make me pay a fourth of my Social Security to pay off my student loans when I'm 66 years old?"

Awaiting the Education Department's New Relief Plan

The Education Department is currently in the process of developing a new plan for student-loan forgiveness. After the Supreme Court struck down the department's initial attempt at broad debt relief, negotiations are underway to tailor a more targeted relief plan. Fleshren hopes that his situation qualifies as a hardship under the new plan. Negotiators are considering various criteria, including disability status, childcare or medical expenses, and Pell Grant recipients. Fleshren believes that the significant medical bills he faces should be taken into account as well.

Challenges in Communicating with Student-Loan Servicers

Fleshren also expresses frustration with the poor customer service and communication from his student-loan servicer, Nelnet. Despite reaching out for assistance with his repayment, Fleshren has received no response and has struggled to get through to customer service due to lengthy hold times. He believes that if the servicer fails to communicate with him, he should not be penalized for withholding payment. The Education Department acknowledges the challenges borrowers face with federal servicers and has taken steps to address these issues.

The Stress of the Situation

Dealing with the financial burden of student debt, medical bills, and poor customer service has taken a toll on Fleshren. He describes the stress as "ridiculous" and emphasizes the urgency of resolving his urgent issues rather than continuing to make payments into what feels like a "black hole." Fleshren is willing to pay off his debt, but he requires effective communication and assistance from his servicer to do so.

As Fleshren and millions of other borrowers await President Biden's new relief plan, they hope for comprehensive measures that will alleviate their financial burdens and provide a path to a debt-free future.

—————————————————————————————————————————————
By: asheffey@businessinsider.com (Ayelet Sheffey)
Title: Repairman with $37,000 in Student Debt Pleads to be Included in Biden’s Relief Plan
Sourced From: www.businessinsider.com/paying-off-student-loans-medical-bills-debt-cancellation-biden-relief-2023-11
Published Date: Thu, 23 Nov 2023 11:46:01 +0000

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