I tried to help my granddaughter pay some of her education by cosigning a student loan in 2009 for $15,000. Naturally there was no payment due until graduation, but interests were added on from the start.

She graduated in 2012 and her repayments started at the time. Now, 10 years after she applied, her balance due as of March 19, 2019, is $16,260. She told me that she can't refinance herself even though she has been working since finishing college, as her net income is insufficient to warrant a loan. In other words, her credit rating is basically zero although she has paying back on her loan for seven years.

The banks are just gouging the students and know that they have a win-win situation; there is a co-signer. Can't we get a movement going to get the balances modified or cancelled? The banks have already received more interest than the original loan. 

Didier Rocherolle

Old Lyme