Mr. President, can you do the math on this ?

I just recieved my Annual Statement from Direct Loans, U.S. Department of Education, P.O. Box 5609, Greenville, TX, 75403-5609 (1-800-848-0979):

Activity For The Year 

Beginning Balance - as of 01/01/2009 .......... Principle Balance = $34,378.06 ...... Interest Balance = $11,953.20 ..... Late Charges = $0.00

Net Disbursement Activity ......................................... $0.00

Net Misc. Adjustments ............................................... $0.00

Capitalized Interest ................................. (Principle) $1,202.89 (Interest) $1,202.89-

Recent Activity ............................................................ $0.00

Interest/Late Charges Accrued ................. (Interest) $2,709.45 (Late Charges) $0.00

Payment(s) Applied .................................................... $0.00

Ending Balance - as of 12/31/2009 ......... (Principle) $35,580.95 (Interest) $13,459.76 (Late Charges) $.0.00

Year-End Balance = $49,040.71

O.K. Now mulitply the "Interest Accrued" times 25 (YEARS) , adding the "accrued interest" of each year before calculating the next year's "accured interest"

There is a "Loan Adjustment" of $1,027.88- I am not sure what that is about, but my "Interest Accrued" is $2,709.45, which means there is still interest being added to my (consolidated) student loans.

O.K. Now mulitply the "Interest Accrued" times 25 (YEARS) , adding the "accrued interest" of each year before calculating the next year's "accured interest"

I am on an "Income Contingent Plan", for which I pay $0.00 each month -- (BECAUSE MY INCOME DOES NOT EVEN COVER THE INTEREST, THEREFOR , MY "MONTHLY PAYMENTS BASED ON HOW MUCH INCOME I EARN" IS $0.00 --- This is called Negative Amortizement and what it means in simple terms is that unless I win the jackpot in the lottery I will owe The U.S. Department of Education FOR 25 YEARS -- at which time, if I still cannot afford to pay the U.S. Government COULD consider this outstanding and outrageous student loan debt as "INCOME" and TAX it !

Direct Loans, which is part of the U.S. Department of Education has NO PAYMENT OPTIONS FOR PARTIALLY DISABLED PERSONS !

Direct Loans, which is part of the U.S. Department for Education has NO "SPECIAL CIRCUMSTANCES" PAYMENT OPTIONS TO WAIVE INTEREST !

Direct Loans, which is part of the U.S. Department of Education does NOT ACKNOWLDEGE THE FACT THAT I HAVE BEEN ON SOCIAL SECURITY DISABILITY FOR OVER 5 YEARS AND THAT I WILL MOST LIKELY BE "ON DISABILITY" FOR ANOTHER 5 - 25 YEARS !

Direct Loans, which is part of the U.S. Department of Education, DOES NOT ACKNOWLEDGE THE CURRENT  EXTREME ECONOMY CRISIS THE U.S. IS HAVING BECAUSE  DIRECT LOANS, WHICH IS PART OF THE U.S. DEPARTMENT OF EDUCATION DOES NOT OFFER WAIVING INTEREST, REDUCING INTEREST, OR ANY OTHER LOAN REDUCTION PLAN (other than their "Income Contingent" payment plan, but that was obviously set up to be a TEMPORARY reduction plan because there is no option for any long term reduction of overall loan(s) --- WHICH WOULD NEED TO INCLUDE REMOVING INTEREST ACCRUED FOR INCOME CONTINGENT PLANS WHICH HAVE A $0.00/MONTH PAYMENT ..........) when an existing loan has been in repayment status of $0.00/month for over 5 years FOR INDIVIDUALS WHO HAVE LOST THEIR WAGES OR WHO HAVE HAD THEIR EARNING POTENTIAL LOST DUE TO BUDGET CUTS and/or other economy fall out.

Direct Loans, which is part of the U.S. Department does have a payment option to lower monthy payments IF ONE PAYS BY DIRECT DEPOSIT, BUT THE "INCOME CONTINGENT" PAYMENT PLAN IS NOT INCLUDED IN THEIR PAYMENT REDUCTION OFFER.

Direct Loans, which is part of the U.S. Department of Education JUST WASTED MORE TREES -- ONE OF OUR DWINDLING NATURAL RESOURCES -- IN SENDING ME "BILLING COUPONS" AND 6 ENVELOPES BECAUSE MY PRECALCULATED MONTHLY PAYMENTS WILL BE $0.00 ! (Does Direct Loans, which is part of the U.S. Department of Education, expect me to waste my time, energy and more money I cannot afford to pay for a stamp to mail my $0.00 each month with their Billing Coupons" ???)

Mr. President, does this seem a fair practice to you ? What incentives are you willing to offer single parents who have already gone to college ? Did you even consider single parents who have already gone to college and who are now still struggling financially BEFORE you decided to start a National Campaign to enlist more single parents to enroll in college ? Don't you think it wiser to address the issues/burdens facing single parents who have already gone to college and are still financially struggling BEFORE claiming that "going to college", now, will help single parents, now and/or later ? I graduated with my B.F.A. in Graphic Design in 1995 and I am still waiting for my college degree to mean anything more than an ever increasing student loan debt !!!