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Predatory Student Loans are the worst

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Hi there for those who don't know me here is a bit of background on this fundraiser and also on me! Since graduating from college in 2009, I have struggled to keep up with my student loan payments. I come from below the poverty line and didn't have much financial help while in school. I've had to defer my loans many times which as you know only increases your interest. However, the most upsetting situation has been that I was the victim of predatory lending. A private loan I took out my sophomore year was for $7,500. I now owe $25,000 on that same loan due to it being sold to multiple different companies and the interest rates fluctuating between 6% and 12%. This debt is hindering my dream of becoming a homeowner. I have worked extremely hard to raise my credit score (now a 740), lower my debt-to-income ratio (now 30%) and have been working with a first time homebuyer downpayment assistance program here in Atlanta to realize my dreams of owning a condo.  Please consider donating to this fundraiser. Every dime I receive will go initially to the $25,000 high interest private loan. Should I exceed my goals I will put it into savings to go toward the purchase of my condo. The sooner I can rid myself of this debt, the sooner I can realize my dream! Please if you have anything extra to give to a black girl who is desperately trying to elevate her life, I ask that you do so with an open heart!  

God Bless you!
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    Organizer

    Falashay Pearson
    Organizer
    Lawrenceville, GA

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