A Houston man, Paul Aker, claims he was confronted by US marshals on his doorstep and arrested for a $1500 student loan dating back to 1987.
Minu Thompson, junior at Athens Drive High School, believes loans are very beneficial for college.
“Loans help people continue through college,” said Thompson. “I think there should be more opportunities for people to receive interest free loans. However, people should understand the outcomes of not paying back loans.”
The Marshals Service has made several attempts in 2012 to contact Aker requesting him to show up in court; a judge issued his warrant in Dec. 2012 after he did not show up. However, Aker claims he was not contacted and insisted he was not told about his loan debt (originally $1500, now considered outstanding) in a long time.
Aker was approached by two Marshals when he went to check his mail Feb. 12. The situation further escalated when Aker armed himself and refused to step outside. The Marshals then requested backup and after two hours; Aker put his gun down and stepped outside where he was immediately arrested.
Aker then agreed with a judge to pay $200 monthly to pay off the debt. The build up of interest, late fees and collection fees has required Aker to pay back around $5700.
Texas has had an increase of warrants issued. Many students generally rely on federal financing, and tuition is on the rise. According to NYmag.com, in 2014, Texas students owed over $75 billion in college loan debt, an increase of 7 percent from the previous year.
Student loans, averaging $35,000, tend to engulf many U.S. citizens as they struggle to keep up with the interest as a result of delaying payments. Student loan debt has increased from $260 billion in 2004 to $1.2 trillion in 2014. Studies say that about 70 percent of students in college leave in debt, and student loans account for 36.8 percent of the total debt for consumers in their twenties. 2.1 million citizens over 60 still have student debt, and as a result, some are having loans deducted from social security checks.
The U.S. government says that the loaner is responsible for timely payments, and that the collection agency can take other actions to obtain the loan payment, whether it be from withholding tax refunds or modifying one’s wages.
Hannah Wheeler works at the front desk at Athens Drive’s library. Wheeler, whom has already graduated college, has experience on student loans. “Student loans can be used for tuition, housing, and sometimes everything. I think it was worth borrowing money for student loans because I have a degree as well as a good paying job. I can pay off my loans,” said Wheeler.
In 2003, U.S. Marshals arrested citizens in the Minneapolis-St. Paul area for outstanding debts. While ‘debtor’s prisons’, which imprison a person for being unable to pay debts, have been outlawed for about 200 years, the arrests technically came from ignored summons to court. However, since financial crises in the early 2000s, a judge can allow a warrant only if they feel the debtor is willingly holding pay.
Overall, a study from debt.org showed that student loans can make it difficult for citizens to buy daily necessities, affects their ability to make larger purchases, and a larger portion agreed that student loans alone has prevented them from putting off into retirement.
“I think it’s unfair for loaners to add interest to student loans because a lot of people do not get much education about getting involved in loans,” Wheeler said.
With interest, late fees, collection fees and the increasing number of warrants being issued, citizens feel pressured to pay back something they cannot return.
