Thursday, April 17, 2014

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Sen. Schumer, family fights to dismiss loans

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CNY/NNY/S. Tier: Sen. Schumer, family fights to dismiss loans
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SYRACUSE, N.Y. -- The family of a student killed by a drunk driver in 2010 is asking for compassion from two private student loan companies. And helping them in the fight is none other than Senator Charles Schumer.

The parents of Andrew Prior, who live in Syracuse, are asking American Education Services and Education Investment Finance Corporation to dismiss two of Andrew’s outstanding student loans. Two private companies are still looking to be paid by the Priors who had co-signed on their son's loans.

Prior was killed in a hit and run drunk driving crash more than two years ago.

The companies have threatened to take the family's car and home, putting what Schumer believes is an unnecessary financial strain on the grieving family.

"Private companies should always be willing to work with Americans and their families when urgent unforeseen tragedies occur. In this rocky economy, families should not be needlessly driven into further debt when they've lost a child," said Sen. Schumer.

Federal Student Loan Companies are bound by law to discharge a loan when the loan holder dies.

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