DIANAVAN might be interested...

I borrowed $2,800 from the state student loan program during the Viet Nam war.

I had $280 left to pay off my student loan.

I lost track of the student loan bank toward the end of the Viet Nam war and begab a long trek through abject poverty.

When I had finally crossed the desert of poverty, the student loan people said I owed them $38,780.54

While I thought I had crossed the desert, I still had sand in my mouth.

I learned that it is normal and legal to "CHURN" these State student loans.

CHURNING is a practice of selling deliquent loans from one bank to another bank and adding thousands of dollars of bank fees and penalties each time it is churned. Once the loan is sold, the new bank can even change the interest rate.

The last time I checked, my student loan is now held by a bank in America with Japanese ownership.

Like murder, there is no statute of limitations on student loan churning. IT would take a special act by a Congressman to seek a limited amount of justice regarding a churned student loan.

Why buy a delinqwuent loan?

These deliquent loans are valuable and highly prized by banks since the banks passed legislation to take any and all Federal tax refund checks for the lifetime of the debtor - or until the balance is paid.

Buying and selling and churning these loans make billions of dollars for the banking industry.