Sallie Mae has reaped the benefits by having bankruptcy protection stripped away from Private Student loans back in 2005 and do not offer any of the reasonable repayment options that Federally funded student loans do. In a time where economic uncertainty is a reality for so many of us Sallie Mae benefits from loans going into Default. Private Student Loans are like any other type of unsecured debt with the exception of being able to bankrupt. Many of us want to pay what we owe but when times are tough we want to be able to continue to have a life and make a good living. Sallie Mae's unfair penalties for falling under hard times are unreasonable. People's credit scores are hurt because they default because they are unable to pay large monthly amounts. If Sallie Mae works with those struggling by offering 10% Income Base Repayment with loan forgiveness after 10 years of payment for those working in the public sector and 20 years for those in private sector people would be able to maintain good credit scores. Manage to pay for an apartment, buy a house, have a family and get married and save for retirement. Going to college should not have been a mistake but a way to better ourselves and we need to be able to educate ourselves and not go broke doing it.