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Got student loans? For your convenience...

Discussion in 'The Okie Corral' started by railfancwb, Aug 9, 2012.

  1. railfancwb

    railfancwb

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    ...the Feds will withhold payments from your Social Security benefits so you won't have to write checks or use stamps...whether you want this done or not.

    http://www.smartmoney.com/borrow/st...financial-problem-college-debt-1344292084111/

    "Deanne Loonin, a staff attorney at the National Consumer Law Center in Boston, says she's been working with an 83-year-old veteran whose Social Security benefits have been reduced for the past five years. The client fell behind on a federal loan that he signed up for in the '90s to help with his son's tuition costs; Loonin says the government's cuts have left the client without enough cash to pay for medications for heart problems and other ailments."
     
  2. md2lgyk

    md2lgyk

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    So?? You borrow money, you're obligated to pay it back. Simple as that.
     

  3. 427

    427

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    A government big enough to give you everything you want is a government big enough to take from you everything you have.
    Gerald Ford, Presidential address to a joint session of Congress, 12 August 1974
     
  4. podwich

    podwich

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    Well, shoot. Can they just withhold my future SS benefits? Heck, they can even appropriate the money they currently take from me. At least this way I'd have a chance of benefiting from the money they take.
     
  5. CitizenOfDreams

    CitizenOfDreams

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    But that's not fair! :crying:
     
  6. devildog2067

    devildog2067

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    If they'd just take my lifetime Social Security payments, right now, and throw them at my student loans and lock me out of Social Security for life... I'd do a little dance, I'd be so happy.
     
  7. jakebrake

    jakebrake cracker

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    a little dance? i'd be michael flatley for that trade off!
     
  8. arclight610

    arclight610

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    Sometimes consequences can suck.
     
  9. Spiffums

    Spiffums I.C.P.

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    I thought Social Security Benefits were protected from garnishment. I know IRS tax refunds are open to garnishment.
     
  10. Snaps

    Snaps Hail 2 The King

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    can I just have 'em pay my student loans back out of the money I'm paying INTO social security? I mean I'm never going to see it again, might as well let me do something good with it.
     
  11. jbutenhoff

    jbutenhoff

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    Well shoot, sign me up! The chances of me ever getting one penny of my social security are about zero...
     
  12. Lethaltxn

    Lethaltxn

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    So, I'm square then? :supergrin:
     
  13. certifiedfunds

    certifiedfunds Tewwowist

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    What a tangled web.

    Person A borrows money.

    Then, the government takes money from Person B and uses it to pay back Person A's debt without either A or B's permission.
     
    Last edited: Aug 9, 2012
  14. Sam Spade

    Sam Spade Staff Member Lifetime Member

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    Sounds like person B needs to have a talk with person A.
     
  15. certifiedfunds

    certifiedfunds Tewwowist

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    Actually, it sounds like Person A's son needs to step up and make Person A whole.

    Person A whole ----did I just say that?
     
    Last edited: Aug 9, 2012
  16. HarlDane

    HarlDane

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    Am I missing something? I thought the whole point of federal student loans was that more or less anyone was eligible regardless of credit score or income, so why the need for a cosigner?
     
  17. NickC50310

    NickC50310

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    Damn I wish they would do that for me! They can take all the money I have paid into SS in my 15 years of working and put it towards my fiance's student loans! (I only have 600 left on mine). That would be HUGE since I wont see a dime of that **** anyway!
     
    Last edited: Aug 10, 2012
  18. skippz

    skippz

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    When it comes to govt funding there's one expert with experience... Ben Dover (especially if you're a workin man, or woman)
     
  19. certifiedfunds

    certifiedfunds Tewwowist

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    What's a "workin man" ?
     
  20. Sam Spade

    Sam Spade Staff Member Lifetime Member

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    Well, now you're confusing me. Son borrowed, dad guaranteed, son defaulted, dad got garnished. I'm not seeing anyone being penalized who didn't volunteer for it.

    So who's this "B" in your post above that finds himself with unjustly emptied pockets?