Community Chat

[151949]

An article on facebook discusses that some people take out a student LOAN - not a student gift - to go to college and get away with never paying on it so when they finally go on SS it ends up they garnish their SS as repayment of the loan. Apparently this is not all that uncommon.And, of course, so much interest and penalties have built up that the person never could live long enough to pay it back anyway.It is amazing to me that a person could owe money for >40 years and not be in jail. Anyway, those who have this happening to them are complaining that they take so much of their SS that they have to live in poverty because they have no retirement income. There is a bill proposed to forgive them the loan and not take their SS . I wonder what everyone thinks about this. On FB it is pretty much a 50/50 split of opinions. I think the government needs to go after these deadbeats and start garnishing their wages long before they are old enough to retire - like if they aren't paying on their loan 2 years after they graduate.

[cherry]

Can't they be traced when they file their income tax forms?

[phoenixbrd]

We don't know the circumstances of these "deadbeats"....life throws us unexpected curves.  As a youngster, I had a lot of judgments and opinions.  I've experienced enough of those curves to know that my responsibly is to myself, and not determine what is best for others.  Some truth in walking in another's moccasins.

[MyGirlsMom]

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@phoenixbrd wrote:

We don't know the circumstances of these "deadbeats"....life throws us unexpected curves.  As a youngster, I had a lot of judgments and opinions.  I've experienced enough of those curves to know that my responsibly is to myself, and not determine what is best for others.  Some truth in walking in another's moccasins.

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@phoenixbrd

STANDING OVATION!!!!!

[GenXmuse]

I think you might need a break from Facebook since it riles you up so much.  

[JaneMarple]

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@151949 wrote:

An article on facebook discusses that some people take out a student LOAN - not a student gift - to go to college and get away with never paying on it so when they finally go on SS it ends up they garnish their SS as repayment of the loan. Apparently this is not all that uncommon.And, of course, so much interest and penalties have built up that the person never could live long enough to pay it back anyway.It is amazing to me that a person could owe money for >40 years and not be in jail. Anyway, those who have this happening to them are complaining that they take so much of their SS that they have to live in poverty because they have no retirement income. There is a bill proposed to forgive them the loan and not take their SS . I wonder what everyone thinks about this. On FB it is pretty much a 50/50 split of opinions. I think the government needs to go after these deadbeats and start garnishing their wages long before they are old enough to retire - like if they aren't paying on their loan 2 years after they graduate.

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It's NOT FAIR to label all people who owe on their student loans as "deadbeats"! EVERYONE is different and has a reason as to why they haven't paid back their loans. OP why do you like to judge others by what you've accomplished in life? By now most of us knows your entire life's story and what you and your husband did, where you retired and how you've saved. That's your business!

EVERYONE IS NOT YOU!

[151949]

Who said I was riled up? I just thought that this may be an interesting subject for conversation. Of course it would require some thoughtful contemplation before answering - which may or may not be possible .

[MyGirlsMom]

ATTA Girl! @JaneMarple

[CalMom]

Consider this. If these individuals were not able to pay off the college loans then perhaps they can return their college degree since they didn't get their money's worth.

[151949]

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@cherry wrote:

Can't they be traced when they file their income tax forms?

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You would think so. 

When I took a student loan my parents had to co sign.