Grieving parents taking on student loan debt

[Matt1970]

You are free to leave this country and people you hate.

So are you.

 

[MongGrel]

So we have the return of THREE Christs?!!!!

The Rapture is coming!!!!!

:biggrin:

 

[CountZero]

The general issue with student loans has been discussed here ad nauseum and the issue is fairly complex.

On the flip side a co-signer should be able to declare bankruptcy to discharge the debt in the case where the person that received the education died. It is a simple solution that falls in line with every other kind of debt that exists. The usual reason given to not allow student loans to be discharged just don't apply here as the person that received the education is dead.

 

[IndyColtsFan]

Originally Posted by dmcowen674
Are you in the U.S.?

Why do you hate America and Americans so much?



At least you are an honest hater.

Why do you stay here?

You are free to leave this country and people you hate.

And leave the country to bottom-feeders like you? Who would support your lazy ass?

 

[werepossum]

So we have the return of THREE Christs?!!!!

The Rapture is coming!!!!!

Hey, it works, mate! The fat one balances the two skinny ones!

And leave the country to bottom-feeders like you? Who would support your lazy ass?

Hey! Dave works, dude. So does his lovely wife.

 

[OverVolt]

Somehow colleges jacking up tuition at will because they know the feds are good for the money seems straightforward to me.

Did they really need a $152million dollar English building where half the classrooms are empty and there was a $10,000 smart board in every room that no one used? Probably not.

 

[ralfy]

Given billions in bailout money given to the rich, citizens should also receive support.

 

[NetWareHead]

I largely agree, but Legendkiller makes a good point that the lenders are not wholly blameless either. Takes two to tango, and if lenders are lending irresponsibly then they are due less sympathy and (in my opinion) less legal protection.

You make a point but I'll refer back to the old adage: It takes two to tango. The student signed up for this loan. The student knowingly incurred debt on top of debt paying for more tuition while a student. The parents knowingly were co-signers. it can't get more straightforward than this...

The lenders actions, while not blameless are a topic for another thread. The parents signed up for these shenanigans and are now left holding the bill when their daughter passed away. What did they think was going to happen? Expect forgiveness from the lender? Lol

 

[IndyColtsFan]

Hey! Dave works, dude. So does his lovely wife.

He works clogging the forum with drivel and also polluting my fair city with his buffoonery, if that's what you mean.

 

[Spungo]

Why the fuck would you think this should all be forgiven? And who goes $100K in debt to get a fucking NURSING degree. Most nurses have an associates, btw. Some go for a bachelors degree, sure. But it is sufficient to have two years of schooling to become a nurse.

wtf? There's so much wrong with this that I don't even know what to say. Nurses often get paid twice the national median income. It's one of the best careers someone can have. They get paid even more if they're specialized.

Anyway, these people fucked up. They should've had life insurance. While most insurance is a scam (cloud insurance!), one thing insurance is great at doing is covering counter-party risk. When you get a mortgage, a lot of lenders will only lend the money if the loan is insured. This is called a credit default swap.

One of my friends bought a house with his dad because they can make the payments if they pool their money (both are lower middle class). To ensure the house gets paid off even if one of them dies, both of them have life insurance policies with the other as their beneficiary. My friend dies, his dad gets paid. My friend's dad dies, my friend gets paid. Then the mortgage gets paid. People who have kids generally have life insurance so their kids and spouse are not forced to sell the house. This is not a new concept.

Yeah, we are pretty clear on this; you get off on people being shaken down when money is owed - we get it.

So.... what you're saying is that lenders should charge much higher interest rates for single moms because they should be expecting debt default? How very right-wing of you.

 

[shortylickens]

Welcome to liberalism.

Umm, conservative ideals think its ok to bail out failing corporations.

I dont think this is a Liberal problem.

 

[GoPackGo]

I think Bankruptcy is still the best option. They can state that it is too great a hardship.

The judge can still discharge the debt.

 

[Attic]

Comes down to the destruction of deception.

“Just because something isn't a lie does not mean that it isn't deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
― Criss Jami

There is perverse and pervasive deception in the efforts leading kids into college and student loan debt. How else do you rack kids up with 100k+ of non dischargeable debt? If you told them the truth, they wouldn't take on this debt, and if the system wasn't corrupt and deceitful, it would not require 100k+ debt for some of these kids nor would it take it from them. The kids share blame, but they're obviously being snookered to some degree.

Make the debt the same as other debt and/or put back tax payer funding for universities to previous levels (and then some).

Nuke university of phoenix and it's clones from orbit.

 

[werepossum]

You make a point but I'll refer back to the old adage: It takes two to tango. The student signed up for this loan. The student knowingly incurred debt on top of debt paying for more tuition while a student. The parents knowingly were co-signers. it can't get more straightforward than this...

The lenders actions, while not blameless are a topic for another thread. The parents signed up for these shenanigans and are now left holding the bill when their daughter passed away. What did they think was going to happen? Expect forgiveness from the lender? Lol

Oh, agreed. My point was that while I generally put all the blame on the borrower, as Legendkiller points out that isn't completely the case in education loans. It's partly unscrupulous lenders, and I'd add partly that with (hopefully) good intentions we've set up yet another situation where we've privatized profit, socialized loss, and decoupled lending from due diligence.

He works clogging the forum with drivel and also polluting my fair city with his buffoonery, if that's what you mean.

lol Nooo, that wasn't quite what I meant.

 

[Ronstang]

that is a insane amount. 20ish pills a day? wow

Well, was she taking that many a day, or selling them? Either way this poor girl was a complete all around dumbass....which is why liberals will make excuses for her and CNN will portray the story like the bank is the bad guy.

 

[nehalem256]

Well, was she taking that many a day, or selling them? Either way this poor girl was a complete all around dumbass....which is why liberals will make excuses for her and CNN will portray the story like the bank is the bad guy.

I in fact started a thread with that basic premise:

http://www.theatlantic.com/health/a...a-red-state/282881/?google_editors_picks=true

Why does it seem like almost every article about the poor always has a giant WTF moment? Is there really such a lack of poor people that got that way despite making good life choices?

I also love the spin:

Getting extremely drunk and crashing into a park vehicle is "car problems".

Overdosing on painkillers is "liver failure"

etc.

 

[OverVolt]

Federal loans can't go to the parents, only private loans

I would honestly declare bankruptcy. The court would go easy on them considering the circumstances I think.

 

[LegendKiller]

Federal loans can't go to the parents, only private loans

I would honestly declare bankruptcy. The court would go easy on them considering the circumstances I think.

Depends. It is *very* difficult to discharge loans, practically impossible.

 

[SagaLore]

Well, they cosigned.

 

[Wreckem]

I'll repeat this again.

If you are a borrower. Never take out private student loans.

If you are a co-signer, you already failed. Never be a co-signer.

If the parents had taken out a parent plus loan instead of co-signing a private loan, the debt would have been discharged upon the confirmation of the death of their daughter.

As for nurses and people shitting on them with the line OMG $100k for nursing. In a lot of areas nurses make bank, as much or more than engineers starting out. And while the field has a lot of two year ADNs, the field is now requiring BSNs. A BSN from an out of state school or a private school is easily going to cost $100k or more when everything is said and done.

 

[GoPackGo]

Depends. It is *very* difficult to discharge loans, practically impossible.

I think between the student being dead and the grandparents are now caring for the children that would provide enough just cause to discharge the loans.

 

[nehalem256]

I'll repeat this again.

If you are a borrower. Never take out private student loans.

If you are a co-signer, you already failed. Never be a co-signer.

If the parents had taken out a parent plus loan instead of co-signing a private loan, the debt would have been discharged upon the confirmation of the death of their daughter.

As for nurses and people shitting on them with the line OMG $100k for nursing. In a lot of areas nurses make bank, as much or more than engineers starting out. And while the field has a lot of two year ADNs, the field is now requiring BSNs. A BSN from an out of state school or a private school is easily going to cost $100k or more when everything is said and done.

So the logical thing to do would be to attend an in state public school.

 

[LostPassword]

went to community, then state school myself.
parents never paid a cent.
school & healthcare isn't a right in america.

 

[Brainonska511]

went to community, then state school myself.
parents never paid a cent.
school & healthcare isn't a right in america.

State schools are partially funded by tax payer money, which helps keep user fees (aka, tuition) down. Guess where the tax payer money came from...

 

[LegendKiller]

State schools are partially funded by tax payer money, which helps keep user fees (aka, tuition) down. Guess where the tax payer money came from...

The states having control of the purse strings also keeps tuition down.