This page has been archived and commenting is disabled.
Meet Janet Dupree:72, Alcoholic, HIV-Positive, $16,000 In Student Debt: "I Won't Live Long Enough To Pay It Off"
One would think that Janet Lee Dupree, 72, a self-professed HIV-infected alcoholic, would be slowly putting aside material worries as she prepares to set the intangibles in her life in order for one last time. One would be wrong.
Janet Dupree has had her wages garnished
As she admits, "I am an alcoholic and I have HIV," she tells the BBC. "That's under control." So what is the cause of most if not all consternation in the final days of Dupree's life? "I was sick and I didn't worry about paying back the debt." As a result, Dupree defaulted on her loan, and since she turned 65 she has had money withheld from her Social Security benefits.
"Just recently I received a notification that they are going to garnish my wages because I am still working," says Dupree, who works 30 hours a week as a substance abuse counsellor.
The debt in question: Dupree owes $16,000 in student loans she acquired in 1971 and 1972.
Or make that "student loans" - debt which is crippling the last days of a person who hasn't seen the inside of a classroom in four decades.
Dupree, who lives in Citra, Florida, admits she forgot for many years that she had borrowed the money - originally $3,000 - in order to complete her undergraduate studies in Spanish.
The stunning story of how the exponentially rising...
... notional amounts of (anything but) student debt is crushing millions of Americans as recounted by the BBC:
- Outstanding student loan debt in the US amounts to $1tr
- 3% of households headed by individuals 65 or over carry student debt (706,000 households)
- 24% of households headed by individuals 64 or under carry student debt (22 million households)
- The outstanding federal debt for older adults grew from $2.8bn in 2005 to $18.2bn in 2013
- 27% of federal student loans held by individuals aged 65 to 74 are in default, compared to 12% of loans to people between the ages of 25 and 49
In 2005, older adults owed $2.8bn (£1.61bn) in federal student debt. By 2013, that figure that had ballooned to $18.2bn, according to a report released last month by the Government Accountability Office (GAO).
These seniors account for 706,000 households in the United States - small compared to the 22 million households with non-seniors who hold student load debt, but a growing problem. People over 65 also defaulted on their student loan debt at a much higher rate than other segments of the population, says Charles Jeszeck, author of the GAO report.
Students in the US often take out loans, both privately funded and financed by the US Department of Education, to pay their school fees. While other loans, such as a home mortgage, can be forgiven if a borrower files for bankruptcy, student loans cannot.
According to the GAO study, the number of individuals whose Social Security benefits were offset to pay student loan debt increased from about 31,000 to 155,000 between 2002-13. Jeszeck tells the BBC that this situation can cause considerable problems for older adults who, like Dupree, may have to extend their working life well beyond retirement age.
"They face the potential of reduced social security benefits and a lower standard of living, possibly a poverty-level standard of living in retirement," Jeszeck says.
Rosemary Anderson, 57, says she is fortunate not to have defaulted on her student loan, but she already knows she will grow old with a debt "hanging over her head".
Between 1991-2000 she borrowed $64,000 in order to complete both her undergraduate and her graduate studies in organisational behaviour and development.
Soon after, though, she began what she calls a "steep decline into financial hell".
She says she divorced her husband of 24 years, had health issues that prevented her from working full time, and had her salary reduced when the financial crisis hit.
Anderson, who works as a member of the emergency management team at the University of California, Santa Cruz, couldn't afford her monthly loan payments, so she entered into a series of deferment options with the Department of Education.
Today, she owes $128,000 and is hoping to get additional help from the government in reducing that amount.
The vast majority of older borrowers took out their loans in order to pay for their own studies, although a small percentage used the loans for their spouses, children or grandchildren.
Many borrowed money to pay for mid- or late-career retraining, or may have acquired loans with a very long repayment term. Others defaulted at a younger age, were unable to dig themselves out of the problem and carried it through into retirement.
The Department of Education says it is "committed to working with older borrowers to help them understand and manage debt", as William Leith, chief business officer for federal student aid, explained in a recent Senate hearing where different measures were discussed.
A department spokesperson told the BBC that there are "many repayment options available, including those based on income, as well as forgiveness programmes".
Meanwhile, Rosemary Anderson is worried. She says never imagined that she would have this problem at her age.
She feels fortunate to have a job but recognises that she will have to continue working as long as she is physically able to.
"Retirement is not part of my vocabulary," she says.
"I will never live long enough to pay off my loan."
»
- 25891 reads
- Printer-friendly version
- Send to friend
- advertisements -
Duh. think first, type later.
You can be an alcoholic and not drink.
It is quite common--empathy and all that.
i would tell her to go work the streets to pay off her debt ... but, i, uhh, doubt very profitable.
work school for the blind??
Take a few of the criminals with you Janet.
If she can get on disability, she can get the whole thing forgiven.
Can you tell me how that works...cough, cough, my back is starting to hurt.
in fact she should be able to get disability with the alcohol abuse and hiv. can she throw in some diabetes and a touch of something else like Ebola just to ice the decision?
Well, I'm glad you mentioned that; because the HIV positive thing is usually the fast road to disability and other goodies.
Another thing that's missing in this sob story is that Social Security will take out very small amounts from your check, like $25/ month. Which somehow looks better to some actuary but is never going to pay anything off; and really doesn't ruin the person's life; such as it is.
So was that debt dischargeable in 1971?
Nobody else is paying debt (in aggregate) so why worry.
Even better, if everyone paid off their debts, what would we use for currency?
Ponder that one for a minute.
pods
In 1989 I worked with someone that owed SLD from the 70's & was forever jacking with her W4. At that time any outstanding debt was taken from tax refunds.
I think that all changed during shrub's tenure.
I see, so getting student loans is like getting Social Secuirty early... but can only be used for education.. Government loves you!
Most of the morons I know getting student loans spend the money on everything but education. Come to think about it, much like food stamps.
¿Consiguió su título universitario? ¿Puede hablar español?
After getting the notification of the wage garnishment, she ought to have sent them back a notification that she was going to quit her job and work off the books from now on.
She's 72, and chronically ill. Why not just tell them all to go fuck themselves?
I can't WAIT for this student loan bubble to pop like a zit. You couldn't find a better example of odious debt.
she should go back to school and get a masters in social work, deferring loans until death. voila--saved!
I can't WAIT for this student loan bubble to pop like a zit. You couldn't find a better example of odious debt.
You've got to be shitting me... Odious debt is when you don't directly agree to pay it (e.g. indirectly or via duress, etc.)... There are dramatically better examples of odious debt...
I don't get hung up on legalisms, machoman. I speak simply, and words mean what they mean, despite the judicial systems attempts to create some sort of Holy Scripture of Law that only THEY can fully comprehend.
The meaning of odious is clear. And it's a perfectly serviceable word for what this debt is. There are many others, but this one works fine too.
Well... here is some googlefu on a definition: In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion. http://en.wikipedia.org/wiki/Odious_debt
What we're discussing in this case is personal debt... incurred on an individual level and owed by the individual and her estate... Odious debt would be the cost of a war that congress didn't approve... or debt incurred while congress failed to make a budget. In short, words do have meanings and you're using the wrong one...
Further, this was your statement: You couldn't find a better example of odious debt.
Well, I've cited two better examples... and they actually conform to the definition. The debtor in this case willingly took the loan... she had the personal ability (and responsibility) to decide whether or not the loan was taken... this is completely different from odious debt in that odious debt is simply thrust upon others due to the acts of public officials/dictators... with odious debt, a citizen does not get the chance to make a personal decision about whether to take out the loan...
Again, you're referring to the legal definition, which I was not using. The legal system has very narrow definitions, and lawyers spend much time haggling over the depths of possible interpretations they can wring out of them.
I consider this to be an abuse of the language, and nothing more than an attempt to take the law away from the people by making it impossible to interpret without knowing all the 'secret meanings' of the terms used.
It is the same thing the early Church fathers did when they forced the use of Latin scriptures despite the fact that the people didn't speak Latin. This allowed them to dictate the meanings and interpretations TO the people, while preventing them from being able to verify by checking for themselves.
Ok, here....
o·di·ous
??d??s/
adjective
adjective: odious
extremely unpleasant; repulsive.
synonyms: revolting, repulsive, repellent, repugnant, disgusting, offensive, objectionable, vile, foul, abhorrent, loathsome, nauseating, sickening, hateful, detestable, execrable, abominable, monstrous, appalling, reprehensible, deplorable, insufferable, intolerable, despicable, contemptible, unspeakable, atrocious, awful, terrible, dreadful, frightful, obnoxious, unsavory, unpalatable, unpleasant, disagreeable, nasty, noisome, distasteful...
THAT'S the word I was using.
The USA is never going to pay off it's debt either. Or Japan. Or Greece. Or Argentina. Or Spain. Or Great Britain. Or.......etc
Ye shall know the generation of swine by the fruits of their hazardous morals and the vast ecosystem of vermin feeding upon them.
I have a feeling this kind of story will be the norm in 20 years. That 100k borrowed for liberal arts will never be paid back, and it will be a drag on the economy for decades. You can't buy a house if you're already drowning in debt.
With a 100 year term mortgage, you bet. The point is not to have people drown in debt but to have just enough above water to breath.
They'll find a way to make it happen. Lots of options: Small, small payments. Exclude student loans for home purchasing fico scores.
Very fixable alternatives. No need to panic
So the Student Loan program is a rousing success then?
You can bet the state will keep paying for her HIV meds. just to siphon $ off her S.S. and Counselling job.
Forward Soviet> er progressive...
No reason to pay this woman. When I need a negative role model to make my case, I look around the county courthouse & jail. There always seem to be multitudes of living dead swarming around the capitol.
This entire economy must die. It's unethical. It's corrupt. It's fake. I passed a truck and driver delivering Coca-cola to a 7-11 this morning. Do we NEED Coke? Does delivering it produce anything that adds to wealth? If we weren't living in fiat-currencyland, would making, advertising and delivering coke be economically rational at all? Would consumers have enough REAL money to purchase a luxury like that? (Or pay $200,000++ for a house?) Would they choose to do so, without cheap manipulated interest rates? Would the driver's "job" even exist?
The entire "job" and "salary" structure is FAKE. Cheap money-induced misallocations of capital.
This woman is a "substance abuse counselor". Who pays her? I bet I know...YOU and I do, via inflation, taxation. She's another government emmployee. Obviously money means nothing, interest rates do not exist and someone, somewhere will pay anyone for doing anything.
If you had a job and career before the Great Recession began you most likely still have it - and your paycheck - NOW. But for the rest, you're redundant.
What's happening is the "job-pay-earn-wages-money" economy is getting smaller. Those on the outside are growing in number.
And "the markets" are expecting rising "interest rates"! Hahahahahahaha...!
The ZH caliphate approves of this comment.
Just another American buying stuff they cannot afford. It's all the rage!
The problem with your thesis is that while price discovery is presently a mystery, who knows where necessity will end and luxury begin... It's not for you or I to dictate either. As far as Coke goes, it's been around for many decades and has existed throughout tumultuous economic times; I trust it will remain in some form or fashion.
yep... he said the 47% free$hitarmy would not vote for him..... well here is a sample is action...
i think is more like 51% (and growing)
Two stories of debt serfs. There is a reason basic financial management is not in any classroom in high school or college.
so the boomers end up not even paying their pittiful and tiny student loans, which goes great with their lack of retirement savings and destruction over the decades of actual jobs as they pushed the economy in a direction to cater primarily to their desire to get paid for little work and buy everything on a whim. then ran off to ruin the housing market, and left the xers in a position to rape the corpse to try and find anything left. thanks again boomers, great to see you'll be sponging off the system until the day you die and probably end up passing those debts on to the next generation in lieu of actual assets. worst generation ever.
"thanks again boomers"
You're welcome.
Yeah well... you can thank the "Greatest Generation" for overbreeding, and then refusing to spank their children or teach them anything worthwhile. The "Greatest Generation" is perhaps the most short-sighted and selfish ever. They also got to live on top of the world in the 50s and 60s.
But the "Greatest Generation" fought the war, defeated evil Germany and never cried or complained about it.... Leading example when young Americans questionned the Vietnam war and didn't care to die for Uncle Sam. We heard about the comparisons all the time. Uncle Sam put dozens of soldiers on landing boats to be mowed down at the beaches of Normandy on D-Day. Those poor guys were told lies upon lies to get into those boats and become cannon fodder. For what?
45 German sailors found their grave inside U576 off the Coast of North Carolina
They get my respect just as the Russian submarines who recently lost their lives inside the sunken can. The British pilots unleashing the firestorms over Dresden may rott in hell (if there's such a thing).
Scapegoat much?
Might as well right/left.
I'm not a big fan of the boomers but really they were born 30 years after the Fed was created. That explains their sad story completely.
"Everyone gets a trophy".
Murica: Both a subprime borrower and lender be
Fucking bloodsuckers. Withholding SS payments to a sick elderly person? Garnishing the wages of a 72-year-old?
There is also a ZH article today about the filthy pig George Soros demanding 20 billion tax-payer dollars to line his pockets by waging war on Russia. You can bet the government is not witholding SS payments to George. In his case it would be the Nazi SS payments, of course.
That's the New America.
I’m sure Janet ‘found’ a higher power that will tell her it’s wrong to kill but OK to run-up bills which will knowingly default.
With that in mind, you need to convince Janet to find George and bust a cap in his ass.
My neighbor is 86 years old. He just refinanced his home with a 100% 30yr VA loan. He has no background in finance, but, he understands the situation well. As he explained it to me, “I just sold my house to a bank, and I get to keep living in it until I die.”
Yes, and the bank gets all of the property appreciation, since when he dies and defaults, they wil sieze the property and his heirs will get nothing.
Maybe he is distributing his wealth now & leaving what he can't sell in this alleged market to the parasites that created it, not to mention the bloodsuckers in probate.
Who cares? He gets the money to distribute now, and his heirs don't have to worry about dealing with selling the property. Besides, there are no guarantees that the property will have any appreciation in value.
I thought Dupree was a degree in bachelor's?
Forcing the plebe to pay off their debts while giving Trillions to the banks. Please wake me when people finally rise up an revolt.
you will unfortunately be sleeping a very very long time.....
I've been sleeping for 5 years waiting to wake up from this nightmare.
No one is going to revolt till after jesus comes back.
Its been decided.
In fact, if you do not support israel you are the antichrist.
Whatever that means.
http://youtu.be/J_rjKxuJzTM
The MIC-FSA is semitic.
<< Forcing the plebe to pay off their debts while giving Trillions to the banks. >>
Yes, that's one reason I hear some people say they don't pay their debts anymore. They figure, if "they" can get away with it an dnot take responsibility, why should I?
The unaccountability thing that began on Wall Street and people like Mozilla, has trickled down to the average slob. It bodes badly for society in general, but I can't say I blame these folks. Shouldn't be two sets of rules, should there?
Therein lies the problem of the moral hazard when the banks expect a double standard. Bank credo, do unto others BEFORE they do unto you. It must by a shyster thing.
yes, someone should explain how an individual consumer/plebe has a moral obligation to repay when the banks not only got the property back when they foreclosed but also with all the accounting gimmicks made almost twice to three times on the loan the made.
Fuck them.
Moral hazard should be applied equally and if it isn't, there isn't any reason why her debt should be repaid.
"Hi I'm Henry Winkler, let me tell you about a great program to join before you kick the bucket, it is called a reverse mortgage and it is backed by full faith and credit by the US Government..."
The man who first taught us what it means to jump the shark, has jumped the shark.
Honestly, I don't know how I'd cope if it wasn't for the laffs here!
ROFL
I think the "substance" she has been abusing is cheap money...
Reality check time. $3000 in 1972 dollars is worth $16483 in 2013 dollars so she really only owes what she borrowed. She has had a 0% interest loan for 42 years courtesy of her neighbors.
Can the government sieze her estate when she dies to pay the loans?
The finance and bank people were bailed out.
Just loan to the max and shift funds overseas, then leave the US so the IRS can't go after you. Default on the 100s of thousands in loans.
I feel a strange urge to reread - admittedly the abridged version - of Decline and Fall.
We've got the endemic corruption and the uncontrolled borders and debt and we're losing the periphery of the Empire - if history rhymes, the Germans could well say "Fuck the EU" and turn toward the BRICs.
Germany, not Ukraine, is the key to a multipolar world, Zbig. I told you that shit 15 years ago....
Can the government sieze her estate when she dies to pay the loans?
Implying the US has a limit on its power and/or a moral compass.
Can the government sieze her estate when she dies to pay the loans?
only if she has one. with a good financial planner (like my ex butcher now with Merrill) she won't have a dime to seize
One of the most pernicious lies that has been sold to the public is that everbody -- or even most people -- need to go to college.
For most people, it's a goddam waste of time. "Organizational behavior?" Really???
Government should not subsidize any education except for STEM disciplines. We do not need more art majors, jewelry designers, basket weavers, social workers etc. being educated at enormous expense.
The chanelling of millions of undergrads into useless degree programs, paid for by subsidized loans, is the definition of malinvestment. There's a reason that a bank would never write these loans without govt guarantees: it's because they're economically and socially worthless.
Government should not subsidize any education except for STEM disciplines. We do not need more art majors, jewelry designers, basket weavers, social workers etc. being educated at enormous expense.
AMEN
Its the people's seeking to better themselves fault that the banks took over the country and charge an arm and a leg for education which is a must for a country?
Cool story bro.
So we shouldn't expect people to think for themselves? Who signed on the bottom line of the loan docs?
Most jobs don't need a degree. BUT - most employers demand one. I'd be getting paid 50k/yr less if I didn't have that piece of paper. And I am acutely aware of the fact that the paper makes no difference in my abilities to perform my job.
.."Government should not subsidize any education".
-there.. fixed it for you..
Dumb lefty, and "Obama life voter" if you work for a non-profit you can evade student loans or get out of liability entirely http://www.studentloanforgivenessplans.org/student-loan-forgiveness.html
You... you serious ?
What would be the very last debt of concern to someone with student debt? Of course it's the student loan, it is the number one unpaid private debt in the USSA.
No suprise at all, it would not be fair for debtors to be held to an agreement they made. Bitch if you will but little Janey & Johnny signed up and put the debt slave noose around their own necks.
I have realitives and old friends that actually worked their own way through college. Paid as they went along, imagine that! I know that is old school bullshit, would be possible in todays world. It's different this time!
Even if she settled the debt, the bank could still sell the paper to a collections firm.
Even if it's beyond the SOL date, that wont stop the collections firm from sniffing for cash.
They prey on the old and weak.
Don't be intimidated by letters and phone calls.
Call a lawyer or other specialist in this area.
Hope their fee is less than the debt charged off.
I thought Social Security was setup as a safety net for those who failed in life?
Is there no mercy for the meek?
God says they will inherit the earth from Warren Buffett.
Anyone notice, that whenever one of these articles comes on about student loan debt the left wing bible thumping conservative libertopian randroids come on and blame people for getting an education?
Germany just took away tuition for all their schools.
MIT has all their courses online.
What is wrong with an educated public again?
Don't make good wage slaves for the lower middle class to leach from?
Its almost like right wingers are afraid of education that doesn't come from a bible/pulpit.
I guess someone has to make MM wage, right?
We don't have a left/right in this country.
We have left and ultra left.
Right wing is truly nationalism, as were ze Germans during world war 2.
As Patton said, "We fought the wrong people".
Do you make straw men in your spare time, or is it your regular job?
Nebbish in HG, how crisp and clear the picture is that you are a complete I D I O T...
"originally $3,000"
Now lets go looking for the real Bloodsuckers!
3 warnings in a century
http://www.showrealhist.com/3warnsRD.html
Read this article:
http://www.huffingtonpost.com/2014/10/22/working-poor-amy-windish_n_6030...
She makes about $26,000/year. The problem is that 26k doesn't go nearly as far as it used to go just 10 years ago. Everything is just so much more expensive is the problem. This is also why people have a hard time deleveraging their debt.
Inflation is kicking our butts, and the Federal Reserve is to blame. The woman is making probably $15/hour and she can barely make ends meet. And i can relate...but at least I don't have any kids and no debt so I am afloat.
The system makes people riskaverse, unless you are rich. The exact opposite of what "Keyesian" policies should be doing.
The Fed has devalued the currency and hurt those living on fixed income.
It's a dirty secret no one wants to address.
There is no one in Congress who cares anymore.
NWO or Bust!
"
The Fed has devalued the currency and hurt those living on fixed income.
It's a dirty secret no one wants to address.
There is no one in Congress who cares anymore.
NWO or Bust!
"
When ever I see conservatards here whinge about the "FSA" I think of this.
The biggest FREE SHIT ARMY on the planet, the US Military.
http://youtu.be/LnWnS7UOZlI
Janet Dupree for Fed Chairman!!! -- oops, Fed Chaircunt.
"Inflation is kicking our butts, and the Federal Reserve is to blame. The woman is making probably $15/hour "
Honestly the only reply worth reading on this page.
And the MIC worshipping FSA of bible thumping warmongers here think $15 minimum wage is too high?
What a joke this country is.
Full of repressed sadistic right wing warmongers and communist left wingers.
A recipe for disaster.
Ooooooh I hates rabbits!
-Yosemite Sam
Make miminum wage $100.00 an hour. F it.
https://www.khanacademy.org/economics-finance-domain/microeconomics/cons...
Failure is not tolerated in America.
Work harder!
It's your fault!
There really isn't much that can be done for someone who is getting hit for one of these old student loans. A political decision was made somewhere by someone to shake the federal couch cushions and pick up all the loose change that was in there from students who defaulted. There have been three rounds of tightening the student loan laws since 1978, and it's gotten worse each time.
Now the government has not been the only bad actor. Credit card companies, auto finance companies, collection agencies and the courts and state law structures themselves have mostly slid backwards and allowed various means of sidestepping important consumer protections.
I got so mad at this I wrote a book, "Debt Hope: Down and Dirty Survival Strategies" ... if you or any of your friends or relatives have money problems it would be a good place to start.
Get a taste here:
https://www.scribd.com/doc/25443175/Debt-Hope-Down-and-Dirty-Survival-St...
Buy it here:
http://www.amazon.com/Debt-Hope-dirty-survival-strategies/dp/1907498524
HRH Hillary! (for which all of us are getting ready) is very responsible for selling out the consumer in the Bankruptcy Reformation which occurred years ago and makes student loans unforgivable. Yes, I know you can spend a fortune getting it discharged IF you get the right lawyer but most BK lawyers are nothing but paper pushers and bankruptcy mills. They don't have time to give a damn.
I applaud any HIV alcoholic with student loans. God love her.
bingo!
My situation is very close to hers, but i fought my way back from (close to) the grave after a debilitiating illness. Didn't think i'd live long enough to pay the bastrds back, so i actually lived on the school loans while the economy went slack. Pissed off a few of the entrenched academics while i was at it. That made me feel much better.
Wondering now if i should double down on SDRL ... gold stocks sure look good today.
so What? Its not like the good ole U. S of A will survive long enough to pay off our National Debt! On second thought it ain't my debt. Its the BANKERS ! :D
"
so What? Its not like the good ole U. S of A will survive long enough to pay off our National Debt! On second thought it ain't my debt. Its the BANKERS ! :D
And it will die when the banksters repo everything and everyone is homeless and starving. Except the free shit global military.
By then people will wish for death/concentration camps.
The universe, a global physical GOD, has a sense of irony when it comes to karma on the evil stupid people born into it.
Uncle Sam does not forgive or forget when you owe him.
Fortunately for Uncle Sam he can print his way out of every mess when he owes you.
Fuck Uncle Sam. He's one ugly and creepy dude.
So what all of you folks who are trashing her probably DON'T realize is that even though she identies as an ALCOHOLIC she is sober now...and probably has been for many years...most alcoholics at that age, with HIV would not get through college if they were still actively drinking/drugging. This is a woman who got sober, thought that the right thing to do was go to school to help others get sober so that maybe they could in turn become productive members of society.
The mistake she made was buying into the idea that higher education at her age is a smart thing to do, 'affordable', would enable to earn her more money. Additionally the health system, also rigged, requires that she have a college degree in order to be a 'certified' substance abuse counselor.
So let's not be angry with the cost of higher education ... let's not be angry with the fact that whatever place she works for requires that she have a degree to teach people what she already learned on the street and in the school of hard knocks ... let's not be angry with the cost of FINANCING higher education,
NO let's be angry with a woman who tried to get her shit together, will work until the day she dies, and will probably pay off as much of that loan as she is able (and is obligated to) until she dies.
HIV/AIDS wasn't round when Janet went to school.
Reads like Janet went to school, became? an alcoholic or intravenous drug user, caught HIV > changed her life.
I hear ya. But you're basing your premise that the debt was recently taken on. She went to Collega in her late 20s/early 30s during the Sixties/Seventies. Woman is now 72 and the debt is from 71. Her personal problems came later-on and have little to do with the debt story itself.
Why is this debt not forgiven when banks were made whole during the GFC?
That is the question we should all be asking our politicians. Forgive the fucking debt you cunts and leave us alone.
the future is bright!!!!
Maybe I should go back to school? I already have an AGRICULTURE degree which is apparently worthless.(but paid for) I could major in economics and take out a shitload of student loans, stiff the university and buy MOAR gold and silver. I would then show up to class, late of course, with a keg of beer and proceed to assault the Professor of Keynes with a verbal baseball bat of hard money economics. This way the kids could at least get some form of education.
Anyone here want to do that with me? We could meet the local police and teach the kids about how the law works or does not work.
The scary thing is 2008 does seem that far removed for many of us and is why this site exists. Think about it for a moment; the average age of a college freshman is 19. So therefore they were 12 or 13 years old in 2008. They do not know what really happened or why and they won't learn it at any university that I know of.
" Think about it for a moment; the average age of a college freshman is 19. So therefore they were 12 or 13 years old in 2008. They do not know what really happened or why and they won't learn it at any university that I know of. "
But they signed the dotted line!
Derp!
Its their fault!
I got mine now FU!
Herpy derpa derpa herp derp.
FSA!
Al qaeda!
ISIS!
Derpa derp.
War on terror!
Derp!
Derpa derpa FSA derpity derp derp strawman derp.
If that agricultural degree taught you how to farm you might have acquired valuable knowledge for when tough times come.
That is the problem with my degree.
I am just a white guy with a degree in agriculture and 20 years of field experience and I can't get a fucking job yet always seem to have one.
Do you think she paid tuition for her kids to go to college?
Th ball and chain ain't your wife... it's those damn student loans.
Any chance Biden's kid gets garnished?
No idea but that coke test failure could prevent him from getting a student loan.
you're kidding, the kid is an Ivy league scholar with sponsors throwing cash at him 6 ways to Sunday
How many more times can she vote 'P' before she dies? It's important to establish her consistent voting record before she dies, so that her after-life votes do not raise too many red flags.
I was in college in 1971-72; it cost me about $350-$375 per semester to attend full-time. That includes everything except rent, which was $50/month. So somebody explain to me how you rack up $17 K in student loans from this same time. I can't believe a private bank gave her this much cash, even if it was guaranteed by Uncle Sam.
www.traderzoo.mobi
She only borrowed $3,000. Compounding interest is a bitch.
Compounded interest. You can play around with that here: http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Type in the original amount that she borrowed (3,000). Run time 42 years and interest of let's say 4%. The answer I got was $15,578. On this site it is for savings but it also applies to debt.
I think I could get the interest on her debt forgiven. Put me in contact with her. Your readers a generally clueless about alcoholism, but that's another story.
Has anybody every crunched the numbers to compare how much it has cost us to humanely stabilize society by subsidizing the poor or otherwise socially dysfunctional against how much the .1% have legally stolen from society since 2007?..not to mention other goodies like militarization of police forces, reduction in availability of decent food and medical care...I think the .1% would be FAR the worst parasites.
the theft and graft go back longer than 2007
and no, the math has never been done because to even dare ask the question is not the American thing to do
I'm sure the Patriot Act 1 or 2 have a clause on that line of thinking or questioning addressed somewhere
Dentures out hum-jobs only take about 5 minutes and should net 40 or 50 bucks. This gal is a walking gold mine, just get her over to Pensacola near the naval base.
"This gal is a walking gold mine, just get her over to Pensacola near the naval base."
You are a cheap pimp.
I take my hoes to Ft. Benning.
Most "seamen" are light in the loafers.
Army men will screw anything.
Just like college girls.
Maybe the next Democratic Vice Presidential candidate?
She won't be able to pay it back, and won't. Good for her
None of us should pay any of it back as well. Just quit paying. Let them maintain their theft and ponzi without us. They stole it from us in the first place.
An American, not US subject.
The most powerful weapon the American people have is Rejection.
The system of fraud and theft that has been built up upon the backs of the American people is dependent upon our backs. Withdraw our backs, and the whole scheme collapses. This is our greatest weapon.
Quit Paying--Put it into food, and precious metals, etc.They stole what ever "debt money" they loaned you in the first place (fractional reserve banking) and soon you won't be able to pay them anyways.
Quit Obeying--If they are in violation of the Constitution then they are not legitimate anyways.
Quit Playing--Quit being a tool for them to use.
The Four Rs
Rejection: Quit paying, quit obeying , quit playing
Revolution: It is inevitable, so prepare, as they are.
Retribution: The guilty must answer for their crimes against the American people and the Constitution.
Restoration: Restore the American people, country and Constitutional republic.
I gotta keep my FiCO score above 800.
"Quit Obeying--If they are in violation of the Constitution then they are not legitimate anyways.
"
This solution only leads to one outcome.
Them or me.
that's the kicker and worth expanding on further
things are getting worse, not better - FOR EVERYONE
the sooner this is realized and people reject or withdraw as you suggest the sooner we can have real change
this fucker needs to crash and burn with millions of state or federal employees not able to make a living on their fiat paycheques
that's how the USSR fell apart
Ways to think about debt and one's obligation to repay.
1) Real Debt: I work and the boss pays me. You borrow from me, so I cannot consume part of my production because I loaned you my claim on that production. You are expected to pay me back from your future production plus some, interest, for the privilege/favor. If you do not pay me back, then I have lost the claim on production forever, because you consumed it.
It would be wrong, amoral, and a form of theft, if one did not to repay this type of debt.
2) Bankster Debt: I work and the boss pays me. I put that pay in the bankster system. The bankster system then steals my deposit money and also counterfeits more money on top of that. This money, fiat, is then loaned to someone who now has a claim on current production of the economy that he wouldn't have had otherwise--the banksters steal , and then facilitate more theft by the borrower.
The borrower is then expected to pay part of his future, and real, production to the banksters in the form of principal and interest which the banksters funnel to themselves--the banksters have converted their thefts into a flow of real goods and services to themselves. In effect, the borrower is paying back himself, as a depositor, and more to the banksters for the "privilege" of using his own money.
If the borrower defaults, the banksters will then take possession of the collateral, the real property, tied to the loan.--The banksters have now converted their thefts into ownership of real property.
If enough loans default quickly enough, the banksters then officially announce that they stole their depositors' deposits and allow them token equity in their criminal enterprise--a "bail-in."
The bankster way is dependent on us, their victims, on paying them for the privledge of using our own money, production, which is to say, redonkulous! Quit paying them, and the system crashes, and we can begin to keep what is ours for ourselves.
Just QUIT paying them. Quit. You, we, have no obligation to repay what is essentially theft from us.
An American, not US subject.
Next they will come after her non-existant estate, and then laws will change to match Mexico, where the children have to pay the parents' debts.
The debt in question: Dupree owes $16,000 in student loans she acquired in 1971 and 1972.
C'mon now, she never had any intention of paying back that debt unless she's been 'sick' for 42 years now. The only reason it's become an issue for her is because now they are going to force her to pay by virtue of garnishing her wages and/or withholding from her retirement funds.
This is what sucks, while it's very hard to feel any sympathy for the banksters, it is also hard to have a lot of sympathy for someone like this that has been playing the system for 72 years and now got busted so to speak.
" a lot of sympathy for someone like this that has been playing the system for 72 years and now got busted so to speak."
Those poor, money printing, war causing, nation wrecking, planet destroying, idiocracy bankers who created the problem to begin with are victims of making money out of thin air to charge this old woman.
--Fixed to reflect what you really mean
A 72 yo grandma stricken with permanent adolescence?
Your family will pay it off. They probably hate you.
An alcoholic working as a substance abuse counselor..
Yeah. That sounds about right.
It's not all that different from how the system in general operates in "the new normal", including the part about not paying back the debt..
It beats the snot out of some kid with a freshly minted degree with absolutely no street smarts. In fact, it is the old school normal.
Hey so that plane shot down over Ukraine, and that evidence of Russian troops inside and/or shelling Ukraine proper....
Sorry , I took a couple days off from the news for mental health reasons - what happened with all that stuff?
And they're still investigating the mass graves and the fire-murders at Odessa, is that right?
Are we sure her last name isn't Yellen?
It's probably her sister...but I bet she's an Obama supporter.
Yellen has a monetary addiction, and is not recovering, but is in serious need of intervention
How in the heck does someone have Student Debt from 1971-72 ? Seriously, she didn't think to pay if off over the past 40 years ?
be careful now.....not polite to point that out these days due to bankster hatred. I guess total anarchy is the solution.
umm, isn't there a step in there about making amends? Perhaps she thinks amends to the government aren't necessary for a clean conscience and sobriety. Pay 'em their fucking money you DID borrow it, right?
Fuck this lady.
Even though she's HIV +???
Is the point of this story supposed to be that we should feel sorry for her and other old people with lifelong student debt or just to point out the big bubble? I don't feel sorry for her or anyone else who has student loan debt as nobody forced them to go to school. Sure it sucks for them yet there are many issues people deal with that suck and nobody really gives a shit about those issues.
Maybe many people out there who have heavy debt or are tight financially shouldn't go and get married and have a billion babies and just make their situation worse. Oh wait, that'd mean humans actually took some responsibility and accepted things they want can't happen in their current state. It pisses me off when I see people with tight incomes and no savings go and have kids and then whine about their money situation being even worse. Don't fucking have kids. Simple.
I'm sure after spending the large amount of money for learning Spanish, she doesn't speak Spanish.
For $3,000 in 1970 or $16,000 today, she could travel, live, eat and study Spanish (even with a personal tutor) for a year or two in any South American country. She would learn much more than at an overpriced American college.
But it was so easy to get a loan.
She originally borrowed 3,000, and now owes 16,000?
Anybody who doesn't see a problem with this is blind. Why on earth would a debt of 3 thousand be allowed to grow to 16,000?
Compound interest is an unnecessary evil. The whole concept needs to be rethought. There is no practical reason it has to exist, and in a system dealing with such huge numbers, it is unsustainable.
At the very least, all debt should be capped once it double from the original amount. Either that, or give people the right to "freeze" the loan and go to pay-down mode once it does.
If the goal is to get these loans paid, then there should be no problem with this. But, that isn't really the goal...the goal is debt-slavery. These people KNOW the debts won't be repaid, they just want the right to keep tapping into you for life.
Only "fair" way to solve this is to give everyone $16,000. (The FED can do that at the press of a button).
Plus, it is another avenue for funneling more money to banks (under the guise of "student debt reform")
Compounding interest after 40 fcking, yes 40 fcking years. Seems like your bemused observer status is more akin to living under a rock ;)
I find it amusing that she is a substance abuse counselor and she is an alcoholic! Talk about the pot and the kettle!
Substance abuse counselors are often recovered substance abusers.