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In Obama’s War on Seniors: some losing part of their SS check to repay defaulted student loans
coachisright.com ^ | AUGUST 24TH, 2012 | Derrick Hollenbeck, staff writer

Posted on 08/24/2012 8:29:29 AM PDT by jmaroneps37

Barack Obama’s war on America’s seniors knows no limits. The Treasury Department is withholding part of the Social Security monthly payments of about 115,000 seniors because they have fallen behind on student loan payments. There was a time when Social Security benefit payments were untouchable, but that is a thing of the past.

Obama’s War on Seniors is growing at such a rate that the number of effected seniors has almost doubled in just the last year. These size of the payments being withheld are not insignificant.

Depending on the circumstances some run up to as high as 15%. With the average retiree’s benefit payment at about $1,234, the monthly bite could be nearly $190.00.

What’s worse is that many seniors don’t realize that they are still liable for their student loan payments even though they have been pushed out of the working mainstream by Barack Obama’s fiscal policies.

Thanks to younger relatives, often grandchilderen, who are out of work and unable to repay these loans (for the same reasons their elders are either retired or working as Walmart greeters), people who never set foot in a college classroom are having to suffer these reductions in their small Social Security benefits.

New Jersey attorney reports he has represented six clients in last two years who have fallen into this repayment trap because they co-signed a student loan application for a grandchild.

Still others have gotten into trouble because, in an attempt to improve a personal resume, they took out a student loan for Graduate school degrees that ultimately came to naught.

“…attorney tells of working with 83 year old veteran co-signed to cover the tuition of his son in e 1990s only to find that because both of them have fallen behind…

(Excerpt) Read more at coachisright.com ...


TOPICS: Government; Politics; Society
KEYWORDS: 2012; democrats; elections; obama; obamatruthfile; socialsecurity; studentloans
It's sad to see who the greeters in Walmart are these days?
1 posted on 08/24/2012 8:29:37 AM PDT by jmaroneps37
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To: jmaroneps37

They’re being held responsible for their debts, what a concept.


2 posted on 08/24/2012 8:34:34 AM PDT by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: jmaroneps37

If you take out a loan and fail to pay, your wages/social security are attached to pay for those loans - good.
If you co-sign on a loan and fail to pay, your wages/social security are attached to pay for those loans - good.
Don’t take out loans you can’t afford to pay back, and never co-sign for loans you can’t afford to pay back.


3 posted on 08/24/2012 8:36:23 AM PDT by svcw (If one living cell on another planet is life, why isn't it life in the womb?)
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To: jmaroneps37
If you don't want to be on the hook for someone else’s loan, don't co-sign the loan. If you do co-sign a loan and the loan isn't repaid, you will have to pay it. If you don't pay off the loan, you'll get hit somehow. I feel sorry for geezers whose grandchildren are deadbeats, but it is just that their SS should be docked.
4 posted on 08/24/2012 8:36:27 AM PDT by utahagen
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To: jmaroneps37

Just ginning up support amongst Senior Citizens for Obama’s upcoming Student Loan Forgiveness proposal.


5 posted on 08/24/2012 8:37:31 AM PDT by Buckeye McFrog
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To: jmaroneps37
What’s worse is that many seniors don’t realize that they are still liable for their student loan payments
Really? Did they think all their debts would disappear when they turned 65?
Just another example of 21st Century irresponsibility. If you owe it - pay it.
6 posted on 08/24/2012 8:38:05 AM PDT by oh8eleven (RVN '67-'68)
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To: PLMerite

good. i’m paying off my school loans again. first time 1990 i paid the minimum because the interest rate was higher on my savings than the loan. now (another stint at school in 2000s) it may be more cost effective to just lump sum pay off the rest. only a couple grand left.


7 posted on 08/24/2012 8:41:09 AM PDT by bravo whiskey (if the little things really annoy you, maybe it's because the big things are going well.)
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To: jmaroneps37
Seems like Sympathy for seniors on this issue can be found in the Dictionary between the words sh!t and Syphilis.

What a novel concept, having to repay your loans. An what is more amazing is Freepers backing an Obama action.

8 posted on 08/24/2012 8:44:19 AM PDT by where's_the_Outrage?
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To: jmaroneps37

This is a tough one.
That Generation believed in paying their debts
so this must hur them
and slide them into poverty.

lesson learned
NEVER co sign a loan for a relative or actually anyone Ever

and FYI our walmarts did away with greeters
but kroger still hire plenty of seniors.


9 posted on 08/24/2012 8:46:24 AM PDT by RWGinger (Simpl)
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To: jmaroneps37

War on Seniors... I get the idea of illustrating the left’s abuse of language by using it against them, but I think it is ineffective, immature and equally moronic as anything they say. Play tit for tat with a boob and you’ll always be the tat.


10 posted on 08/24/2012 8:47:09 AM PDT by douginthearmy
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To: jmaroneps37
The college and university tuition scam rolls on.

The "education mafia" has been escalating the costs for decades now. They have bankrupted families who were gullible enough to fall for the scam. Salaries of college and university employees have likewise skyrocketed, while the quality of education has plummeted. We now have "McStudy" degrees of every political boot camp stripe. Obama is robbing Social Security the same way his Treasury raided Federal retirement pensions during the budget crisis of last year.

The "Occupy" vermin who majored in "Gay-Bisexual-Transgendered-Feminst-Greivances" want someone else to pay their ten ton loan bills.

11 posted on 08/24/2012 8:53:35 AM PDT by SkyPilot
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To: RWGinger
Cosigning a loan for a relative is one of the worst things most people can do because the realtive is likely to pay off all of her other creditors first and then try to guilt the cosigner out of his repayment. Remember, she only went to you because she believed you'd never really ask to have the loan repaid.
12 posted on 08/24/2012 8:57:04 AM PDT by libstripper
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To: PLMerite
They’re being held responsible for their debts, what a concept.

Yeah, but it's not necessarily "their" debt.

Back when the "seniors" were old enough to be in college, few people needed to take out college loans. The easy availability of government-subsidized student loans today has been matched by exponential increases in college costs, so that's not the case so much anymore.

I'd expect that these seniors are getting their SS payments cut because they co-signed for their kids' student loans, not because of student loans of their own.

I have a sister and brother-in-law caught in that trap, and neither of them went to college, but their kid ran up $100 grand in debt at Loyola of Chicago, and now she can't make the payments, so they are struggling.

13 posted on 08/24/2012 9:13:54 AM PDT by Kenton
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To: jmaroneps37
Worked for the Social Security Administration in the 60’s, recovering overpayments from little old ladies who forgot to tell them about that part time job they held. We went after them hammer and tongs. Nothing new here.
14 posted on 08/24/2012 9:15:11 AM PDT by ArmstedFragg (hoaxy dopey changey)
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To: FReepers; Patriots; FRiends

Please Donate Today

15 posted on 08/24/2012 9:17:20 AM PDT by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: jmaroneps37

Sounds like a conservative thing to do. Do we support deadbeats now on Free Republic?


16 posted on 08/24/2012 9:19:13 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: PLMerite

Exactly - I despite Obama and his Klan of racist America-haters... but these “Seniors” have a debt they are responsible for. I see this as no different than garnishing wages...


17 posted on 08/24/2012 9:24:29 AM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: jmaroneps37

If you don’t pay your income taxes the SS deduction doesn’t go into SS so you don’t get credit for those quarters to qualify either. You aren’t going to get away with not paying in and still taking out just because you are old and poor.


18 posted on 08/24/2012 9:31:25 AM PDT by dblshot (Insanity: electing the same people over and over and expecting different results.)
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To: jmaroneps37

Hmmm...sounds to me like OBozo’s team is actually doing something right. ‘If you made the debt, you owe the debt...now pay up.’


19 posted on 08/24/2012 9:32:51 AM PDT by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: RWGinger

“This is a tough one.
That Generation believed in paying their debts”

...time has passed by quickly. These “65” year olds were in school in the mid to late 60’s. “Great Society” entitlement mentality. I’ll bet if they took a closer look at these loafers they’d find left wing, wirey white haired Subaru driving hippies.


20 posted on 08/24/2012 9:37:18 AM PDT by albie
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To: jmaroneps37
Hey Obama

How about also deducting from paychecks to any and all government employees with outstanding student loans?

I know, I'm probably seeking some kind of equality that will never, ever exist but as I paid for those loans with my taxes, I'd like to see those deadbeats forced to repay the U.S. taxpayers.

I know that will never happen but I'm still hoping.

Hoping for Change in November,

U.S. Taxpayer

21 posted on 08/24/2012 9:37:43 AM PDT by zerosix (native sunflower)
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To: Kenton

“I’d expect that these seniors are getting their SS payments cut because they co-signed for their kids’ student loans, not because of student loans of their own.”

If you co-signed for it, it’s your debt.

I’m at that point where my life can best serve as a bad example for many things, but I knew to never co-sign a loan.


22 posted on 08/24/2012 9:40:51 AM PDT by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: PLMerite

I agree. They signed, they owe. Period.


23 posted on 08/24/2012 9:41:30 AM PDT by ataDude (Its like 1933, mixed with the Carter 70s, plus the books 1984 and Animal Farm, all at the same time.)
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To: SkyPilot
The "education mafia" has been escalating the costs for decades now. They have bankrupted families who were gullible enough to fall for the scam. Salaries of college and university employees have likewise skyrocketed, while the quality of education has plummeted. We now have "McStudy" degrees of every political boot camp stripe. Obama is robbing Social Security the same way his Treasury raided Federal retirement pensions during the budget crisis of last year.

I agree and it is much worse than this. During my Daughters orientation they sent all the parents off to an auditorium for a presentation. They laid the BS on thick.

First, they told the parents (who are paying the tuition) that it is their child's decision as an adult on what to major in. Really?

Second, they explained that college is really expensive and the students may have to take out loans. Again, I'm shaking my head. Why?

Finally, they flat out promoted fraud. They explained that parents and grandparents could cosign the loans. They further explained the parents could default legally on them by becoming disabled. This was stated by the assistant dean of general studies.

At that point the back two rows, including myself walked out of the auditorium. I was furious.

I have mentioned previously about my wife being a Neurologist. When I told her about this she went ballistic. It seems she has been asked repeatedly to fill out disability forms for this very reason. We saved and pay cash for our daughters major on the condition that the major be employable and she maintains a 3.5 or above. Happily she has chosen Petroleum and Gas Engineering with a Math minor as Her course of study.

I do not have sympathy for those caught up in this now.
24 posted on 08/24/2012 10:20:07 AM PDT by PA Engineer (What if the rabbit hole is endless?)
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To: PA Engineer
Happily she has chosen Petroleum and Gas Engineering with a Math minor

So if Romney wins, she is looking at a six figure salary once she has a couple years of experience under her belt. Of course, if Obama wins, she may be tried as a criminal and sent to reeducation camp to get her degree in Alternative Energy with minor in Pixy Dust.

25 posted on 08/24/2012 10:43:28 AM PDT by douginthearmy
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To: PLMerite
If you co-signed for it, it’s your debt. I’m at that point where my life can best serve as a bad example for many things, but I knew to never co-sign a loan.

Well, I'll double down on that, I certainly know better. I feel bad for the people who got caught in that trap because most of them were motivated by a desire to help their kids get a college education.

Up until about 2008, most people were confident that the economy would just keep chuggin' along like it had been, and that the kids would get good jobs after they graduated and pay off their own damn loans. But then we elected Obama, and you know how that's gone...

And now, four years later the loans are coming due.

26 posted on 08/24/2012 11:16:32 AM PDT by Kenton
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To: douginthearmy
So if Romney wins, she is looking at a six figure salary once she has a couple years of experience under her belt. Of course, if Obama wins, she may be tried as a criminal and sent to reeducation camp to get her degree in Alternative Energy with minor in Pixy Dust.

True. They are grabbing these students strait from graduation at 90K+. In western pa we are sitting on top of a new saudi arabia. If Romney gets in, then she will be working and staying close to home. If not, I'm afraid the Russians or the Chinese will be demanding her services. Sadly, that will be the only option for her. We are just happy she decided not to go into premed.
27 posted on 08/24/2012 11:16:50 AM PDT by PA Engineer (What if the rabbit hole is endless?)
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To: jmaroneps37

Obama sez, “You old folks Can go pound sand!”


28 posted on 08/24/2012 11:29:48 AM PDT by vpintheak (Occupy your Brain!)
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To: jmaroneps37

The point of this article is NOT - “Oh gee whiz people who co-signed a loan shouldn’t have to repay it.” The point is because of Obama some seniors and their grandchildren CAN’T repay the loans! The dopey kids that voted for Obama kept themselves from getting work when they graduated put their parents out of work AND put their grandparents BACK to work or kept them from retiring. The War on Seniors is Obama’s economic war on all of us, but it hurts those on fixed incomes the most.


29 posted on 08/24/2012 11:31:40 AM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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