Posted on Dec 7, 2016
New Jersey Will No Longer Collect Loans From Families of Dead Students
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My distain for Christie notwithstanding, I must admit that this is something he got right
New Jersey Will No Longer Collect Loans From Families of Dead Students
Posted from propublica.org
College
Loans
New Jersey
Posted 8 y ago
Responses: 2
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When it came to my daughter's education, we made fiscally responsible decisions that we could handle in case of economic down turns. Even though she qualified for the shiny, prestigious Ivy league, we did the fiscally responsible thing and sent her to a less costly institution. So I have little sympathy for those that weren't responsible, but will reap economic advantage over my daughter, and then want me to cover the shortfall with my tax dollars, when they fall short.
So, I guess I am Scrooge McDuck. If the family co-signed for the loan, they are on the hook. If they didn't, there should be a quick assessment by the executor of the will to determine if there are enough assets in the dead students estate to make full, or significant partial repayment of debts, and the debts should then be paid.
The USA would be better off if our word was our bond.
So, I guess I am Scrooge McDuck. If the family co-signed for the loan, they are on the hook. If they didn't, there should be a quick assessment by the executor of the will to determine if there are enough assets in the dead students estate to make full, or significant partial repayment of debts, and the debts should then be paid.
The USA would be better off if our word was our bond.
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SSG Michael Hartsfield
So you believe that the family of the deceased should still be on the hook for their debt?
What if they were responsible for their payments but died? That's tantamount to saying "Sorry for your lost but that's no reason for the deceased to be a deadbeat."
It's not enough for us to just have our word be our bond. Sometimes, that bond needs to be coupled with simple human decency, which is what I'm seeing from Christie's decision to do this
What if they were responsible for their payments but died? That's tantamount to saying "Sorry for your lost but that's no reason for the deceased to be a deadbeat."
It's not enough for us to just have our word be our bond. Sometimes, that bond needs to be coupled with simple human decency, which is what I'm seeing from Christie's decision to do this
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Maj John Bell
SSG Michael Hartsfield - If I co-sign for my daughters loan, I am giving my that I will pay that debt if for any reason she is not able or chooses not to. Based on that, the lending institution evaluates the risk and makes a decision whether to loan her the money, or not and at what interest rate.
Cold, cruel, heartless banks are owned by shareholders. State Guaranteed loans are guaranteed by citizens. Despite what Dudley Do-Right Cartoons and Hollywood tries to portray, those banks are not owned by Snidely Whiplash and evil financiers. They are owned by middle class shareholders and working class people that have pension plans and 401(c)3's. If I cosign for a loan, I do not expect for them to put their families second and carry my load. That is simple human decency.
If I did not cosign for the loan, I have assumed no responsibility to pay the debt. Based on that, the lending institution evaluates the risk and makes a decision whether to loan her the money, or not and at what interest rate.
Cold, cruel, heartless banks are owned by shareholders. State Guaranteed loans are guaranteed by citizens. Despite what Dudley Do-Right Cartoons and Hollywood tries to portray, those banks are not owned by Snidely Whiplash and evil financiers. They are owned by middle class shareholders and working class people that have pension plans and 401(c)3's. If I cosign for a loan, I do not expect for them to put their families second and carry my load. That is simple human decency.
If I did not cosign for the loan, I have assumed no responsibility to pay the debt. Based on that, the lending institution evaluates the risk and makes a decision whether to loan her the money, or not and at what interest rate.
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