Tuesday, September 16, 2014
Seniors Forced Into Poverty As Education Department Demands Payment
http://www.huffingtonpost.com/2014/09/11/seniors-education-department-student-debt_n_5807820.html. DUE 22 September 2014. Why is the Department of Education deducting loan payments from social security payments? Is this a good thing or a bad thing?? How does this affect you and the price of your student loans???
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They are taking loan payments from social security because it is the governments loan, and why should they pay you your social security when you owe them money? If you owe someone 10$ and they owe you 20$ why would they give you 20$? They'll subtract what YOU owe them and give you what is yours. The elderly are lucky that the government isn't taking every penny of social security. This isn't a GOOD or BAD thing, it's just life. When you owe someone money you have to pay them back. That's how it is. This will make student loans more expensive, the moral of this story is don't take out loans that you think you might now be able to repay. Get your kids florida prepaid so hopefully our grand kids won't be drowning in school debt.
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The Department of Education is deducting student loan payments because some elderly people who took out student loans never paid them back. These people took out student loans so that they could attend college, but they disregarded the fact that that money needed to be paid back to the government. The government has all this missing money which they did not get back from those people. The Department of Education lost a lot of money because of these people who never paid them back, so they suffered because of that. They need this money back, so they decided that the only option is to take that money from the social security checks that the elderly get. This was their only option, because those elderly people do not work anymore, so they are not getting any income. If the Department of Education tried to confront any of these people to tell them that they still had to pay back a large sum of money, most would never agree nor even remember they had to pay that money back at all. I don't really know whether this is good or bad because some of these people don't even know that their social security money is being taken away. It is almost like stealing because they don't have any knowledge what is happening. Yet, I do know that those people borrowed money and they had a responsibility to pay it back. If they were smart people they would have set up a plan to eventually pay off their debt so they wouldn't have to worry about it in their later years. This affects me because when I go to college and if (which I probably will) need student loans, the interest on my loans will be much higher than it was back then. I will have to pay more than the loans I borrow because the interest will build up and it will cost me much more than what I initially borrowed.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the elderly were not able to pay off their student debts when they were supposed to. Considering that they still owe the government money, the government doesn’t want to give them as much social security money. I think this is both good and bad. It is good in the sense that they should pay off what they borrowed but, it is bad because the increasing numbers of poor elders is significantly increasing. Having more poor people in our society is not only affecting them but, it is also affecting their friends and family. The kids of the elders might have to help pick up all of the pieces. They may have to help them pay off their debts or they might have to take them into their homes. Also, more elders might be looking for jobs (such as Publix and Target) and this will leave less for teens and adults who are also trying to make a living. This problem is affecting me because it is increasing the interest rates of the student loans that I might have to borrow. The elders probably never realized that this would have such a significant effect on their children and grandchildren. If they would’ve paid off their debt when they were supposed to, we would have never had this problem.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because many elderly people were irresponsible when it came to paying loans back. There is even a grace period. Those elderly people are now confronted with the results of their neglect. It sounds sad but it is beneficial for America. I have learned that I must be responsible for my actions. Nothing in this world is free.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the elderly people who went to college and took loans out didn't pay back their loans. They didn't think they have to pay it and there was no consequences, but it backfired on them when they got older so now they have to pay all of it back. That is the only way the government could get their missing money back from all those elderly people because they don't have a job anymore so they do not even get a pay check. It is kind of a good and bad thing. It is good because they will learn their lesson so they can tell their kids/grand kids to pay their loans. Also, the government would be able to get all the missing money they lost from long time ago so they could pay the national debt. Also, it is a good thing because they can't just live a life without paying back all the money they burrowed and for us to pay it for them. It is a bad thing because now they don't have any money at all to live by themselves so they have to move back into their kids home and live with them. Their kids have to pay everything now for their family, plus they have to pay for their parents too. Now they make their kids pay double the money. It affects us because some of the elderly people go get a job as a bagger or a cashier, which us teens won't have a spot to have a job because all the elderly people took it all. Another thing is that our interest rates go skyrocket, not really, but it goes up. So when I go to college and take out student loans, it will be so much. So everyone should take responsibility and pay their student loans and we wouldn't have this problem. The elderly people probably didn't see this happen in the future.
ReplyDeleteThe Department of Education is deducting loan payments from the social security payments because of the elderly people that didn't bother to pay off their student loans to go to college. this is mostly a bad thing as forcing many elderly people into poverty, adding up the debt, and leaving the new generation of students to pay off their debt if some the elderly passes away before they could pay off their debt. with all this, this might add to the price of my student loan considering the elderly didn't pay off their loans.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the people who took them out never payed them back. There reckless behavior when they were young is now coming back to haunt them. Most of these older people are retired and won't pay back what they took, so the only way for the government to get what's theirs is to take it. This isn't really good or bad because theres two sides the good is that "theres no such thing as a free meal" so these people are technically stealing and the victim(the banks) are getting back what's theirs. The bad side to it is that if these older people have nobody to care for them they will become homeless. This is going to affect me because chances are i'll take out student loans and the interest is going to be very high on them. I'm basically suffering the consequences for the generations reckless behavior. - SAM MOHAMMED
ReplyDeleteThe Department of Education is deducting loan payments from social security payments is due to the fact that the over forty million Americans in debt didn't pay their student loans off when they got higher education. Now these people are going into debt. This good in a way because these people failed to pay what they owe, and now they're paying for it unintentionally. This affects me because now the price of my education most likely won't rise because of others decisions not to take care of their responsibility, which is good.
ReplyDeleteThe Department of Education is deducting loan payments from social security because the senior citizens took loans out when they were in their 20's to get into college, and they never ended up paying back so they are now getting money taken out of their Socail security retirement money. The only way the government could get back the money they've given out as a loan is to take it from the people that borrowed it, in a way that they won't notice. I believe that this is a good thing, because if you're willing to borrow the money and take on the responsibility, then you have to be able to be responsible and pay back everything you've borrowed. This will also lead to young adults being more responsible for the money they spend and make them realize they need to be more cautious in saving. This affects me because it leads to my loans becoming more expensive in college and having to pay back more interest. Leading to long term payments.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because elders did not pay of their student loans when they were supposed to, resulting in the government having to pay off the debt they have acquired. This is a positive and negative thing at the same time, and will only benefit the United States. People should have to take responsibility for their actions, and need to pay back their debt. Without this, people have the thought that nothing has consequences, and debt is something that doesn’t matter anymore because they have graduated from school. It’s negative for the elders who did not pay back their debt, but beneficial for the government, because they are now paying back the loans, without having to necessarily use their own money. This affects me because when I go to college, and might have to take some student loans to pay for everything, the interest will be higher on the loans. I’ll have to pay more than the loans I borrowed because the interest rate will raise the price of the loans, making it cost more than originally would.
ReplyDeleteThe Department of Education deducting loan payments from social security payments because the present day seniors once took out student loans with no intention of repaying them. During the time they were in college to the time they graduated if these senior had took a small portion of their income and paid their off the loans while they were able to work, they wouldn't be faced with this predicament now. This is called responsibility and good money management. Instead of doing the ethical thing, they tried to dodge making payments and are now facing the consequences of having the government deducting money from their social security checks. Regardless of the fact that if you receive social security payments of $750 or less per month, the federal government wouldn’t be able to take anything from your social security checks,that would only apply to a percentage of senior citizens. In the end only the government wins,because I think that these seniors are paying more now than they would in yester years.
ReplyDeleteAccording to a government audit, The Education Department is deducting student loan payments from seniors with default senior loans. This is forcing these seniors into poverty. These elders took out senior loans to go to college and study, although they never ended up paying them back to the government. According to GAO, the Education Department-initiated collections on defaulted federal student loans which left at least 83,000 Americans, aged 64 and younger with poverty-level Social Security payments. Due to these elders owing the government such an abundance of money, the government is taking away a portion of their social security money to make up for the debt. Due to the elders student loans occurring most likely a long time ago, the elders hardly remember anything about it. I am conflicted between whether this is a good or bad thing occurring. Yes, the elders should be on top of money that they owe to the government. If they owe the government money that has been taken out by student loans, they should keep that into consideration and should have paid off the loan by now. Although, I disagree as well because it is a bit unfair that the government is now taking away their social security money leaving these elders in poverty at the time they most need money. Due to these elders being in poverty, they will try to go out to find a job to make up from the money that they lost. This will therefore take some of the opportunities away from teenagers that are trying to start making a living for themselves. There is also a negative factor that some of these elders are not even aware of the fact that their social security is being taken away. All of this will affect me in the future because when I attend college, I may need to take out student loans. If I do need student loans, the interest rate on my loans will be significantly higher than they already are now.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments as a way to repay the rising amount in overdue uncollected student loan payments. In my opinion, this is a bad thing. Throughout the article, this viewpoint is also upheld through statements such as "With consumer spending powering much of the economy, any reduction in household expenditures is likely to dampen growth." as well as "Rising student loan debt also risks leaving Americans with less money for their retirement, as ever bigger chunks of workers' paychecks are devoted to repaying education loans." While I believe it is important that people repay their student loans, inflation rates and decreases in salary and social security is not the answer to our problem. This affects me and the price of my student loans by indicating there will be an increase in inflation rate from now till the time I attend college according to the historical rates. With this inflation, I may become in debt, my credit score will decrease which will make it harder to be a highly functioning member of society. And indirectly if I do not take out a student loan, I will be suffering a much worse fate than the seniors who are paying for other people's loans. This regardless of my choice will affect me due to the stunt in economic circulation.
ReplyDeleteThe retiring generation of baby boomers who have not paid back their student loans, are now getting it deducted from their social security. Now their retirement dreams are over and they'll have to start working again in order to have an income above the poverty level. This is obviously a bad thing for them. If the money to pay back their loans isn't taken out of their social security then I would be affected by interest rates on student loans rising. I personally think the elderly have it worse off. All I would have to do is pay back my loans and be responsible about it. Unfortunately, many students will most likely continue to repeat the mistake that these retiring citizens made.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the older generation has not payed back their student loans to go to college. Those older people weren't responsible enough to pay back those loans and now it's come back to them to bite them in the butt. In my opinion, I would say that the government had no choice but to take action and take back the money by taking some of the social security money of the elderly to pay off the debts they have. I would say that this is a good and bad thing. The good part of this is that the government is getting their money back to pay the national debt, the elderly can reflect back on this one day and never make that mistake again by telling their grand kid’s about taking out loans and without paying it back, and because the future generation won’t have to pay back the money of the older generation because of the rising student loans. The bad part of this situation is that the elderly who didn't pay their student loans will go broke, they will have to start living with their kids or any other family member which could put strain on the whole family, and they take all the jobs away from the teenagers who are trying to look for one because the elderly are trying to pay back their loans. This affects me because when I go to college and take out a loan it will be a lot of money plus a high interest rate and I might end up like the older generation without a dream of retiring.
ReplyDeleteElders that have not yet paid off their student loans are seeing this catch up with them now. The interest added onto student loans has dug them deeper and deeper into this hole they are in. The government began taking the money owed out of their social security savings. I think this is the right thing to do. Money is everything to not only the government but regular everyday people as well. People should have planned out the career they wanted to pursue before asking for large amounts of money. If this career they were going on to pursue couldn't make enough to pay back the loans with interest, they shouldn't have borrowed the money. These decisions effect our generation now because it is raising interest and college costs for us. Now as we are actually learning and listening how to manage our money in order to retire without money being deducted from our social security, our loans and tuition are going to be so high we'll have to have 16 million dollars to retire.....at least. So thank you elders!
ReplyDeleteThe reason why the department of education is deducting loan payments from social security payments is due to the fact that the elderly weren't paying back debts from student loans. The elderly thought they can attend college, get student loans and not have any responsibility on paying it back. They soon got a reality check that by assuming and not doing anything about it, they now have to pay the government back through their social security. I personally think this is a good thing because the elderly that are going through this situation should of handled things better and planned out their career. They should of thought to themselves if they would of been able to afford paying back student loans because now it's back firing them and leaving them with no money what so ever which is a lesson well learned. It's also a bad thing for us because if the elderly need a job, they are more likely to get the job then us teens. It is affecting our generation by raising Interest rates by the time we attend college which sucks for us since it's more money we have to pay. If the elderly would of known about what could of happen just by not paying back their loans, maybe they would of made wiser decisions. But thanks to them it's much harder for us now.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments from the senior citizens, the very reason is due to the fact that the elders disregarded the debt and didn't pay back the government. This makes the government suffered a great loss, they were left with the only option to deduct the money from the payments of the seniors. It's not really a good or bad thing, the point being if they feel like if they are, for sure, cannot pay back for what they have borrowed, then rethink the decision twice before taking out the loans. What would end up happening is we would see elderly people work the jobs that were "supposed" to be our teenagers' jobs. This event makes our generation cut loose on our ends with the student loans, since it would be harder and more expensive for our education purposes during this time, compared to before.
ReplyDeleteThe Department of Education is deducting student loans from seniors' social security checks because the majority of them took out student loans and didn't repay the banks when they were finished with college. However, the loans have caught up with them and they now have to pay what the owe plus interest and inflation. This leaves them paying back thousands of dollars more than they even borrowed initially. This is a good thing for upcoming U.S citizens and the government but a bad thing for the seniors. Unpaid student debt is approaching 1.3 trillion dollars, if the seniors repay their loans and decrease the debt substantially it may result in a positive change in the economy. I coming years, U.S workers may be able to see a larger increase in their pays, they economy would be able to flourish, and the Education Department would no longer have to keep borrowers in the dark on repayment options. Also, upcoming college students may be able to borrow money at a lower interest rate. On the other hand, many seniors are reduced to a life of poverty with the money being taken out of their social security checks. It is also not fair to the seniors that actually repaid their debts, they are now getting less money because of those who cheated the banks. The seniors that didn't repay their debts will suffer for their actions, but they shouldn't be exempt from paying just because they are old. They were dishonest and irresponsible for not repaying their loans and their burdens should't be put on the younger generation. Business is business and a crook is a crook.
ReplyDeleteThe main reason why the Department of Education is deducting loan payments from social security payments is because the elderly have left their student loans aside and haven't payed them off as supposed to. This is primarily because their debts are awfully high. As interviews have been made, and they have declared that some have literally cut back on their expenses, because of their debts. That is their only solution into paying off their student loans. This issue is obviously bad,because it is a non-terminating problem, as days go by, the debt for student loans will only increase. Senior citizen benefits will decrease, primarily social security checks. An average of about 40 million American have student loan debts. College tuition will continue to increase, and students will be paying an immensely high debt for their loans. This is the reason why many seniors today are in poverty,because they have to go bankrupt just to pay off their debt. This will affect me greatly because of the fact that college tuition is very expensive. Many students are trying to avoid loans because they are aware of the hassle they'll get into. Student loans will basically stick with you for the rest of your life. We see it with seniors now, and the rate will keep on increasing each day. Considering the fact that I want to pursue in the medical field, my student loans would be very expensive. It's something I wouldn't consider doing, and just like me, many students are changing their perspective about student loans.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because more than half, or 54 percent, of federal student loans held by borrowers at least 75 years old are in default, according to the federal watchdog. About 27 percent of loans held by borrowers aged 65 to 74 are in default. Among borrowers aged 50 to 64, 19 percent of their loans are in default. The Education Department generally defines a default as being at least 360 days past due.These people borrowed money and are unable to pay it back because they put it off paying the loan.People feel as though paying a loan is not high priority but it is because then there pays can be garnished if you do not pay.I feel as though bad thing because for older people they rely on fixed income and the social security checks.This affect dosnt affect the price of my student loans because I wouldn't want to get any after seeing the damage it has done to the elderly and if I were to get them I would keep up so I wouldn't be in the same situation.
ReplyDeleteThe Department of Education is deducting loan payments from social security payment in order to get their money lent out back. I don't think this is a good thing. The elderly are either retired already or are soon to be retired and are relying on that money to be able to survive without working. Many people will not hire the elderly to work for them, which means that they are being left in poverty. This can affect me in many ways. As time goes on, college is getting more and more expensive to attend. I know I will have to take out student loans. Which mean that I will have some sort of debt to the Department of Education. If the government does the same thing to our generation and takes the debt out of our social security, it will cause us all to live in poverty.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments due to the excessive amount of money missing, because of the now elderly never paying back their students loans. Although the elderly have worked hard for an easy retirement, they have forgotten about such loans and in a way expected them to disappear. However, they should have had a better plan to pay back their loans while also saving for their retirement. I believe that it is a good thing that the government is deducting loan payments from their social security payments because otherwise future generations (us) would be the ones paying for their students loans. Every person should be responsible for themselves and take action to figure out their finances. If the elderly are upset about this reduction of their social security payments then they should have worked harder to pay the student loans off in the first place. The government is just doing what they have to in order to save our economy. This affects me and the price of my student loans because not only are tuition fee's higher, but so are the interest rates. In a way, because of past generation it is harder and less likely that students will be able to receive secondary education.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because of the amount of money that is missing form elders that have yet to pay back their student loans. When taking out a student loan, many aren't able to repay it so the student loan follows them into retirement. It is a good thing for us that those in retirement pay their student loan debt off because then that leaves us to have to pay higher prices to make up for what they didn't pay back. It is a bad thing for the elders since they aren't working so the only way to get money from them is through their social security, but that is the money they have to live off of for the rest of their lives. So then, if they have no money to take care of themselves, the government would have to help them. It is recommended for those entering college to take out a student loan that is equal to or lower to the income you will make after you graduate to save us from digging ourselves a hole of debt that we wouldn't be able to fill. But with the increase in college tuition each year, parents are forced to take out a federal loan in order for their children to go to college. So basically for us who are going to be entering college soon, tuition is going to be super expensive, student loans are going to drive us up the walls, and the money we try to save for our retirement is going to practically be nothing and we are all going to be in poverty.
ReplyDeleteThe Department of Education is demanding and deducting loan payments from social security payments because those of the Baby Boomers never paid off their student loans fully. Taking out payments for their student loans can be good and bad at the same time. These payments can be good because they are paying off their debt to banks, but at the same time it is bad because these payments are forcing the elderly into poverty and/or reducing the amount of retirement money they would have recieved. The debts that the Baby Boomers had created for themselves is huge, and it is technically their fault for never ensuring that their loans were paid off. Because they never worried about it in the past, it hit them in the present.
ReplyDeleteThe debt that is occurring now will definately affect me and the price of my student loans. Today, tuition and interest of loans are increasing and this means that our student loans are going to be through the roof. It is crucial that students now make an effort to pay off their loans quickly, or else it will follow us into the future. This should be an example for us not to live by.
The Department of Education is taking student loan payments out of social security payments simply because seniors still haven't payed off their student loans yet. I honestly think that it sucks for them, but at the same time it's fair. If they have a debt, then they should try to pay off that debt. I just think that the government should have approached it differently and tried to collect the money in a different fashion. On the other hand it's not fair to the senior citizens who are becoming poor because of the government just randomly taking out the student loan money from their social security. This affects me because if I ever need student loans from the government and I can't afford to pay them back, it's going to haunt me for the rest of my life. I'm going to try to avoid student loans all together and take a different route. I don't want to be an old guy living in poverty just because I couldn't pay my student loans.
ReplyDeleteThe Department of Education is taking student loan payments out of social security payments because the older generation didn't pay off their student loan debt. It IS a bad thing for the generations before me, but then again they had the responsibility to pay it off and they didn't. Our country's seniors have neglected a debt that has hurt them in the long run. And though it is unfortunate for the retirees who have no source of income to pay off these debts, if it wasn't for this change, my generation would be paying it off for them. That is not my or the rest of my generations responsibility. I think this is a good thing because not only will this help the ever-growing student loans and college tuition, but it will teach and even scare my generation into paying off their debts so they don't have to worry about it co,ing out of their social security when they're retired.
ReplyDeleteThe department of education is deducting loan payments from social security payments because, more than half , or 54% , of federal student loans held by borrowers at least 75 years old are in default. about 27% of loans held by borrowers aged 50 to 64, 19% of their loans are in deafault. unpaid student loan debts approaches $1.3 trillion and it has to be paid back and someone has to pay it so who better than the people who owe the money? I believe that this is a good thing because the debts have to be paid off and this will be an eye opener and a lesson learned for the current college students taking out loans but have no idea how they will ever get paid off and for the many generations to come that are thinking about getting many student loans. i also feel as if it's bad too because some of the elderly dont have any other source of income coming in or anyone to help them so they look forward to their social security checks to handle and take care of everything they need, if the department of education is deducting that from them than that is basically leaving the poor elderly with nothing and it's sad because they're old and cant really fend for themselves like they use to. This affects not only me but my generation as well because when the time comes for us to take out student loans the intrerest will be much higher than it would have been before if the former generations had paid back their loans.
ReplyDeleteSince the older generation didn't pay off their student loans The Department of Education feels that if they take student loan payment out of social security payments they will get the money back. This of course is a terrible thing because our interest rates will go up. This mean our loans are going to be way more expensive to pay because we're not only paying off out loans but also from past generations. I feel like this is going to be a bad thing because our minimum wage right now doesn't even give us enough money to pay rent. It will be very difficult for us seniors to pay our student loans.
ReplyDeleteThe Department of Education is deducting money from social security payments due to the fact that a lot of elderly took out loans many many years ago so that they could attend college but they refused to fully pay back the loans and now the department of education is taking a stance to get back the money they owe. There are two sides of this, its both good and bad. Its bad for the older generation that still owes money because most these people have retired already and need their social security payments to buy food, pay rent and bills and more and now that they are getting less than the amount they are suppose to be getting it may make these retirees lose their houses and have to move into their kids houses but they should have thought about the consequences that will happen when they decided not to pay off their debt. Its good because now we(my generation and maybe even future generations) wont have to pay off the elders debts. To attend college is already expensive and we don't need to be paying even more money than we already have to. It affects me because interest rates are going up due to the older generations not paying off what they borrowed.
ReplyDeleteThe Department of Eduation is takingout oan money from social security bcause elderly people who no longer work didn't pay off their student loan debts before retirment and so now the government is taking back their oney through social security payments. In some way sit is double edged sword. This means that its kind of a good thing and bad thing. Its good bexause the later genereation of these elderly people will learn from their mistakes (hopefully) and not do the same thing as their mother or grandmother. It bad because the elderypeople whos money is beingtaken away have to either move in eith their kids or live in poverty. Also, if the elderly person dies then the debt will fall on the children and thats not fair because they are taking responsibility for domething that wasn't their fault. Along with some elderly people with get jobs at supermarkets where tenns like me will loks for employent and not get it because the elderly poeple need it more than us because they have studen loans they need to pay from way back when.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments to repay debt to delinquent federal student loans. Social security is income paid by the government and these funds are diverted to pay off defaulted government student loans. I would say that this is a bad thing for older people because it reduces their already fixed income and they should be given ample notice before they retire that these funds will be deducted. This affects my generation and the price of my student loans because that means the price will increase because older generations aren't paying off their student loans. This could also be a good thing for my generation because this could be a lesson that we all take note from: PAY OFF YOUR LOANS. Also, if the government collects money on unpaid debt, money is available for future students to borrow.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because they need to find a way to account for the money borrowed decades ago by people wanting to attend college, who are now elderly and have yet to return the significant loans. This can be good or depending on where you are in life. Elders really need the social security, especially since they are no longer capable of working but are still in dire need of money for rent and other necessities. The prices of things are not decreasing based on what they can afford so if they are receiving less money then they will just have to do with less which can result in sacrificing basic things.. This is good for future students because rather than past generations' loans building on top of ours and becoming our responsibility, even though that may end up happening, this is decreasing the amount we may need to one day account for. This is possibly affecting everyone but especially students like me going to college because it will be harder for us to pay off our student loans.
ReplyDeleteThe Department of Education is deducting student loan payments because some elderly people who took out student loans never paid them back.Considering that they still owe the government money, the government doesn’t want to give them as much social security money. I think this is kind of a good thing. they should pay off what they borrowed. When the money isn't paid back to the government and the person that owes it passes away without paying it back their debt is carried on to a family member. Because of their inability to pay it back it affects the younger people such as making our student loans more expensive.
ReplyDeletePeople with student loans are not paying their debt, but just because they ignore it, doesn't mean it disappears. So since the education department needs to get the money to give even more loans, they take it from the people's social security when they retire. I don't think it's a good thing because those people have to spend less on what matters so they can pay off their student loans. Of course, it's not wise to retire when you still have debt, but if your body can't take it, what can you do right? This isn't good for this generation, interest rates will have to go up because the department wants to avoid bankruptcy. So with increased rates, it will be harder for us to pay off our debts.
ReplyDeleteStudent loans are very simple but people make them seem so hard. When you borrow money from people you have no choice but to pay them back and if you decide you are to good to pay them back for whatever reason they will find alternatives to ruin your life until you do. College is full of ignorant people and the government takes advantage of that. Every one of those 33,000 Americans figured " it's free money so we might as well use it" and now that they are old and still paying debt off from more then five decades ago they wish they hadn't been so ignorant. This of course will make student loans much more expensive because not many are paying them back ion full and the students of the next generation will take the fall. I hope our generation can pay our student loans back because if we do not we are going to make it harder for our kids to get student loans. As mentioned before student loans are not difficult at all, all you have to do is take out what you NEED and make sure you are not going overboard so you are not paying off loans from decades ago.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because many senior citizens never paid back their student loans they took out to go to college. This is a bad thing because it is causing a lot of senior citizens to go into poverty and become dependent. It affects now a day student's by driving up their interest on student loans they take out, causing more debt, which is another bad thing.
ReplyDeleteThe department of Educations is deducting student loan payments form social security because they were never paid back. The baby boomers who are now in or are going into retirement never paid back their student loans. It was a loan and loans must be paid back. It is their responsibility to repay loans. Even thought it was for their education, it was never for their money to begin with. The government has the right to take back what is theirs. I believe what the government is a good thing. They are now taking back the money that the baby boomers haven't paid back. unfortunately it is not looking so good for seniors who have or are going into retirement because now they are living in poverty conditions. Of course it karma for not doing the right thing. If they had paid back their loans they wouldn't be going through this current event. There's no one to blame but themselves for being irresponsible. Though luck for me too, due to the mistake of the baby boomers, my student loans will be more expensive then ever before. Its worst for kids with parents who haven't paid their student loans because if the parents were to die the debt would continue onto the kid(s).
ReplyDeleteThe Department of education is deducting loan payments from social security payments because it is their money that students failed to payback. Therefore, in result, they take back the government loans through social security. This would be bad for the eldery who are now retired and depend on social security to live. According to the huffingtin post article, the elderly are forced into poverty due to this. This affects me because this will increase interest on my students loans which will force me to pay it sooner and can also decrease the amount of money i can be approved for in loans.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because elderly people weren't able to pay off their student loans. The government went for their social security payments, since they weren't getting their money one way they went another way, leaving the ederlys to suffer. This is a bad thing because many Americans aren't making enough to pay their loans. They have so much other bills they have to pay in order to survive. These ederly end up in the streets because that money they thought they were going to get after they retire wasn't what they received. This will affect me because if I get a student loan than it will be way more expensive, making it harder to pay it off.
ReplyDeleteThe Department of Education are done playing the waiting game with a lot of senior citizens hoping they will pay back what they owe to them. Many have gotten away with never paying back their loans. They decided instead on just taking out what is rightfully owed to them through social security since seniors tend not. There is two sides to the coin in this case, but I have to view this new policy as a bad thing. College is getting way to expensive to pay for. The video in the link above there is a story of a mom who started saving 3 years before! her children were born a she is now currently contributing money 20 times! Above the rate of inflation. Those numbers are beyond stupid to ask a young adult to pay(most middle class family couldn't pay that without taking a hit). Loans were they only way to get to college but now that you're taking such a huge chunk of their socials they now have to depend on their children to help them financially putting twice the amount of strees on the parents to keep not only them alfoat but their children; parents. At this rate my generations school rates will go up and they won't be as nice with their money as they were with the baby boomers. 2 maybe 3 generations from now college will be a joke to most people that only the really rich can go.
ReplyDelete-Raymond Tilus
Money is being taken out of social security because student loans have not been paid! Nobody has the money to fund schooling anymore so people thought the way around it was to take out money and not pay it back. It is ridiculous how expensive schooling is, but it was a choice to continue past high school and needs to be paid. It is really unfortunate for people who genuinely want to study, but cannot afford it. Its not just the poor getting loans though, its the rich as well. It's a mess of a situation that i cannot think of a fix for. Money is needed to run a school, but students cannot afford to compensate for teacher salary, campus improvements, technology, and countless other things. I will say however; much is spent on unneeded learning "tools". This is even before college level. CSHS has many laptops, computers, TV's, projectors, and things things of that sort. IT IS NOT NECESSARY. The best way for students to learn is for teachers to present structured lesson plans. I really enjoy lectures. I wish I could say we use the technology provided, but I do not think it is true. I am saying we have thousand dollar computers times 40 in the media center that are hardly used. I can barely access the media center during school! We need a pass I guess I just do not get it. Let us into the library during lunch to do work. If we are going to spend so much money on computers, we might as well have a period dedicated to using them. In the long run, my generation and those to come would benefit by having the seniors pay off their student loans. College is already overpriced, if it gets worse we will have even more people choosing not to go. It just does not seem worth it anymore.
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DeleteThe Department of Education is deducting loan payments from social security payments because many elderly people were irresponsible when it came to paying loans back when they were in college. When taking out a student loan, many aren't able to pay it back therefore, student loan follows them once they get to retirement. This is a good thing based on where one is in their life; elderly people need it because they can no longer pay for typical necessities because they are no longer getting a monthly income. The cost of items aren't lessening due to what people can and cannot afford, if they are getting less money the people will need to do less which will end up forcing them to sacrifice normal stuff. Yet it is a good thing for us students in the future because instead of past generations' loans building up on top of ours and then it will become our issue, and if that happens it will decreasing the price students my have to be held for. This problem could not only effect everyone but it will mostly effect students in the future who have to pay off their loans that they take out.
ReplyDelete-CARLIE LIBRIZZI
Anley Friden.
ReplyDeleteperiod 2.
The department of education is deducting loan payments from social security payments towards senior citizens because many of them have not fully paid off their student loans. This is a bad thing because it causes senior citizens to become dependent on others for care and support. This causes the interest on student loans to increase on already overpriced education, thus causing students to not have a motivation to go to college because they cannot afford it.
Part of the reason why the Education Department is deducting student loan payments from social security payments is because of federal law. Existing rules governing Social Security garnishment specify that the federal government cannot seize more than 15 percent of monthly benefits or take anything that would leave Americans with checks of less than $750. Although older Americans that have reached the retirement age require less money to live, they still need to be able to afford at least the basics. With the little money they do receive, they'll end up paying their debts, but struggling to live half decent. This is horrible considering the fact that they worked all those years to acquire their SS & they can't even live comfortably in their last few years of life. I'm no where near retirement & to know that seniors today are struggling as bad as they are worries me. It causes me to think of how crappy my future may be knowing I can't enjoy old age. My goal is actually to not even acquire student loans but in the event that I do, I'm a bit more than worried.
ReplyDeleteThe Department of Education is taking money from student loans out of the social security of elderly people who haven't yet paid the money back. A majority of these people probably had no intention of ever paying these loans back & now many are being forced into poverty due to their lack of responsibility. It is both a good & a bad thing because one, thousands of people are going to become impoverished but it also teaches the current generation of students & future generations of the importance of paying back loans. Interest rates will be going up due to this lack of paying off old student loans, therefore I will pay more for my student loans but at least I will understand the importance of paying off any debts that I may have.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments for the simple reason of the senior citizens not paying off their student loan debt. In the eyes of the government they are long pass due in paying back the money they used for themselves. This is both a good and bad thing. It is good in that they are rightfully returning the money they borrowed. However, this is also a bad thing due to the significant increase in the number of people now in poverty and because of the lowering of benefits elders receive from their social security. This affects me and the price of my student loans by increasing the interest rate and the actual amount having to be payed to receive a loan. Elders also become desperate for money and in search of some they go out and get shops that would normally be worked by adolescents like myself.
ReplyDeletego out and get jobs*
DeleteThe Department of Education is deducting student loan payments because some elderly people who took out student loans never paid them back. These people took out student loans so that they could attend college, but they disregarded the fact that that money needed to be paid back to the government. It is affecting our generation by raising Interest rates by the time we attend college. Now as we are actually learning and listening how to manage our money in order to retire without money being deducted from our social security, our loans and tuition are going to be so high.The government is just doing what they have to in order to save our economy. This affects me and the price of my student loans because not only are tuition fee's higher, but so are the interest rates.
ReplyDeleteMary Gaussaint
The Department of Education is taking student loan payments because some elderly people who took out student loans never paid them back. The government has all this missing money which they did not get back from those people, which is taking away from the younger generation.The Department of Education lost a lot of money because of those who never paid them back,which has caused them to suffer. They need this money back; so, they decided that the only option is to take that money from the social security checks that the elderly get. This was their only option because those elderly people do not work anymore, which basically means that they are not getting any income. I don't really know whether this is good or bad because some of these people don't even know that their social security money is being taken away. I do know that those people borrowed money, and they had a responsibility to pay it back. This affects me because when I go to college should I need student loans, the interest on my loans will be much higher than it was back then. I will have to pay more than the loans I borrow because the interest will build up, and it will cost me much more than what I initially borrowed.
ReplyDeleteThe Department of Education is deducting student loans from senior citizens social security because out national student loan debt is reaching over 1.2 trillion that exceeds the national spending debt limit. This could be either a bad thing since it can cause Americans living on social security (which is the majority) to live in poverty. But the fact that our debt is slowly being worked off is definitely a positive thing for our economy. This affects my generation by potentially lowering our student loan rates. If it is decided that Seniors should not pay off their debt that could mean for us that we would eventually have to end up paying it back either with taxes or higher student loans.
ReplyDeleteThe department of education is deducting loan payments of elders social security checks. This is causing elders to be getting less then the U.S. poverty standard. For elders this is terrible because they have no job to make money and survive on that, they rely on their social security checks to help maintain their well being. For us as college bound student this is a bad thing because our admission will end up causing us to have a life time full of debt. This affects our student loans because it will increase and the interest on our student loans will make it incredibly difficult to pay them back.
ReplyDeleteSocial Security payments are being deducted to pay off older citizens students loans. The department of education is done waiting for their money that money belongs to the government so, they should have the right to deduct payments out of the older generation social security. The country is facing a debt crisis right now and they need their money now. It is bad for the boomer generation to have their payments deducted, but it is their own fault. They borrowed money from the government and they are expected to pay it off. Some of these people don’t have a lot of time left on this planet and their social security is not going to pay off all of their debt, so it up to my generation to pay for their irresponsibility. If I want to take out a student loan, I have to pay higher interest rates because the older generation couldn’t pay off theirs. It is good that at least some of the debt is being paid off so the next generation doesn’t have to suffer as much.
ReplyDeleteThe department of education is deducting student loans from social security payments because elders who borrowed money to go to school never payed back their loans. I would say this is neither a good or bad thing... When you borrow money from someone you are obligated to pay them back you don't get to just skate by in life, you have to be responsible for your actions, which in this case is borrowing money. Because of the student loans never paid back, interest on student loans now is a lot more expensive, so student now are paying for the damage that others have caused.
ReplyDeleteThe Department of Education is deducting student loan payments from social security payments because the elderly who borrowed these loans years ago still have not paid them back. The elderly people took out a significant sum of money from the department of education, but clearly had no intention of paying it back because the debt is still owed. In some cases, some of these elders aren't even working anymore so the government has no choice but to take it from their social security. If the government did not take some further action such as this to get their money back, then it would only backfire on my generation who will have to pay even higher interest rates because the elderly lacked the responsibility to set a fixed payment rate at which to pay back their student loans. This is a bad thing for elderly because their money is being subtracted but it's their own fault and they really can't blame anyone else. If you owe someone, naturally, the goal is to pay them back. The government is merely taking back what is theirs. This is a good thing for me and students in this generation because interest rates will be lower and more affordable instead of suffering for our grandparents mistakes.
ReplyDeleteThe Department of Education is deducting student loan payments from social security payments because they were not able to pay off their student loans and the department doesn't want to have to keep waiting for loans that should have already been paid off. This is a good and bad thing, but either way, It's needed to be done if no one decides to pay back their student loans. This affects me because it causes the interest rates of student loans to increase, which would make it harder to pay off my debts.
ReplyDeleteThe Department of Education deducting loan payments from social security payments because the generation that took out the student loans many of them did not pay them back. The Federal Government needs that money back for paying newer student loans and other government needs. This is a bad thing, the generation that took the loans many of them are living off of the social security checks that they get each month. With the government taking that money out of the checks the people have less money to live on and they are creating a older generation of poverty. This affect me and the price of my student loans because the price of education is going up and that requires more student loans at higher interest rates that are going to be harder to pay back.
ReplyDeleteWhen the people of the Baby Boomer generation were going to college, they took out student loans to help pay for their education. Unfortunately for them, they didn't pay the government back the borrowed money. Now, because of their horrendously late payments back to the gov't, the Department of Education is going into their social security, and deducting their student loan payments. Our grandparents are literally paying the price for irresponsibility. Is this a good or bad thing? It depends on which side you're standing on. If you're the debtor who's money is being taken from you, then it is clearly a bad thing. As the article says, these elderly people are being forced into poverty from these monthly deductions. BUT, the government can't just let it go. If money is borrowed, it has to be returned. The U.S. is already in enough debt as it is. As for me, I know now to budget and plan, if I do take out a loan, for when, and how to pay it back. The price of student loans will definitely rise because of higher interest rates, so people will probably end up paying back their loans until they die. Unless, they become billionaires.
ReplyDeleteThe Department of Education is deducting student loan payments from social security checks because the elderly who borrowed these loans years ago still have not paid them back. The government needs this money, so they decided that the only option is to take that money from the social security checks that the elderly get. It is both a good & a bad thing because 1) thousands of people are going to become impoverished but 2) it also teaches the current generation of students & future generations, the importance of paying back loans. This is bad for my generation because it will affect the interest rate for me when I plan to take out a loan for college. As well if the seniors tried to get a job to make the money they owe, it would mean kids my age do not receive that job.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the elderly people who took out the student loans and never paid it back. Since they owe the government money from that loan, the government does not want to give them social security money as they need. Its always best to pay back someone when you borrow money because within a split of a second they can bring all your life savings down and ruin your life till they have their money right back into their hands. For example; The Department of Education lost multitudes of dollars because of people whom never paid them back the money they owed a while back, this caused a huge suffer within the government and people. To me, this can be either good or bad because some of the elderlies do not know that their social security is being taken away because of what they owe. They can be sick and are in need for money from the government, but the government wouldn't give them anything. This situation affects me because by the price of my student loans, my interest rate will go up and I would have too pay more than I borrowed and I don't want to suffer like the other generation did.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because some people who are collecting their social security have debt owed to the Department of Education. If the elderly person did not pay back their loans, then the Department should be allowed to take some of the money back. This affects me and my student loan price because, the banks might try to compensate for the money they lost and raise the interest rate. If they start to take money from social security checks it may help to keep the rates the same.
ReplyDeleteThe Department of Education is deducting student loans from social security benefits because the generation that is going into retirement, the Baby Booming generation, did not pay off their student loans. The department of Education is therefore taking the money that they owe them from their social security checks. They are permitted to do this under a law which states that the Federal Government cannot seize more than 15% of monthly benefits, or take anything that would leave Americans with checks that are less than $750. This is a bad thing because the lack of an adjustment to this law due to inflation is placing Americans into poverty. This law was passed in the late 1990's. At this time the poverty level was below an income of $750 a month. However, due to inflation, this monthly income is now below the poverty line. The article states that if this law was adjusted according to inflation, the present minimum amount that the Federal Government could leave Americans with after seizing their social security benefits would be $1,073. I would think that the Department of Education deducting loan payments from social security benefits would affect me and the cost of my loans in a great way. This will most likely result in my student loans costing me more money, as the Department of Education has been faced with numerous individuals who have not paid for their student loans, and will place the payment of their debt on me, (us).
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the elderly took out students loans and they couldn't pay them back. They are therefor taking the money that the elderly owe out of their social security checks. This is bad because doing this we are causing inflation and putting Americans into poverty. The result of this would be an increase price in student loans for my generation. Also I would end up paying off their debt since they were unable to pay it themselves, which would be a disadvantage.
ReplyDeleteThe department of Education deducts loan payments from social security payments because the elderly Americans have long been in default of their student loans, and since borrowers could nlot discharge their federal student loans while they were still in college, their student debts followed them into retirement. This is terrible because the Education Department will only further the possibility of more debt collection through means of Social Security benefits (which do not seem beneficial anymore). It sis just as the GAO stated, "As the baby boomers continue into retirement, the number of older Americans with defaulted loans will only continue to increase... their benefits are offset and they face the possibility of a less secure retirement." Not only does student loan debt keep rising, it also leaves Americans with less money for their retirement and the presence of it for individuals reaching retirement may keep individuals from saving for retirement.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the elderly who are currently in retirement did not pay off their student loan payments and the only way for the Department of Education to receive money owed to them, would be by deducting payments from social security payments that was tended to be used for the retirement fund for the elderly. Whether or not this action taken is good or bad entirely depends upon the individual because now since the social payments are being cut due to debt in student loans, the elderly may have to go back home and live with their sons and daughters, if they have any. The money intended to be used for retirement is now being used to pay back their student loans which may lead poverty for our seniors. Now if the individual enjoys the benefit of having their senior back in their household because now there's someone to watch and take care of the kids for free then good for them. However, for some individuals, this means one more mouth to feed, one more person to keep healthy, and therefore an increase in billing and payments for an individual who doesn't work and receives no income. Now that I know the government will expect me to pay off my student loans, even in retirement, I may have to cut spending from now till retirement and budget properly so that I can pay off my student loans, Student loans is only going to increase because tuition for college increases, so hopefully by retirement I'm able to pay off these loans if otherwise I may not even have a retirement fund available because Department of Education decides to cut payments on social security in order to repay whatever money is left.
ReplyDeleteThe Department of Education is now deducting loan payments from Social Security Payments because these older people completely disregarded the fact that this was not their money to begin with. If they still haven't paid it back, then I don't think they had any intention of paying it back at all.
ReplyDeleteThe question isn't whether this is good or bad, because obviously it's bad for the people losing money, and good for the people gaining it. However, the question of right or wrong still exists. I think that it is the Department of Education's right to take what is owed to them.
I think that this will surely raise interest rates on student loans, and with college being so expensive already, there is a possibility of this same situation happening to our generation.
Diana Persaud
ReplyDeletePeriod 3
Due to the fact that paychecks are as little as they are, people disregard the expenses of student loans because they have other daily expenses to take care of. Since student loans aren't being taken care of, the Department of Education has resorted to deducting money from social security payments because they still need their money. Racking up to nearly $1.3 billion in student loan debt, the Department of Education has no other choice but to find money to pay off their expenses as well.
This is not necessarily a good thing at all. Senior citizens are basically retired at the age that they disregard student loans because their knowledge of the subjects is no longer needed. If they aren't working anymore, there really isn't any use for their education other than to help young ones or if some huge world-crisis comes up. Senior citizens honestly should not have to pay off student loans past a certain age because they have a lot of expenses on their hands with medication and special treatments etc. A lot of children don't even want to bother with their parents when they hit a certain age so the senior citizens end up in nursing homes as well with a ton more of expenses. They're all going to die soon so why should the Department of Education make them suffer during the last part of their lives?
This will definitely affect the price of my future student loans by causing them to raise in price. If people nowadays aren't paying off their loans and the Department of Education's debt steadily increases, my student loans will do so as well. I won't necessarily become the doctor I plan on being so there is no possible way I can pay off student loans without a job that has a hefty pay.
The Department of Education is deducting loan payments from social security, because the senior citizen who were unable to pay off the student loan debt, and the government is taking action. I think this is a good thing, because if they don't take care of it now, the debt will be pushed off onto their children after death,and that's unfair because the child didn't make the loan. That's basically pushing your responsibilities off onto someone else. Furthermore, this affects me and the price of my student loans, because it will increase and be much harder to pay off down the road. Or they would make us pay off their elders debt through taxes or whatnot. We shouldn't have to pay for those who didn't take the responsibility to take care of what they did on their own, but instead let someone else take the debt.
ReplyDeletethe government is deducting loan payments because of all the money owe by the people that didnt pay their student's loans when they were in college, the government doesnt want to lose any money, so by deducting the loan payments from our social security they are paying themselves back all the money they gave away in the past.
ReplyDeleteit is a really bad thing for me, not for the people that didnt pay their students loans, it is raising my payments not because of inflation or because they want to make more money but because they are getting money out of our pockets to pay what the students from the past owe them.
The department of education deducted loan payments from social security because the elderly were not able to pay off their student debts. Since the elderly owed the government so much money, they didn’t want to give them as much social security money. I personally think this is a neutral thing because they can’t just live life without paying back all the money they burrowed, the bad thing is they don’t have any money at all to live by themselves so they would have to go back into their kids home and live with them. Now there kids would have to pay for everything. It Affects us because some of the elderly people have to get jobs again like being a bagger, or even a cashier. Those are jobs being taken away from teenagers. Another affect is that interest rates go up, so if you want to go to college and take out a student loan the interest is going to be higher.
ReplyDeleteThe Department of Education is deducting loan payments from social security payments because the seniors of American haven't paid off their student debt.
ReplyDeleteThe student debt is now at $1.3 trillion; that's not a good thing for America. If seniors try to declare bankruptcy to avoid paying their student debt, they're wrong. The student debt will follow the seniors into retirement, resulting in the seniors to have a less than satisfied retirement; that's not good for the seniors.
How it affects us is we get less money for tuition but increased interests, and we will have to suffer the debt.
The Department of Education are deducting loan payments because some senior citizens never paid back their student debt. Many seniors ave defaulted loans so it takes them a while to pay back the money. Its affecting our student loans because we will get increased interests and suffer paying the debt back. For the seniors it follows them into retirement too, so it doesn't go way that fast. Seniors will also get less money for their retirement.
ReplyDeleteThe Dept. of Education is are deducting loan payments because alot of senior citizens have never paid off thier debts. This is a bit bad because its affecting our student loans because we are going to have increased interest and have to pay back for them.
ReplyDelete