Coming Soon: PAY from the GRAVE!
You drag yourself to work each day to pay back monstrous student debts.
Can it get any worse?
Apparently, it can.
Yesterday, the Supreme Court unanimously ruled that the government can seize up to 15% of a retiree's monthly Social Security benefit to pay off old student loans.
This is another blow to baby boomers on the heels of Greenspan's calls that they forego health and pension benefits [and eat Hostess cupcakes instead!]
"The court [ruled] in the case of James Lockhart, who attended four institutions of higher education between 1984 and 1989 and took out nine federally guaranteed loans. By 2002, he was disabled from diabetes and heart disease,[!!!] and had $80,000 in unpaid student loans."
"[Disabled,] Lockhart received a Social Security benefit, but the government withheld $93 per month to repay his student loans . . . when he reached retirement age . . . the government . . . began withholding $143 per month."
"People are very offended that people take student loans and don't pay them back," said Sandy Baum, a professor of economics at Skidmore College.
GHEE, that's odd; they don't mind being ravaged at the monetary helm by for-profit moneylenders.
And you still think we're free?