Anothr casualty o/t law schl scam: Your parents' retirement Forum

[MTal]

Student Loan Crisis Busts Retirement Accounts

http://www.cnbc.com/id/46386779

Summary: Lenders have figured out that they will never be able to collect from unemployed grads with no skills (soon to be many on this site) and have therefore gone after the co-signers. Little did the cosigners realize that even their retirement/pensions were at stake when they agreed to sign on the dotted line. Welcome to the new economy.

[ggibelli]

is it really new news to you that lenders will go after a co-signer on a loan?

[MTal]

is it really new news to you that lenders will go after a co-signer on a loan?

No. The news is the frequency and the amount of the depletions.

[T00L]

MTal,

You are probably single-handedly responsible for the 16.7% drop in test takers this year. I think you have it in you to break 20%...

Keep up the good work!

T

[ben4847]

Did someone cosign my student loans? I don't remember that.

[sunynp]

It isn't just co-signing, it includes parents having to take out parent plus loans to cover costs for their kids. Parents don't have access to funds they were relying on to pay for school tuition. They have lost home equity and their stock portfolios have been hit hard.

[Tiago Splitter]

Using a retirement account as collateral for a loan is a prohibited transaction. The article doesn't say that lenders are actually going after retirement accounts, because they can't. Some parents are using retirement funds to keep the loans current, and others are simply not saving as much for retirement in order to service the debt.

[Jaeger]

Using a retirement account as collateral for a loan is a prohibited transaction. The article doesn't say that lenders are actually going after retirement accounts, because they can't. Some parents are using retirement funds to keep the loans current, and others are simply not saving as much for retirement in order to service the debt.

This.

[NomNom]

Using a retirement account as collateral for a loan is a prohibited transaction. The article doesn't say that lenders are actually going after retirement accounts, because they can't. Some parents are using retirement funds to keep the loans current, and others are simply not saving as much for retirement in order to service the debt.

[d.schoenfeld16]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

[fatduck]

Using a retirement account as collateral for a loan is a prohibited transaction. The article doesn't say that lenders are actually going after retirement accounts, because they can't. Some parents are using retirement funds to keep the loans current, and others are simply not saving as much for retirement in order to service the debt.

this article is also about Parent PLUS loans, which you can't get for grad school. MTal isn't even trying any more.

[NomNom]

this article is also about Parent PLUS loans, which you can't get for grad school. MTal isn't even trying any more.

[SilverE2]

Unless you go private, law school loans aren't cosigned...

[MTal]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

I work in the financial services industry, series 7/63 licensed broker. I have a very nice salary on top of huge commissions which typically form anywhere from 33-50 % of my total salary.

[spleenworship]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

I work in the financial services industry, series 7/63 licensed broker. I have a very nice salary on top of huge commissions which typically form anywhere from 33-50 % of my total salary.

And yet, despite having shitloads of cash and being able to afford vacations, video games, hookers, blow, etc... You continue to post in here, where you don't really have an interest, for funsies...

[in2win]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

I work in the financial services industry, series 7/63 licensed broker. I have a very nice salary on top of huge commissions which typically form anywhere from 33-50 % of my total salary.

how do you have time to post on TLS on a weekday in the afternoon then?

[MTal]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

I work in the financial services industry, series 7/63 licensed broker. I have a very nice salary on top of huge commissions which typically form anywhere from 33-50 % of my total salary.

And yet, despite having shitloads of cash and being able to afford vacations, video games, hookers, blow, etc... You continue to post in here, where you don't really have an interest, for funsies...

I do post here occasionally when I have some free time at work, or otherwise. As my 1.62 posts per day here, I definitely keep it to a minimum.

[spleenworship]

My theory is that MTal does not have the requisite people skills required to land a job, so he is trying to blame society for his glaring deficiencies.

I work in the financial services industry, series 7/63 licensed broker. I have a very nice salary on top of huge commissions which typically form anywhere from 33-50 % of my total salary.

And yet, despite having shitloads of cash and being able to afford vacations, video games, hookers, blow, etc... You continue to post in here, where you don't really have an interest, for funsies...

I do post here occasionally when I have some free time at work, or otherwise. As my 1.62 posts per day here, I definitely keep it to a minimum.

Arguendo let us say you have the job... Still doesn't explain why you bother to post here...

[T00L]

As long as you keep on discouraging future applicants I'm good.