In Obama’s War on Seniors: some losing part of their SS check to repay defaulted student loans

By Derrick Hollenbeck, staff writer

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.

A New Jersey attorney reports that he has represented six clients in the 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.   

Most seniors in this trap are embarrassed to speak about their predicament, but one Boston attorney tells of working with an 83 year old veteran who co-signed to cover the tuition of his son in the 1990s only to find that because both of them have fallen behind on the required payments he is now obligated to make payments on the loan.  HE is now seeing the federal government forcibly taking some of his monthly Social Security check.       

Paying what we owe is an important feature of the American character and certainly it is a cherished part of the personal sense of being for older Americans. Barack Obama’s failures are driving more and more seniors to buy their dignity back each month at a high price. This is Barack Obama’s War on Seniors.   

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To reach your Congressional representative, use this link:

http://www.contactingthecongress.org/

To read more use this link:

http://www.smartmoney.com/borrow/student-loans/grandmas-new-financial-problem-college-debt-1344292084111/#printMode

 This day in history August 24

1936: Democrat Franklin Roosevelt gives the FBI authority to pursue Communists. They didn’t have to look far as Roosevelt’s administration was full of Communists. Read about Roosevelt’s numerous Communists in get your copy of Coach’s new book Crooks Thugs and bigots: the lost hidden and changed history of the Democratic Party available at: http://crooksthugsandbigots.com 

 In this world you may have knowledge or you may have repose, but you may not have both. 

What have you done today to deserve to live in America? If you want suggestions of what to do to fight for our freedom see the “What each of us can do to defeat Obama” page at the top of the CiR homepage. 

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3 thoughts on “In Obama’s War on Seniors: some losing part of their SS check to repay defaulted student loans”

  1. This is not a war on seniors, this is holding people responsible for their failed loans.
    Can’t afford to pay back the loan, don’t get one.
    Can’t afford to pay back a loan you co-sign for, don’t co-sign.
    To bad these seniors didn’t train their children who in turn trained their children to be responsible instead of dead beats.

  2. Usually agree with the Coach and almost always disagree with Obama. But like Cindy, I don’t have a problem on this one. A very long time ago after I got out of the Military I got a Govmt loan. Was dirt poor for a long time after I got out of school. But I paid SOMETHING every month and paid it off long before the final payment was due. Make no mistake… just a whole lot of folks have abused these loans.

  3. My opinion on this matter is:

    1). NEVER co-sign for a loan
    no matter who the other person is.

    2). Never take a loan out that
    involves the government.

    God’s Word cautions against
    co-signing for someone.

    As i’ve said, this is just my opinion.

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