Busted for student loan debt? Apparently it can happen

posted at 2:41 pm on February 16, 2016 by Jazz Shaw

So, how many of you have some student loans lurking in the back of your credit closet that you just haven’t gotten round to paying off? If you do you’re clearly not alone, since according to one study from Forbes last year the rate of federal student loans in default varies anywhere from roughly 11 to 15% from year to year. We’re talking about many millions of people. But what’s the worst that can happen if you just keep putting it off? Well, if you happen to live in Houston you may wind up with the US Marshals beating on your door and hauling you off for questioning.

Believe it or not, the US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans.

Paul Aker says he was arrested at his home last week for a $1500 federal student loan he received in 1987.

He says seven deputy US Marshals showed up at his home with guns and took him to federal court where he had to sign a payment plan for the 29-year-old school loan.

Before continuing, here’s the brief video from Fox 26 in Houston providing the details.

So wait a minute… you can’t actually go to jail for not paying your loan, can you? According to Geeks on Finance, the answer is usually no, but there are exceptions. One of the most common of these is child support, where you can definitely wind up in jail after a while. Depending which state you live in, there are some other oddball scenarios as well. If a prosecutor really wants to invest the time, and they can prove that you took the loan with no intention of ever paying it back you could conceivably be prosecuted (and jailed) for some form of fraud, but that’s not the same as being locked up for the actual debt. If the Marshals bring you in and demand that you sign a contract agreeing to have your wages garnished, they might be able to jail you for a while if you refuse. But mostly they’ll just trash your credit rating to the point where you can’t even rent an apartment, say nothing of buy a home.

But the bottom line here is that a student loan is still a loan. You took it out and signed on the line agreeing to repay it. If the rates were too high or it was more debt than you could reasonably afford to take care of, isn’t that really on you and not the government? Not if you listen to the Democrats. There are already multiple ways to have your debt “forgiven” for you, and if they can manage a few more reforms there will be even more opportunities!

And for all of you old timers out there who actually paid off your loans because you felt like it was an obligation on your part, well… sucks to be you, I suppose.

StudenLoanBust


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Comments

Wow!

OmahaConservative on February 16, 2016 at 2:44 PM

Bishop

mechkiller_k on February 16, 2016 at 2:45 PM

Damm

mechkiller_k on February 16, 2016 at 2:45 PM

You can’t pay off $1500 for 29 years? That’s a little over $50 a year. Not in favor of arresting him, but come on.

rbj on February 16, 2016 at 2:46 PM

LOL. What a loser.

Pork-Chop on February 16, 2016 at 2:47 PM

This guy can’t manage to pay off a $1500 loan in 30 years?

Mark1971 on February 16, 2016 at 2:47 PM

Black Debt Matters

MoreLiberty on February 16, 2016 at 2:48 PM

Strange times. Seven marshals over $1500? How about just turning it over for collection and let them defend the non payment in court or get garnished? Arrest, to me, is entering into big brother land.

Limerick on February 16, 2016 at 2:50 PM

Comment section on life support.

It’s the final.. COUNTDOWN..

V-rod on February 16, 2016 at 2:51 PM

Good!

My tax dollars were used to give these mofos a college education for whatever it’s worth. Mine are paid off. Pay the loan back with the interest you cheapskate!

Bubba Redneck on February 16, 2016 at 2:51 PM

Lol!! Its called “the law”!!! Suck it up, cheap [email protected]@rd. How many flat screen tvs and xbox games do you own?????

Indiana Jim on February 16, 2016 at 2:51 PM

BS. The student loan game is rigged for everyone but the student. Universities employ thousands of worthless professors, supported by unnecessary administration (if you got rid of the worthless classes and universities), and people are forced to get often worthless degrees in worthless subjects to try to compete with little to no guarantee of a job while it is impossible to default on your student debt, but the banks will get paid, the universities get paid, the politicians get paid, and the students get screwed. It is a corrupt system and it is any self-respecting individual’s duty to fight it in any way he can.

truecon on February 16, 2016 at 2:52 PM

in other words, the only time anything is real is when consequences matter. that stopped a long time ago in this country, and it is only getting worse. but if a loan can be defaulted on, then banks only give them to good risks, and there are far fewer students and universities and degrees matter more and debt is not such an issue. and it does not cost a quarter of a million dollars to get an undergraduate degree (at some places).

truecon on February 16, 2016 at 2:53 PM

They haven’t kicked us out yet?

Alana on February 16, 2016 at 2:53 PM

Where are all the Facebook morons clamoring about his rights, black live matter, blah, blah, blah, blah, blah???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

Bubba Redneck on February 16, 2016 at 2:53 PM

Pay the dang debt!! Don’t be a deadbeat!!

nitro on February 16, 2016 at 2:56 PM

Hot Air Lives Matter too!

kingstonkoolos on February 16, 2016 at 2:59 PM

BS. The student loan game is rigged for everyone but the student. Universities employ thousands of worthless professors, supported by unnecessary administration (if you got rid of the worthless classes and universities), and people are forced to get often worthless degrees in worthless subjects to try to compete with little to no guarantee of a job while it is impossible to default on your student debt, but the banks will get paid, the universities get paid, the politicians get paid, and the students get screwed. It is a corrupt system and it is any self-respecting individual’s duty to fight it in any way he can.

truecon on February 16, 2016 at 2:52 PM

What in the hell does any of that have to do with the fact that this guy signed an agreement to pay back his loan? No one held a gun to his head and said “The student loan game is rigged but sign here anyway.”

RMCS_USN on February 16, 2016 at 2:59 PM

deploying those 7 cost more than they will get from him.

dmacleo on February 16, 2016 at 3:00 PM

Has Justine Sacco the Facebook comment structure landed yet?

KingGold on February 16, 2016 at 3:00 PM

What happened was that in the 1990s Sallie Mae (the #1 education lender in the US) lobbied the Clinton Administration to change the rules on student loans to lift the partial shield from collection action due to bankruptcy. The result was the Higher Education Act of 1997, which changed student debt from having some (mild) protection to being easiest type of debt to collect.

Collectors can assess huge penalties, with no bankruptcy protection and no refinancing allowed. Bank collectors can grab it from your wages, your home, your retirement, even your Social Security, for life.

In 2010, Obama nationalized the federal student aid loan program and took it away from the banks. Now these Tony Soprano loans are run directly by the federal government.

And then the Department of Education turned around and contracted out management of the federal student aid loan program to.. yep, Sallie Mae.

College loans are a bigger and more lucrative loan-shark racket than anything Tony Soprano could dream up.

Gideon7 on February 16, 2016 at 3:01 PM

LOL.

Well, somebody has to pay for my free college program.

-Bernie

antipc on February 16, 2016 at 3:02 PM

And for all of you old timers out there who actually paid off your loans because you felt like it was an obligation on your part, well… sucks to be you, I suppose.

Damn it… Paid mine off in 2007… Sucks to be me…

oscarwilde on February 16, 2016 at 3:02 PM

You can’t pay off $1500 for 29 years? That’s a little over $50 a year. Not in favor of arresting him, but come on.

rbj on February 16, 2016 at 2:46 PM

I was eyeing that as the biggest question of the story.

LoganSix on February 16, 2016 at 3:02 PM

You wanted nationalized student loans?

I give you nationalized student loans.

Wait until you see what happens when you don’t take your flu shot.

Skywise on February 16, 2016 at 3:03 PM

RMCS_USN on February 16, 2016 at 2:59 PM

i did not look at his specifics. i guess it is a personal choice. if you are the kind of person who believes in honor against cheating while you lose, then there is merit in that. i believe in an eye for an eye, and these schools and banks are getting rich on the backs of impressionable and desperate 18 year olds (and graduate students) and it is sick. I am on the student’s side, 100%. all debt should be private, meaning banks give it on merit, not social justice. free money is always wrong and deadly. it just sometimes takes awhile for the pain to be felt. and it is eventually felt by all. you think it only impacts the student, but you are wrong. very wrong.

truecon on February 16, 2016 at 3:03 PM

truecon on February 16, 2016

Yeah, right. //

I just finished college last April (second career). It made enough of a difference in income that I’ll have my student loan paid off in two years.

Students just have to use their brains in choosing a major.

lineholder on February 16, 2016 at 3:03 PM

I wonder what his degree was in. Whatever it was it didn’t prepare too well.

DanMan on February 16, 2016 at 3:04 PM

Yeah, right. //

I just finished college last April (second career). It made enough of a difference in income that I’ll have my student loan paid off in two years.

Students just have to use their brains in choosing a major.

lineholder on February 16, 2016 at 3:03 PM

because it always makes sense to use on example as evidence of the whole. you might want to go back to that college and take a logic class.*

(*i know, i know, you aced logic, you are a logic professor in your spare time, you wrote the book on logic! and you own a boat!!)

truecon on February 16, 2016 at 3:05 PM

It doesn’t make sense. Obama gave student debt collection agencies the power to dock 15% of paychecks without notice or agreement from the debtor, so they didn’t need him to sign anything to get the money. And the cost of sending in the the authorities and processing him is about equal to the original debt.

blue13326 on February 16, 2016 at 3:07 PM

Students are dangled easy credit terms, with no interest and no principal due before graduation. Parents often co-sign these huge loans. Sometimes the signers aren’t even shown a basic amortization schedule (as required for, say, a home mortgage loan).

Title IV rules require any monies in excess of tuition + college costs to be given directly to the student within 3 business days. Colleges encourage over-applying and the kids think it’s free money and blow it all.

The whole thing is a racket.

Gideon7 on February 16, 2016 at 3:07 PM

truecon on February 16, 2016

ROFL. You’re acting as if the responsibility lies entirely on the colleges, and it doesn’t.

I took a lot of my classes online, which lowered my living expenses and let me have a flexible schedule so that I could work part-time.

The tuition was much more economical than it would have been if I had attended any of the 4-year colleges in-state.

90% of my books were electronic, which save a lot of money there.

The major I pursued put emphasis on skills development, so I came out of the degree with 5 national credentials.

It can be done. The student has to be the one to accept that responsibility, not the school.

lineholder on February 16, 2016 at 3:10 PM

I was eyeing that as the biggest question of the story.

LoganSix on February 16, 2016 at 3:02 PM

And I am paying off my student loans.

rbj on February 16, 2016 at 3:11 PM

I’m not outraged they arrested him; I’m outraged that they let it go for so long. After 29 years, it was pretty clear that the man felt no obligation whatsoever to pay back the money he’d borrowed.

If people don’t want to get jammed up with the government for defaulting on their student loans, maybe the best idea would be for the government to stop making them (and universities to stop relying on cheap money to finance their ever-increasing tuition for useless degrees).

morganfrost on February 16, 2016 at 3:11 PM

(BTW I do consulting work as a programmer for college financial aid departments. If comments go to FaceBook I won’t be posting for fear of losing my employment.)

Gideon7 on February 16, 2016 at 3:12 PM

I was shocked to find student loan debt on my credit report about ten years ago over a loan taken out in 1970. They wouldn’t release the claim until I showed proof it had been paid. ( I had paid it off in 1979). How many people keep records of payment for 35 years? Luckily I’m one of those anally motivated sorts and I dug out the payment receipt. Took them over a year to clear it from my credit report after I gave them the payment proof.

The student loan circuits are worse than the irs, and they have more power than the irs to ruin your life. So don’t tell me that government is not too big.

NOMOBO on February 16, 2016 at 3:12 PM

Hot Air Lives Matter too!

(Deleted For Violent Content by Facebook)

Oh, yeah: School loans? Finished training in 1993; paid off, 1997.
Cough it up, deadbeats.

orangemtl on February 16, 2016 at 3:13 PM

lineholder on February 16, 2016 at 3:10 PM

when you are smart enough to work the quote function, i’ll consider engaging more with you. having said that, you are a great example of the problem with our university system. it is meaningless, as are the degrees they grant. someone like you should never have gone to college. but you are simply not smart enough to understand why. oh well.

truecon on February 16, 2016 at 3:13 PM

I see a lawyer and law suit in his future.

docflash on February 16, 2016 at 3:16 PM

You can’t pay off $1500 for 29 years? That’s a little over $50 a year. Not in favor of arresting him, but come on.

rbj on February 16, 2016 at 2:46 PM

Because student loans don’t have interest? Yes, actually they do. Some don’t have interest while you are in school but even those start accruing the second you graduate.

Tlaloc on February 16, 2016 at 3:16 PM

And for all of you old timers out there who actually paid off your loans because you felt like it was an obligation on your part, well… sucks to be you, I suppose.

You mean to tell me that it’s NOT your obligation to pay back your student loan? Sounds like you fit into the “I never paid back my student loan either” category Jazz. At least those that did have a conscience and did the honest thing. Only someone with a lack of integrity and trustworthiness would say something like “it sucks to be you.”

RMCS_USN on February 16, 2016 at 3:16 PM

when you are smart enough to work the quote function, i’ll consider engaging more with you. having said that, you are a great example of the problem with our university system. it is meaningless, as are the degrees they grant. someone like you should never have gone to college. but you are simply not smart enough to understand why. oh well.

truecon on February 16, 2016 at 3:13 PM

ROFL! You really are a smug, condescending little anal sphincter, aren’t you?

I went back to school because the manufacturing industry had fallen flat, I had lost all of my assets, and it was the quickest way for me to get into a career field where I could make decent money and I would be dependent on other people for the rest of my life.

I really don’t care what you think about it. I have a good job now, paying off my debts, looking to buy a piece of land…and that’s worlds better than living out of my car.

I’m grateful that things have worked out as they have, so far.

lineholder on February 16, 2016 at 3:18 PM

Hey! It’s the land of the free stuff man!

/s

DarkCurrent on February 16, 2016 at 3:18 PM

s/b
I would NOT be dependent on other people for the rest of my life.

lineholder on February 16, 2016 at 3:18 PM

I don’t know why some people act like jailing someone for not paying student loans is such a travesty and then also support jailing those that don’t pay child support.

Once the Rubicon of debtors prisons has been crossed, there’s no limit to what the government can/will do to people.

ramesees on February 16, 2016 at 3:19 PM

Hot Air Facebook Comments: Not Ready for Prime Time

will77jeff on February 16, 2016 at 3:19 PM

We need a “The Loan is Too Damn High!” candidate in the presidential race…

Wait… nevermind!

RedManBlueState on February 16, 2016 at 3:23 PM

The counseling that students get from financial aid departments is a joke. “No interest until graduation! Invest in your future! You can take out extra money for yourself!”. Then after graduation the magic of compound-interest makes these kids pay 2-3X on the back end, with Sallie Mae grinning all the way.

Gideon7 on February 16, 2016 at 3:25 PM

Does it end? Will it blend?

Tard on February 16, 2016 at 3:26 PM

1500 bucks in ’87 will be a lot more now.

Joseph OHenry on February 16, 2016 at 3:33 PM

Thank goodness that Obama is now cracking down on deadbeat students.

Oh, I’m sorry, I meant the colleges, not the students.

Oh, I’m sorry again, I meant trade schools and community colleges that are for-profit.

How? By researching student default rates and coming up with a number that will drive at least 25% of all for-profit colleges out of business, then pushing regulations to hit that target — the so-called ‘Gainful Employment’ regs (which have nothing to do with employment).

A federal court threw out the GE regs because of a lack of rational basis (the Dept of Ed merely worked the numbers backwards to hit 25%).

So Obama just waited for the DC Court to be packed by Harry Reid and just re-issued the regs again. Voila!

Gideon7 on February 16, 2016 at 3:33 PM

You wanted nationalized student loans?

I give you nationalized student loans.

Wait until you see what happens when you don’t take your flu shot.

Skywise on February 16, 2016 at 3:03 PM

you will be asked “Did you have your flu shot” followed by “Do you own a gun” “Is there a gun in your household”

Goodie on February 16, 2016 at 3:39 PM

You can’t pay off $1500 for 29 years? That’s a little over $50 a year. Not in favor of arresting him, but come on.

rbj on February 16, 2016 at 2:46 PM

Sseriously. If he paid monthly, that would have been about $4.30 per MONTH. My water bill is 10 times that.

Arrest? A bit much.

Harassing this deadbeat to fork it over in some other way? Totally warranted.

Good Lt on February 16, 2016 at 3:39 PM

the “Loan” Ranger rides again

hiho Silver

Senator Philip Bluster on February 16, 2016 at 3:41 PM

it is meaningless, as are the degrees they grant

I take it you don’t go to the doctors, or deal with any people in the world with degrees?

Of course you don’t.

Good Lt on February 16, 2016 at 3:43 PM

Sseriously. If he paid monthly, that would have been about $4.30 per MONTH. My water bill is 10 times that.

Arrest? A bit much.

Harassing this deadbeat to fork it over in some other way? Totally warranted.

Good Lt on February 16, 2016 at 3:39 PM

How is it that you guys have no concept of what interest is? Seriously…

Tlaloc on February 16, 2016 at 3:45 PM

How is it that you guys have no concept of what interest is? Seriously…

Tlaloc on February 16, 2016 at 3:45 PM

Wasn’t this a government loan? They’re 0% interest, right?

Good Lt on February 16, 2016 at 3:47 PM

Wasn’t this a government loan? They’re 0% interest, right?

Good Lt on February 16, 2016 at 3:47 PM

Usually not government and never 0%. So…’no.’

Tlaloc on February 16, 2016 at 3:50 PM

Now I agree that well, 1500 bucks after all this time should have been paid off. We are not talking about $100000 worth.

On the other hand, loans are usually civil matters unless as pointed out, there can be proof to be had that he intended to do fraud which I dont think is the case… and the way they went about ARRESTING HIM.

Is this the road we want to go down? Arresting people for debt?

watertown on February 16, 2016 at 3:52 PM

Wasn’t this a government loan? They’re 0% interest, right?

Good Lt on February 16, 2016 at 3:47 PM

One of mine is at 4% and the other is at 6%

lineholder on February 16, 2016 at 3:53 PM

I think 8000+ posts 100% negative and Salem management is re-thinking it.

WE are the product. 1000s of messages yesterday said “I come here for the comments”. Without us, they have no product, they have a lame version of Townhall.

Who is John Galt on February 16, 2016 at 2:53 PM

Who is John Galt on February 16, 2016 at 3:54 PM

Hey this doesn’t look like Facebook

jephthah on February 16, 2016 at 3:55 PM

BS. The student loan game is rigged for everyone but the student. Universities employ thousands of worthless professors, supported by unnecessary administration (if you got rid of the worthless classes and universities), and people are forced to get often worthless degrees in worthless subjects to try to compete with little to no guarantee of a job while it is impossible to default on your student debt, but the banks will get paid, the universities get paid, the politicians get paid, and the students get screwed. It is a corrupt system and it is any self-respecting individual’s duty to fight it in any way he can.

truecon on February 16, 2016 at 2:52 PM

What a complete load of utter B$. Universities force people to take out loans and then force them to peruse worthless degrees? Seriously, what do they do hold a gun to their heads for 4 or six years while they go to school to get that degree while being forced to sing up for ever increasing students loans?

Johnnyreb on February 16, 2016 at 4:00 PM

Zuckerburg and his FB idiots would say this guy was railroaded and his loan should have been free anyway.

Indiana Jim on February 16, 2016 at 4:01 PM

Well this story hits me in the soft spot since the wife just graduated last year and now we get to start paying off the student loan. They ARE interest free (while you are in school), then like a previous commenter said the second you graduate interest starts accumulating. For now I will pay the minimum payment until I see if Bernie is going to bail me out and pay for all this. :)

But, until then:

But the bottom line here is that a student loan is still a loan. You took it out and signed on the line agreeing to repay it.

~Jazz Shaw

Vigilante on February 16, 2016 at 4:01 PM

27 years and couldn’t pay off $1,500???? If Obama had a son…..

SansJeux on February 16, 2016 at 4:03 PM

We still alive? Mayan calendar didn’t end? Salem must have realized the COMMENTERS make this site what it is, not the bloggers.

Without us, it’s Townhall and they already own that.

Who is John Galt on February 16, 2016 at 4:05 PM

He says seven deputy US Marshals showed up at his home with guns and took him to federal court where he had to sign a payment plan for the 29-year-old school loan.

But it’s inhumane to deport illegals..or something.

xblade on February 16, 2016 at 4:07 PM

Illegal immigrants – Obama gives them thousands of dollars, housing, food and medical care….

Actual Citizens with student loans in default against the federal government – Obama sends the swat team after em…

Socialism.

Skywise on February 16, 2016 at 4:10 PM

Usually not government and never 0%. So…’no.’
Tlaloc on February 16, 2016 at 3:50 PM

Except for the fact that one of the first actions Obama, Pelosi and Reid did in 2008 was nationalize student loans for the good of the proletariat.

So… Government yes and the use of a federal raid is authorized.

Heil Obama.

Skywise on February 16, 2016 at 4:13 PM

Fifteen hundred bucks? And he goes on TV to whine about it? What a chump-ass worthless loser.

M240H on February 16, 2016 at 4:18 PM

Ridiculous.

RoddREpub on February 16, 2016 at 4:20 PM

Start arresting a few of them and the rest will pay off their loans finally. Why should they get off the hook because of the passage of time?? Thats still OUR money they took!!

Indiana Jim on February 16, 2016 at 4:20 PM

Strange times. Seven marshals over $1500? How about just turning it over for collection and let them defend the non payment in court or get garnished? Arrest, to me, is entering into big brother land.

Limerick on February 16, 2016 at 2:50 PM

This ^

Of course the deadbeat should have paid his bill but seven marshals is over the top. Wage garnishment and trashed credit seems preferable to debtor prison.

Shtetl G on February 16, 2016 at 4:21 PM

Typical liberal democrat philosophy= ignore it and maybe it will magically go away. Lol!! What the fcuk ever happened to personal responsibility and a sense of pride with these azzholes????. You catch all that? You FB idiots??

Indiana Jim on February 16, 2016 at 4:22 PM

Except for the fact that one of the first actions Obama, Pelosi and Reid did in 2008 was nationalize student loans for the good of the proletariat.

So… Government yes and the use of a federal raid is authorized.

Heil Obama.

Skywise on February 16, 2016 at 4:13 PM

That’s funny mine are still through a private entity. Almost as if your a$$ were the one speaking.

Tlaloc on February 16, 2016 at 4:22 PM

That’s funny mine are still through a private entity. Almost as if your a$$ were the one speaking.
Tlaloc on February 16, 2016 at 4:22 PM

Processed by the private entity…
owned by the Feds…

Skywise on February 16, 2016 at 4:25 PM

And I am paying off my student loans.

rbj on February 16, 2016 at 3:11 PM

Well, my yearly college costs was higher than his loan and I managed to pay it off as I went along by working a job or two… that was only 20 some years ago. It would have been even easier in the 80s.

LoganSix on February 16, 2016 at 4:29 PM

misleading

He didn’t show up on his court date, so the company asked the judge to use US Marshals (federal court, so no police involved necessarily) to find him and have him appear in court. If you miss a court date guess what: a warrant gets put out.

So this asshat had no intention of repaying his loan, thought he could get away with it, got summoned by the federal government for a hearing which he ignored. He is then forced, legally, to go to court and face his judgement.

tlynch001 on February 16, 2016 at 4:30 PM

Processed by the private entity…
owned by the Feds…

Skywise on February 16, 2016 at 4:25 PM

Maybe Tlaloc’s ass needs an interpreter.

darwin on February 16, 2016 at 4:34 PM

if your a$$ were the one speaking.
Tlaloc on February 16, 2016 at 4:22 PM

There’s that vaunted civility people were talking about yesterday.
Tlaloc on February 16, 2016 at 2:10 PM

Skywise on February 16, 2016 at 4:34 PM

I am not sure that prior loans done privately are not staying with the private banks. Certainly all primary loans are now govt controlled. You can still get private loans, but they tend to be based upon underwriting practices – for instance Medical School can still find private loans. I am sure there are some others.

Zomcon JEM on February 16, 2016 at 4:45 PM

It does come down to ignoring subpoenas & court dates.

Tard on February 16, 2016 at 4:47 PM

Community college graduate? Even so, busting him thirty years after the fact?

WestVirginiaRebel on February 16, 2016 at 4:55 PM

Because student loans don’t have interest? Yes, actually they do. Some don’t have interest while you are in school but even those start accruing the second you graduate.

Tlaloc on February 16, 2016 at 3:16 PM

Okay, you win.

Federal student loan rate is 4.29% for a Stafford Loan, so had he paid zero for the entire time, the total amount owed would be less than $5300.

Fifteen bucks a month.

Calculating the cost that accounts for how much would be paid down and how much interest would be capitalized over time is a more difficult calculation but I would ballpark it at around the cost of a Netflix account.

The Schaef on February 16, 2016 at 5:20 PM

Prediction: bankruptcies in Houston area set to skyrocket as student loans ghestapo posses off so many people with this tactic they’ll cut off their right hands before being forced st gunpoint to pay. God only knows how many of these loans are even legitimate when they wake we years to follect. Good luck proving you paid it off 20 years ago.

TheBigOldDog on February 16, 2016 at 5:20 PM

That’s funny mine are still through a private entity.

Tlaloc on February 16, 2016 at 4:22 PM

Wherein Tlaloc presumes a private entity has the authority to send US Marshals to your door to set you up on a payment plan.

The Schaef on February 16, 2016 at 5:22 PM

Ironically, the government is handing out loans today like candy directly to the students who use them to live on and then drop out. The feds have been forgiving Hugh chunks of these new direct loans. Watch Judge Judy and you’ll see exactly what I’m talking about. It’s a major Obama wealth transfer scam. So it’s hilarious they are going after these tiny, ancient loans that were paid directly to the schools and only used for tuition and books. Somebody figured out how to by these loans for a penny on the dollar and use the coercive power of the government to collect at gunpoint. God bless America

TheBigOldDog on February 16, 2016 at 5:26 PM

Steal into this country in the dead of night, take jobs Americans could be doing, dump kids indiscriminately into our over-crowded schools, add to the growing crime rate, send billions of dollars south to supplement your lazy kin, scam entitlements and benefits, get in-state tuition at our colleges and universities so you can tell us what racist and bigots we are and you’re good to go. Don’t pay a 1300 dollar school loan from 1987 and you risk being shot by the US Marshals.

Illegal immigration…it’s what’s wrong with this nation.

iosivich on February 16, 2016 at 5:40 PM

Obama needs more money.

bopbottle on February 16, 2016 at 5:46 PM

“Hey kid, have a taste, it’s free. No payback until graduation. Do like it? I can get you more where that came from.

“So how about extra money for goodies like video games and Steam, uh, I mean living expenses? You gotta live, right? And remember it’s all free!

“And if you drop out, we won’t tell your parents [FERPA regulations]. We won’t even confirm if you are enrolled or not. Then you can spend it all yourself for 2-4 years! Those suckers co-signed your loan so they’re on hook anyway.

“Kid, welcome to Moolah U!”

Gideon7 on February 16, 2016 at 5:48 PM

Wherein Tlaloc presumes a private entity has the authority to send US Marshals to your door to set you up on a payment plan.
The Schaef on February 16, 2016 at 5:22 PM

Well he was in violation of court order – but it was the federal government that brought the charges – NOT the private entity.

The question is – would a private bank pay the exorbitant court fees to hire a 6 man gun team to retrieve their $1500 claim?

Skywise on February 16, 2016 at 5:50 PM

trying to make loan forgiveness a major gotcha issue for the upcoming election.

Mitochondrion on February 16, 2016 at 5:55 PM

If you took out loans for a 4 year party and never bothered to, you know, learn a trade that PAYS, then it’s entirely your fault. Of course you should be forced to pay it back. Next time don’t be so stupid.

HotAirian on February 16, 2016 at 5:56 PM

Processed by the private entity…
owned by the Feds…

Skywise on February 16, 2016 at 4:25 PM

..and backed by the American taxpayer – and now some of the Bernie supporters want us to pay off their debt.

No way in hell, kids better get this through their heads – you signed and you are committed to your obligations. Bernie isn’t gonna that.

celt on February 16, 2016 at 5:56 PM

deploying those 7 cost more than they will get from him.

dmacleo on February 16, 2016 at 3:00 PM

Yeah, assuming the guy told the truth, that seems a bit over the top to send SEVEN marshals to collect $1,500. Send those same seven to collect the back taxes owed by Jesse Jackson.

RMCS_USN on February 16, 2016 at 6:06 PM