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Originally Posted by graciegirl
Well said. I don't think people should be able to continue to get money for college loans if they are failing. I see people on Judge Judy who are in their thirties and forties and in a college program and using the money to take vacations and get botox.
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I still remember years ago watching Federal agents towing and repossessing a Mercedes from a multi-million dollar house in Atlanta to collect on a student loan. The house was owned by a very successful, middle aged doctor. I also remember a 68 year old woman, who called in to a legal talk show. She wanted to sell a piece of property to retire, but wanted the lawyer to advise her on how to avoid the proceeds from being used to pay off her student loan. If you have a student loan, pay it off. The total student loan debt is now more than 1.5 trillion dollars, and about 12 percent of the loans are in default.