Dead Woman's Parents Told To Repay Her Wells Fargo Student Loan

Very true. But how can politicians or anyone fight the Banks? They are afraid of the consequences. We need a good plan. Strategy.

so what then? regulate college tuition? prohibit some from college? don't allow loans to go to college?

My point was that if our country had its priorities straight, we wouldn't have ever allowed our 39-year-old monetary system to prey on people's desires for an education. Investing in our next generations' wage-earners and intellectual-capital producers is money well spent. So yes, let's regulate college tuition by funding higher education in the first place so that the need for made-up loans that feeds the financial services industry becomes obsolete.

39yo? you want us back on gold? is there not enough inflation for you?
>"prey on people's desires for an education"
you're saying that closing the gold-standard has led to schools preying on teenagers _and their parents_ 'tricking' them into wanting a college education? that these are directly connected and causal and bad?
as for funding higher-ed; there is a college 1/2 mile from my house that is $200/credit. it is state run and funded, wide range of fields of study, very well staffed and equipped and the credits transfer right to the state university that is also state run and funded.
the problem is not availability or access to college, it's that idle wanderers want to go to the prestigious (expensive) schools without knowing why or being prepared to finance it.

Not the schools, the banks that make borrowing cheap, made-up money as easy as possible. They make the (bad) decisions by the idle wanderers possible. The reason they do so is because loans are how money is created. Kids making huge decisions to borrow enormous amounts of money without ever being educated somewhere along the line why the loans are being offered to them in the first place only makes them a patsy in the larger scam.

As for the gold standard. I only hope we don't go ever go there again. The deflation that would ripple through the economy over time because the supply of gold doesn't grow at the same rate as population anymore would be devastating. My point about the monetary system only being 39 years old was to point out that unbridled privately issued fiat debt-money hasn't been around for all that long.

Lastly, I agree starting at a State College and finishing up at a State University is the way to go. I did it that way myself, and was completely satisfied with the results.

i don't understand how you can blame the banks (who with the help of the govt) make loans available and leave the schools that do the heavy recruiting blameless? there is no 18yo preparing to go to college that isn't inundated with promo material from colleges and doesn't have a support system of parents, family, school councilors, manuals and guides as well as the schools' admissions advisors to help them realize what is going on. the problem i see is the immaturity level that is socially encouraged leaves these kids blissfully unaware of the implications of signing on the line and big of a decision that really is. they just think they're going to sleep-away camp. as for the banks' interest, it's only good for them if the kid pays them back.

>Lastly, I agree starting at a State College and finishing up at a State University is the way to go. I did it that way myself, and was completely satisfied with the results.

and did it cost more than you could hope to repay in your lifetime?

you're damned if you do and damed if you don't

Doesn't the story suggest that the deceased's estate consisted exclusively of her parents, which was merely a euphemism for the fact that the deceased had no estate, so the bank stepped out of legal line to go after the parents?

it does kind of suggest several things, but as it seems to be a sensationalist corporate/bank bashing story devoid of particular facts, we can't really be sure. in that respect it's pretty lame journalism and barely more than mere gossip. it refers to heirs as if there might be something of an estate. she had graduated and may have assets including life insurance. i would've liked to know. it also wasn't completely specific that the wells fargo loan is the kind of student loan that is forgiven upon death (for which banks have insurance - remember aig?) it might have been a supplemental loan or personal loan or even a form of credit card debt in which case they are are not out of line, legally. it may even be that a demand letter was sent for repayment before the death was registered. my mortgage is with wf and payment is due on the 4th for which i've arranged an electronic transfer, but i invariably get a call from 'judy' on the 4th about my 'loan'. i was less than a week late last summer and they had already sent someone to mow the lawn. (so i got my lawn mowed for free, and so made another late payment in sept) but i digress, if there was to be any estate to speak of then probate courts typically disburses money to first-come-first-served, all things being equal.

its quite easy to get trapped. You go for two years at a slightly horribble fee with a decent interist on it. then you find out before your junior year that tuition has jumped by 5K a semester while at the same time prices on other goods have risen so you need to come up with 15K before the next year. you already have loans worth 20K that if you drop out you couldn't afford to pay so you apply and are granted new loans with horribble interist rates. flash forward another year to discover that fee's haven risen another 15K. so you can either drop out of school and pay 35K in loans or you can complete your final year and be 50K in debt with a job that you can afford to pay your loans off. Then the job market is such a pile of shit you end up working as a secretary for a discount pest exterminator outfit trying to stay out of the shelter.

Yeah, I could see how that could happen.

It's shallow of me I admit, but it's hard to take seriously people who pick their noses...

so let me see.... your world works better if NO ONE is educated because they can't afford it... right? In other words, let's keep everyone stupid.... they're easier to control. U really R a loohooser.

i'm gonna call bs on that. tell me the school that raised fees 20k in a single year and i will march the picket line. your premiss that your smart enough to get accepted to a 30k/yr school but not smart enough to read the part about the 4 year estimate or that you should multiply by 4 to find a total and didn't prepare keep applying for the loans for each successive year and had to go to an expensive private school and couldn't keep up with the ridiculously long repayment periods, is not to be believed. either that or you cheated your way in and are in need of 'round the clock supervision.

me too, that's why i've hired an avatar to do the picking for me.

see if you can wrap your brain around this; everyone can't go to harvard or stanford. we all can't have everything we want. if you don't have enough money and income to cover the expense that you can't get loans and grants for then you can't go to that school because you can't afford it. full stop. banks give loans, underwritten by the govt, organizations give scholarships and grants, you and your family work, who owes you the most expensive education possible? no one does. go to a less expensive private school, one that you can afford. or god forbid you should go to a public school. every state has at least one public university. hold you admission, most schools will, and take your intro courses at community college for a year. college is not some four year spa vacation that 'someone' pays for. is that too hard for you to understand? i suppose it must be.

... like lend money to people who want to buy things that they can't afford and then expect to be payed back. oh wait, that's their business plan.

oh yes thats what they tell you their business plan is, that and they will do anything to manipulate their mass of policy's to cause fees fines and whatever else they can get. I had this bank for about 2 years and they would rip me off every chance they got. Now I have switched banks and haven't had a single solitary problem. I will will never have any kind of business with that bank ever again.

YES! that is the open market at work.
same thing happened to me. i switched banks, too. if you don't like paying a few for using too many cheques or too few cheques or too small of a balance etc then you research alternatives and move your money. my problem was that my local bank got bought 1, 2, 3, 4, 5 times by larger banks. every time changing policies and fees etc. no i didn't read the disclosure carefully but when i started getting charged fees for stupidness i left. i'm at a credit union and a regional bank and am much happier.

btw i meant the 'business' plan comment to be somewhat obvious and sarcastic that they intend to slowly extract your money from you. it's legal loan sharking, vinnie would break your thumb, but let you keep your money so it's kind of a trade off.

What pissed me off was all of the sudden they started charging me a fee I was not supposed to get charged, the fee caused me to overdraft and then the fees just started piling and by the end of the week a 12 dollar fee was going to cost me over 400 bucks, so I said e fucka you and walked out. they still say i owe them the money and I still say they wont get a dime. They had done it to me before and I had forced them to issue credits but after that I was done and over it. Went to bank of America and haven't had a single problem, although apparently they are evil so I may have to switch again soon.

i rofl'd when i read you switched TO bank of america. they are the top of the 'fees r us' food chain.it's regional bank from charlotte who' business plan was to buy up as many other banks as possible. they bear little resemblance to the original boa. good luck.
they held my deposits for as long as legally allowed, they charged withdrawals off my account in descending order by amount which had the effect that they charged me a $35 fee each for three debit card payments of between $5 and $20. interest rates are so low that fees are the largest revenue stream, every fee is generated by a calculation and is 100% profit.