Today's blog contains a question I'm hoping...

everyone who reads will leave an answer to, somewhere.  In the comments section, or if you get here by the link on my Facebook page, there is fine as well.  I'll publish any results in a day or two.

The question is, should the bank that made the loan I'm about to describe should forgive the loan?  If yes, why and if no, why not?  The loan in question was a private student loan made to a student who went to college to study music production and couldn't get the loan without his mother co-signing the application.  Sadly, he died of natural causes at the age of 24.  His federal student loans were forgiven, but this private loan was not.  His mother is now 61, back at work, and helping to support her dead son's child in addition to trying to make the payments on the $10,000 loan. 

She started a petition on Change.org calling on the lender to forgive the loan and so far, 200,000 people have signed it.  Now if only 5% of those who took time to sign this petition would donate $1 toward the loan, that would pay it in full (more or less).  I'm surprised someone didn't take the initiative to set something like that up.

You may not have shared your answer to my question yet, but it isn't fair of me to ask a question if I don't share my own response.  I think the lender should waive all of the interest ever charged on the loan, apply all payments that have been made thus far to the principal amount, and give her interest free payments on the remaining loan balance that she can afford.  They shouldn't profit from this loan, but they shouldn't suffer a loss on it either.

If you can't make the payments, don't co-sign.  That's a lesson some people learn through an experience that proves to be very expensive.  Unless you can easily afford to pay off the loan amount and wouldn't miss the money if you were called upon to do so, you should never co-sign a loan.  She wanted to give her son an education and that's laudable.  But in doing so she took on a risk.  It's a tragic situation but one that could be solved through charitable giving by individuals, or else by the institution making alterations to the predicament so that they aren't profiting from the tragedy.

Today is one of those VA multiple appointment days but fortunately the appointments are back to back and hopefully the first won't run into the start time for the second.  But I will be there for awhile.  Depending on how the timing works out, I may go down to the Santa Monica Promenade and brave the holiday crowds to see the film "Middle of Nowhere".

Fun With Classified Ads:

"Please place resume and a few pictures in the body of the email.  Applicants without 2 yrs experience and Resumes without pictures will not be considered."  A few pictures?  One isn't enough?

"Sous Chef - $15.10"  Yeah, that extra ten cents an hour is going to make the difference in getting and keeping a qualified sous chef.

This Date in History:

On this date in 1782, representatives from the United States and Great Britain signed preliminary articles to bring about a peace; these articles were later formalized in the Treaty of Paris.
On this date in 1786, the Grand Duke of Tuscany declared there would be no more imposition of the death penalty in his country.
On this date in 1803, Spain transferred the territory known as the Louisiana Purchase to France.  20 days later, France will transfer the land to the United States.
On this date in 1804, the U.S. Senate began the impeachment trial of Supreme Court Justice Samuel Chase.
On this date in 1886, the Folies Bergere staged their first revue.
On this date in 1939, Soviet forces cross into Finland, starting the "Winter War".
On this date in 1940, Desi Arnaz and Lucille Ball marry.
On this date in 1942, Japanese naval forces defeat U.S. naval forces in the Battle of Tassafronga.
On this date in 1967, the Peoples Republic of South Yemen gains independence.
On this date in 1972, White House Press Secretary Ron Ziegler announced U.S. troop levels in Vietnam are down to 27,000 and no further announcements concerning troop withdrawals.
On this date in 1982, Michael Jackson's album "Thriller" is released.
On this date in 1993, President Clinton signs the Brady handgun bill.
On this date in 1995, Desert Storm officially ends.
And, on this date in 2004, Ken Jennings finally loses on Jeopardy, ending his record run that earned him more than $2.5 million in prize money.  The answer that beat him:  "most of this firm's 70,000 seasonal white collar employees work only four months a year" to which he responded "What is FedEx?" while the correct answer was "What is H&R Block?"  The woman who beat him promptly lost her championship in the very next show.