OT - Government requires graduates to time travel

Submitted by Red_Lee on July 14th, 2010 at 1:09 AM

Just checked my new Direct Loans notification that said:

# of payments  Payment amount    Effective date

119                         $128.58                  11/17/1858

 

GREAT SCOTT! Someone get me a flux capacitor! 

And I have to pay these buffoons money...

Comments

Red_Lee

July 14th, 2010 at 1:17 AM ^

It showed up on all 4 digits. Even the last payment row had the same typo.

Maybe I won't have to pay them. It's the Happy Poor-Michigan-Grad Pity God. 

 

Edit: crap, that was supposed to be a response. 

Red_Lee

July 14th, 2010 at 1:27 AM ^

This could single-handidly ruin my credit. Looks like I better be shopping for a sofa that fits in a cardboard box. 

 

If I had the money, I would build a new Crisler Arena. It'll be better than bad, it'll be good. Like Log. 

NomadicBlue

July 14th, 2010 at 7:27 AM ^

You should be working on your sales pitch to the devil.  i've heard he has had an influx of souls lately, but when the right model comes, around he always pays top dollar. 

BTW.  +1 for the Ren & Stimpy reference. 

"What's good for a snack, and fits on your back?  It's log!  Log! Log!"

Zone Left

July 14th, 2010 at 9:32 AM ^

Definitely, especially because interest rates were much higher back in the day.  Below is an old paper listing a prevailing interest rate for bonds in 1866.  According to that, prime bills (the safest bonds) were about 7-9% interest.  Being conservative at 7%, compound interest on  a $1000 bond would gross you $29,264,035.04 today.  Take away taxes of 40%, and you net $17,558,421.

Have you clicked the Beveled Guilt link recently?

 

http://www.nber.org/chapters/c6354.pdf?new_window=1

octal9

July 14th, 2010 at 11:28 AM ^

I wonder if they're calculating that effective date in an odd way - by subtracting the number of payments left from the loan's due date.

Is your loan due to be fully paid sometime after say, January 19, 2038? That would result in the program calculating a completely incorrect date like that.