Jacqueline Kent Cooke: Heiress Arrested

[MTK]

Only $25M?

Damn that's rough.

It was his money, he was free to do with it what he pleased. I don't buy this notion that his descendents are "owed" anything.

[MTK]

$50k a year and she "can't pay for school"??

Please. Does anymore really need to be said?

[GMScud]

Originally Posted by Mattyk72

$50k a year and she "can't pay for school"??

Please. Does anymore really need to be said?

The funny part to me was the end of the Wash Post article- her attorneys said she's "depressed" from the "total frustration and emotional suffering of fighting for every dollar." HUH???

She's getting $50K/year now, in less than 2 years when she hits 21 she'll be getting $100K/yr for 14 years. Then at 35 she gets 8% of the total value of the trust annually, which right now would be around $500K/yr. And that's GUARANTEED! She doesn't have to bat an eye to get those funds. Ohhh, the suffering!! Ohhh the frustration!!

I got a friggin idea, count your blessings for being more financially fortunate than 99.5% of the planet, get a stinking job for a while, or better yet, go to a public university in Texas. There are plenty of them. It's not you're being denied a college education because you can't afford $23K a year in tuition. This is a joke.

[onlydarksets]

Originally Posted by GMScud

I got a friggin idea, count your blessings for being more financially fortunate than 99.5% of the planet, get a stinking job for a while, or better yet, go to a public university in Texas. There are plenty of them. It's not you're being denied a college education because you can't afford $23K a year in tuition. This is a joke.

Let's be fair to the heiress - tuition, room, and board are $41k/year. My math is just so-so, but I'm pretty sure $41k<$50k. Even if taxes reduce the $50k, get a loan.

[GMScud]

Originally Posted by onlydarksets

Let's be fair to the heiress - tuition, room, and board are $41k/year. My math is just so-so, but I'm pretty sure $41k<$50k. Even if taxes reduce the $50k, get a loan.

The article says she can't get a loan because of the $5M trust. Which is why I suggested a public university.

[onlydarksets]

Originally Posted by GMScud

The article says she can't get a loan because of the $5M trust. Which is why I suggested a public university.

I'm pretty sure the attorney in the article is wrong. It would disqualify you for need-based aid, but not a private student loan - in fact, I would think banks would LOVE a customer like her.

Also, I was definitely agreeing with you - she can afford this.

[jdlea]

Originally Posted by Mattyk72

$50k a year and she "can't pay for school"??

Please. Does anymore really need to be said?

It despends on where she goes. My tuition now is only about 10k, but at Tulane, $50k a year doesn't cover tuition, housing, meal plan and books for a year, so she may not be able to pay for school

[jdlea]

Originally Posted by jdlea

It despends on where she goes. My tuition now is only about 10k, but at Tulane, $50k a year doesn't cover tuition, housing, meal plan and books for a year, so she may not be able to pay for school

This will be misconstrued...

I understand that she will be given a ton of money per year for the rest of her life, so she should just be taking out student loans. She would easily pay for school then and not have to worry about the repayment because of the amount she will be getting.

Another question, why is she so concerned about attending college. I'm taking out huge amounts in loans to afford school and such, if I had guaranteed "income," there's no way I'd deal with college. I'd get a weak, no skills required job and put it in cruise control for the rest of my life.

[onlydarksets]

And, she's sitting on $6 million in principal (up from $5 million 10 years ago). By the time she can cash out, she'll have $10 million. Which she will blow through in about 10 years, I'm sure, without the help of the trust.

[onlydarksets]

BTW, the daughter of the former patriarch of the Skins goes to school in Dallas? She obviously has horrible judgment.

[skinsfan69]

If I were her I wouldn't even go to college. I'd invest the money in real estate and work a BS job. But that's just me.

[GMScud]

Originally Posted by skinsfan69

If I were her I wouldn't even go to college. I'd invest the money in real estate and work a BS job. But that's just me.

I don't know the girl, but from the sounds of it (whining about a huge inheritance while driving your BMW under the influence at age 19) she's got a pretty big sense of entitlement. I sincerely hope she actually wants an education, but I'd be surprised if getting a college degree means a whole lot to her. Probably just something for her to do until she turns 21 and her annual payments go up to $100K.

[WildHog21]

WOW....It sounds like JKC knew what he was doing with his dough. I agree with some of you peeps. It's his money so he did whatever he thought was right. As for his daughter she will get off easy.

[Giantone]

Originally Posted by WildHog21

WOW....It sounds like JKC knew what he was doing with his dough. I agree with some of you peeps. It's his money so he did whatever he thought was right. As for his daughter she will get off easy.

How?I mean just read this thread she is a girl in college who screwed up,if anyone here went to college we all pretty much did the same thing ...she got caught.Let me ask this ,how many of you out there when you make a mistake or screw up is it put in the paper the next day.....a National paper and what was her big crime,her dad was a horney old man who fought with his wife (actualy all his wives) and your step brother who is 50 years older than you is mad at you becuase his old man screwed him out of one the Major NFL teams,yeah she's a brat all right....maybe she has reason?

[saden1]

Folks, I would like to start a fund to help this poor girl get back on her feat. Who's in? I'd like to raise at least 20K to help her partly cover her school expenses and lawyer.