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TrinidadHokie

Joined: 11/14/2007 Posts: 141
Likes: 60


I'm potentially one of those guys. I recently pledged 50K (over 5 years)


to get elevated status (>= to Diamond Hokie) and lower future payments. I shuffled future retirement moneys to make this happen. I know a guy who borrowed against his 401K to get the money to do the same. The rules were simple and open to everyone, donate 50K (or more, over 5 years or less) and you get elevated status and lower future payments. Please don't assume we are all 99%ers.

So now we are being told, eff you, that program now longer exists, you go back with the rest of the pack. We don't care if you pledged a crap load of money and paid the University in 5 years or less. We don't care if you borrowed against your 401K. We don't care if you lost your job during that payback period, you are still responsible for all the payments. We don't care if you cashed in a IRA to fund this. I for one am hoping a few lawyers got equally screwed and lied to (yes lied to) and will go after this potential class action suit.

So by all means, down vote at will. But when you do, remember I pledged ~50% of my annual income to the University that I so love. Again, this program (Golden Champion) was open to everyone reading this post. I however was stupid enough to believe the University would actually follow through on its commitment.

BTW, I offered the Hokie Club the opportunity to zero out this contract, they refused.

(In response to this post by mackinboyvt)

Posted: 05/07/2016 at 7:03PM



+2

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