Jacqueline Kent Cooke: Heiress Arrested

$25mil + 10% of the Skins ($~80mil).

Is he entitled to more?

it just seems like a small % to leave your oldest living son that was running your football team. you're worth 800 mil or a billion and you leave the person you're probably closest to 25 mil? i know john got 10% of the sale from the team. i know that's a shitload of cash. but why not leave the team to your own son and keep it in the family? i could never understand why jkc did that. the mara's and hunt's didn't do what jkc did. but hey....it's his $ and he did what he wanted to do.

but his own daughter can't even pay for her school. that's pretty messed up.

it just seems like a small % to leave your oldest living son that was running your football team. you're worth 800 mil or a billion and you leave the person you're probably closest to 25 mil? i know john got 10% of the sale from the team. i know that's a shitload of cash. but why not leave the team to your own son and keep it in the family? i could never understand why jkc did that. the mara's and hunt's didn't do what jkc did. but hey....it's his $ and he did what he wanted to do.

but his own daughter can't even pay for her school. that's pretty messed up.
First, she can pay for her own college if she lives within her means. She gets $50k/year. I'm sure she is eligible for student loans (which is different from financial aid), even if $50k is "not enough" (wait till Schneed gets a hold of this thread).

Second, what if his son is an idiot? JKC put the Skins in the hands of the people he thought could run it best. In this case, that was the free market.

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

Please. Does anymore really need to be said?

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.

$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.

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 (http://colleges.usnews.rankingsandreviews.com/usnews/edu/college/directory/brief/drglance_3613_brief.php). My math is just so-so, but I'm pretty sure $41k<$50k. Even if taxes reduce the $50k, get a loan.

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

Let's be fair to the heiress - tuition, room, and board are $41k/year (http://colleges.usnews.rankingsandreviews.com/usnews/edu/college/directory/brief/drglance_3613_brief.php). 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.

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.

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.

You're absolutely right about a private student loan. Regardless, her mother was quoted as saying "her father never intended for her to want for an education." Want for an education??? Please. University of Texas at Austin has tuition, room, and board for just a hair over $16K annually.
USNews.com: America's Best Colleges 2008: University of Texas–Austin: At a glance (http://colleges.usnews.rankingsandreviews.com/usnews/edu/college/directory/brief/drglance_3658_brief.php)


I just feel so bad for her. I mean, imagine the emotional suffering that comes with facing the possibility of getting a part time job??