STUDENT DEBT EMERGENCY

STUDENT DEBT WEEK OF ACTION: 2/27 - 3/2

2012-02-25T09:08:00.007-05:00

The Student Labor Action Project has organized some specific actions you can help with in an effort to fight the student loan racket. Please take the time to read about the plans here, and to take these steps yourselves if you are so inclined!

The sociopathic beast of the student lending industry must be attacked on many angles. It is good to see different methods developing. Thank you to all who are in this fight.

The planned schedule:

On Monday: National Fax-in day to Albert Lord, Sallie Mae’s CEO, asking for a meeting with students from around the country that will be visiting their DC office. We will also continue to collect signatures for our petition, a banner that students are uniting behind.
On Tuesday: Students will escalate on their campus with banner drops, collect personal testimonies of students struggling with debt, track who their school banks with, and continue to fax-in to Albert Lord.
On Wednesday: Coordinated national showing of “Default: The Student Loan Documentary” on college campuses to raise awareness of the growing issue.
On Thursday: SLAP students will be leading and participating in walk-outs and letter deliveries to corporate and governmental targets in solidarity with the March 1 National Day of Action For Education, including Sallie Mae and the Department of Education.
On Friday: Based on where students are regionally, there will be lobby visits to Congress members asking for regulations to be put on student loan lenders, an increase to student aid, and to reduce the rate of federal loans.

THE STUDENT LOAN REVOLUTION IN AMERICA

2012-01-28T10:19:00.010-05:00

There are a lot of interesting things going on regarding student loan debt. For those who have been paying attention to this looming crisis for years now, the exponential rate at which it is gaining attention is very clear.

But corporations have seized power in America, and we must never stop exposing that truth. That is the root of the student loan crisis. This is also why Occupy Wall Street has been so viciously attacked by police this year. It is a striking contradiction to the US government admonishing foreign countries for attacking their citizens for exercising freedom of speech and peaceful assembly.

The exposure of the corruption is a great threat to the power elite. In reality, however, it is less an exposure of something, and more of a mass awakening to a reality that was already present, but being largely ignored.

ON MONDAY JANUARY 30, THE PRESIDENT WILL JOIN A SPECIAL GOOGLE+HANGOUT FROM THE WEST WING TO ANSWER YOUR QUESTIONS ABOUT HIS STATE OF THE UNION SPEECH. YOU CAN POST QUESTIONS TO THE PRESIDENT USING THE FOLLOWING LINK. IN AN EFFORT TOWARD FOCUS AND SOLIDARITY, WE ARE ASKING THAT ALL OF YOU COPY AND PASTE THIS QUESTION ON THIS SITE:

"Mr. President, will you please support and pass bills HR 2028 and S1102 to restore basic bankruptcy protections and statutes of limitations for student loans? I am only asking for the same protections as an American citizen that corporations currently enjoy. Thank you."

YOU CAN ALSO CLICK "THUMBS UP" OR "THUMBS DOWN" ON EACH QUESTION, SO MAKE SURE TO SUPPORT OTHERS WHO HAVE POSTED THIS.

CLICK HERE TO JOIN THE CONVERSATION ON MONDAY, JANUARY 30!

Ralph Nader makes some excellent points in his response to the State of the Union speech:

A great article:

Will the Young Rise Up and Fight Their Indentured Servitude to the Student Loan Industry?

These recent infographics help explain the foul student loan mess:

The Higher Education Bubble

Obama's "plan" for the Student Loan Nightmare

The student loan scam in America really illustrates how politicians have favored corrupt capitalism at the expense of it's non-elite citizens, particularly in the last thirty years or so. Things have finally gotten so heinous that we are now seeing the broad-scale results of their shortsighted, sociopathic greed.

Keep on keeping on, and don't give up. We must continue to fight this injustice.

THIS IS LITERALLY A FIGHT FOR LIFE!

2012-01-01T19:59:00.003-05:00

HAPPY NEW YEAR!
2011 WAS QUITE A YEAR! LET'S KEEP IT UP!

In a year full of historic events and memorable moments, there were many quotes that captured the intensity of our changing times. One of the best came from author and activist Chris Hedges when asked to explain what Occupy Wall Street protesters want. It is included in this most excellent video clip which follows.

WHAT DO OCCUPY PROTESTERS WANT?

"They know precisely what they want. They want to reverse the corporate coupe that has taken place in the United States- and they won't stop until that happens. And frankly, if we don't break the back of corporations we're all finished anyway, since they are rapidly trashing the ecosystem on which the human species depends for survival. This is literally a fight for life."
- Chris Hedges

2012: THIS IS LITERALLY A FIGHT FOR LIFE

What does this have to do with student loans? Everything.

STUDENT LOAN BANKRUPTCY PROTECTION NOW!

2011-12-22T10:05:00.004-05:00

As attention to the student debt crisis has increased, various solutions have been discussed by advocates. Some politicians are taking the problem seriously, while others like Barack Obama make a joke out of it with his proposed inadequate repayment plans. He continues to encourage college attendance in the US, but does not address affordability, or the corruption at the universities and amongst the lenders.

Education in America is big business, the students are losing, and lives are being ruined. Our nation is suffering because of it. It is regressive and exploitative. It is indecent and immoral. It is greed and it is theft. It is ridiculous and it has gone on long enough. The problem is getting too big to ignore. We must fight. We must act now.

The stunning ignorance of the American public on this subject is illustrated on a regular basis. Over and over they harp that people should have known better about taking out student loan debt and the consequences of it. They blame the students for the disaster and not the universities, politicians, and lenders for their greed and corruption.

While some bad decisions were made by borrowers, all were made with good intentions and were encouraged by our student loan system and social structure. Any irresponsibility on the part of students pales in comparison to that of the banks and corporations that have crippled this country and impacted the global economy in recent years. The latter of which was intentionally destructive on the part of banks.

A healthy country and decent people do not condone the financial exploitation of their youth, and unsympathetically watch as the manifestations of a corrupt system begin to expose themselves in large numbers.

Students in general have been misled as to the practical value of an education. They have been told repeatedly that education is the key to building a solid future and career, and is a wise investment. We have begun to see this is a myth because the burden of financing education is greater than ever, while jobs are disappearing, wages are stagnant, and cost of living issues are exploited by capitalism gone mad (deregulation). Meanwhile lenders and administrators (who buy our political leaders' influence) are getting obscenely wealthy- like never before!

IT'S TIME FOR A CHANGE

Many of us believe the first order of business is restoring bankruptcy protections to ALL student loans (federal and private). Consumer debt and gambling debt can be discharged in bankruptcy. Donald Trump has filed for it, as well as many other wealthy Americans and corporations.

American Airlines just filed for bankruptcy. United Airlines and others have as well. Tax dollars went to bailouts after 9/11, executives got big bonuses, the employees took pay cuts, and got laid off, while fares went up- but very few seem too upset about this situation (except the smart, progressive people who are paying attention). Instead many people sit back and say Johny so-and-so should have known better before he got his degree in sociology at that expensive private school.

Student loan debt is the only debt that can not be discharged in bankruptcy now. It used to be dischargeable several years ago, but the law was changed. Why can other debts be discharged in bankruptcy and this not be? The reason is that corruption has allowed big banks to influence the US political system to their advantage. Student lenders pay the government through campaign contributions to support laws that favor their unethical behavior. In doing so tuition rates also continue to increase exponentially, because the schools are in on it too.

Restoring bankruptcy protections alone will not fix a higher education system that has been hijacked by the corrupt and greedy, but it will begin to change the situation. It will help those in the most severe debt (remember, it is not just the debt- compounded interest, the usurious interest rates, fees, penalties, etc. are also making the situation unmanageable.) It will also illustrate further just how toxic these debts are, and that the world is not quite the "oyster" college marketers make it out to be to prospective students.

When bankruptcy rights are restored we can then look at fixing the system to make education affordable, and helping other student debtors, who are struggling but are not quite in need of filing for bankruptcy yet.

There are politicians and groups trying to restore bankruptcy protections on student loans. Please support them by taking the following actions :

Call your congressperson and two senators to tell them to support HR 2028 and or S1102 (bills calling for the restoration of bankruptcy protection). Contact your representatives by clicking here.

*******SUPER IMPORTANT*******

"HR 2028 has been introduced and referred to committee. It still needs to be reported by committee before it goes up for a house vote, then a Senate vote, and finally goes to the President's desk to be signed. The 112th congress ends of January 3, 2013. If it isn't passed by then, it dies (like it did last time). S 1102 has only been introduced so far. We have never had more momentum, but WE MUST BE RELENTLESS TO GET THIS PASSED. EVERYONE NEEDS TO BE A BIG PAIN IN THE @SS TO THEIR CONGRESS PERSON EVERY WEEK! We can do this but only if we write INCESSANTLY!:)" (from Restore Student Loan Bankruptcy Protections)

If you are just tuning into the student debt crisis and the idea of bankruptcy protection, Student Loan Justice is the place to go to find out lots more about it.

Visit this this Facebook page dedicated to the restoration of bankruptcy protections for student loans, which also has great information and discussions. More information on HR2028 and S1102 and the politicians who support them can be found there as well.

The Top 5 Reasons Student Loans Should Be Dischargeable In Bankruptcy

AMERICA'S STUDENT LOAN SYSTEM: THE BEAST THAT SWALLOWS IT'S YOUNG!

We need to make this important step in the student loan crisis!

WHERE DO YOU STAND?

ARE YOU:

A) more enraged that lenders, administrators, and politicians are making millions off of students (and through tax dollars!) by corrupting the system.

B) does the idea of someone with unmanageable student debt filing for bankruptcy for an education- which was deceptively marketed to them in the first place, and never worth what they borrowed for it- make you more upset?

BEAUTIFUL MINDS

2011-12-01T11:47:00.009-05:00

A TRIBUTE TO ARTISTS AND ACTIVISTS

The Occupy movement and has revitalized progressive culture in a variety of ways.

It is comforting to see this in a time when so much hateful social ignorance, corporate criminality, and destructive, dangerous political policy surrounds us- and threatens our collective and individual well being on a daily basis.

Today's post is a tribute to all of the artists and activists (including those not mentioned here) who have contributed to this social awakening. Thank you for your wonderful work.

Here are a few favorites. Please share them, especially with those who are not paying attention.

This artist in Miami made a really powerful statement.

Hawaiian artist, Makana, is incredible. What he did at the APEC summit was amazing!

Occupy Boston street art illustrating the American corporate political machine.

A cool video clip

Singers performing at Liberty Plaza in New York City.

Activists taking on the Black Friday insanity at a mall in Portland, Oregon.

A creative graphic posted in Zuccotti Park.

This political cartoon captures the strange times we live in.

One of the best Occupy posters of all. So true!

Right on. A gay marriage in Zuccotti Park.

A dancer in Zuccotti Park...

...joins a break dancer in the park. Bank of America looms in the background.

THANK YOU TO EVERYONE WHO IS WORKING TO MAKE PROGRESS IN THE WORLD RIGHT NOW.

WE CAN CHALLENGE THE REGRESSIVE, IGNORANT, DESTRUCTIVE FORCES IN SOCIETY IN MANY WAYS.

DO NOT BE AFRAID.

Here are a few more great images of recent social action.

WHAT HAVE YOU BEEN DOING?

AIR RAID SIRENS BLARING! ADVISORY: SEVERE RISK!

2011-11-27T11:47:00.010-05:00

RED ALERT! URGENT ACTION REQUIRED!

WARNING! WARNING! WARNING! WARNING! WARNING! WARNING! WARNING!

THE FASCISTS ARE COMING! THE FASCISTS ARE COMING!

FASCIST IDEOLOGY CONTINUES TO CREEP INTO AMERICAN POLITICS WHILE MANY AMERICANS FOCUS ON HOLIDAY CONSUMERISM, TRASH POP-CULTURE, AND IGNORANT SELF-RIGHTEOUSNESS.

WE HAVE A MAJOR PROBLEM HERE!

PLEASE READ THIS PIECE FROM THE ACLU ABOUT THE PROPOSED SENATE BILL THAT IF ENACTED, sections 1031 and 1032 of the NDAA would:

1) Explicitly authorize the federal government to indefinitely imprison without charge or trial American citizens and others picked up inside and outside the United States;

(2) Mandate military detention of some civilians who would otherwise be outside of military control, including civilians picked up within the United States itself; and

(3) Transfer to the Department of Defense core prosecutorial, investigative, law enforcement, penal, and custodial authority and responsibility now held by the Department of Justice.

THIS IS EXTREMELY DANGEROUS AND OUTRAGEOUS!

THE ABOVE ACLU PIECE CONTAINS A SUPER EASY LINK TO CONTACT YOUR SENATORS AND TELL THEM NOT TO SUPPORT NAZI-LIKE LEGISLATION IN AMERICA!

JUST CLICK ON IT, AND TAKE TWO SECONDS TO FILL IT IN AND SEND IT!

12 WARNING SIGNS OF FASCISM:

1. Exuberant nationalism

Fascist regimes tend to make constant use of patriotic images, slogans and symbols - National flags are seen everywhere in public display. Territorial aggression is explained to be mere destiny -- a greatness thrust upon the nation by history.

It is this burden of unique responsibility that now raises the fascist state above all previous constraint, no longer bound by international obligations, treaties or law.

2. Enemies Identified

This national cause is identified as unity against enemies - The people are rallied around a unifying patriotism directed against some common threat: communists, liberals, a racial, ethnic or religious minority, intellectuals, homosexuals, terrorists, etc.

The state's message is sometimes couched in an easily recognized religious theme. Amazingly, this language is used even when the full context of the teaching shows the meaning to be diametrically opposed. Any dissent is "siding with the enemy", and therefore treasonous.

3. Rights Disappear

Disdain for human and political rights - Fascist regimes foster an artificial climate of fear by intentionally amplifying stress and anxiety. Citizens naturally feel a strong need for security and are easily persuaded to ignore abuses in the name of safety. The few still willing to question are met with bullying and smear campaigns of intimidation.

Legislative bodies, if still in existence at all, are cowed into rubber-stamp submission with occasional ceremonial opposition. The judiciary tends to become activist in support of state views. The public often looks away, or even enthusiastically approves as rights are stripped away.

The concept of the individual inevitably yields ground, exchanged for the promised safety of the all-powerful state.

4. Secrecy Demanded

Obsession with secrecy and national security - The workings of government become increasingly hidden. Questioning of authority is discouraged at all levels of society. From office talk at the water cooler up through the entire apparatus of rule, guarded speech and secrecy become ends in themselves.

Troubling questions are muted and entire areas of scrutiny are placed out of bounds by simply invoking "national security".

5. Military Glorified

Supremacy of the military - The military establishment receives a disproportionate share of government resources, even as pressing domestic needs are neglected. Individual soldiers and military culture are glamorized and made constantly visible.

This provides both an object for public glorification, as well as sharp warning to possibly restless citizens that the power of the state stands close at hand, ready to use its great potential for violence.

6. Corporations Shielded

Corporate power is protected - Typically, a segment of the business elite plays a major role in bringing fascists to national leadership, often from an unsavory obscurity. This marriage of big money and raw violence is often considered by historians to be the hallmark and backbone of fascism.

As these business-government-military interests meld, the significant threat of organized labor is clearly recognized. Labor unions and their support organizations are either co-opted successfully or ruthlessly suppressed and eliminated as soon as possible.

7. Corruption Unchecked

Rampant cronyism and corruption - Fascist states maintain power through this relatively small group of associates, mutually appointing each other to interlocking and rotating positions in government, business and the military.

With this degree of control, they make full use of both official secrecy and the ready threat of state violence to insulate themselves from any meaningful criticism. They are not accountable and are shielded from scrutiny in a way unthinkable in a democratic society.

8. Media Controlled

Controlled mass media - Sometimes the media are controlled directly by clumsy government functionaries. At other times, sympathetic corporate media insiders shape the themes indirectly, and therefor more skillfully. Image regularly trumps content as the "news" is presented breathlessly and with flashy stage effects.

A practiced formula of tenacious repetition brings even the most absurd lie into acceptance over time. By design, the very language itself and the coloration employed will push alternate views "out of the mainstream".

The terms of any remaining debate are narrowly defined to the state's advantage, making it easy to marginalize a truly differing perspective. Censorship and "self-censorship", especially in wartime, is common.

9. Rampant Sexism

Rampant sexism - Governments of fascist states tend to be almost exclusively male-dominated. Traditional gender roles are made even more rigid and exaggerated. Condemnation of abortion and a virulent homophobia are commonly built into broad policy.

10. Intellectual Bullying

Disdain for intellectuals - Fascist society tends to create an environment of extreme hostility to critical thought in general, and to academics in particular.

Ideologically driven "science" is elevated and lavishly funded, while any expression not in line with the state view is at first ignored, then challenged, then ridiculed and finally stamped out.

It is not uncommon for academics to be pressured to attack the work of their insufficiently patriotic peers. Writings are censored; teachers are fired and arrested. Free artistic expression in new works is openly attacked, and existing works deemed unpatriotic are often publicly destroyed.

11. Militarized Police

Obsession with crime and punishment - Fascist society is often willing to overlook police abuses and forego civil liberties in the name of patriotism. Long jail sentences for clearly political offenses, torture and then assassination are at first uncomfortably tolerated, and then start to pile up to become the norm.

Often a national police force is given virtually unlimited power to snoop through the civilian population. Networks of surveillance and informers are employed, both for actual intelligence gathering and also as a means to keep neighbors and co-workers isolated and mistrustful of each other.

12. Elections Stolen

Fraudulent elections - In the disordered time as fascists are rising to power, the electoral arena becomes increasingly confusing, corrupted, and manipulated.

There is rising public cynicism and distrust over what are widely believed to be phony elections manipulated by moneyed influence, obvious media bias, smear campaigns, ballot tampering, judicial interference, intimidation, or outright assassination of potential opposition. Fascists in power have been known to use this disorder as the rationale to delay elections indefinitely.

UC DAVIS PEPPER SPRAYING INCIDENT IS A NATIONAL DISGRACE!

One of Many Shameful Attempts to Destroy Civil Liberties in "Land of the Free!"

Police Brutality Against Peaceful Protesters Is a Bad Sign For This Country!

Our younger generation deserves better than this! We need to protect them, and our rights!

Oh, really?

Please sign this petition demanding UC Davis Chancellor Linda Katehi resign immediately!

FIRST THEY CAME (A Holocaust Poem)

First they came for the Socialists, and I did not speak out --
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out --
Because I was not a Trade Unionist.

Then they came for the Jews, and I did not speak out --
Because I was not a Jew.

Then they came for me -- and there was no one left to speak for me.

- by Martin Niemöller

THIS IS NOT A TIME FOR INACTION. THAT MEANS YOU.

STUDENT DEBT IS A NATIONAL THREAT

2011-11-20T12:49:00.013-05:00

#OWS DAY OF ACTION: NOVEMBER 17, 2011

WHAT AN INCREDIBLE DAY IN NEW YORK

THE TIDES ARE TURNING!

Thanks to all of those who are part of the awakening worldwide.

It is important to remember that the greed and corruption that fueled the collapse of the economy and the middle class, was in part enabled by citizens who were not paying attention, and not taking an active interest in their own political lives and the society in which they live. A lot of damage was done throughout that extended period of complacency. The rise of right-wing fascism is particularly dangerous.

If Occupy Wall Street has one message, it is that those days are over. A sixties-era activist I met in DC said, "My generation fell asleep. We stopped challenging the politicians, and look what happened. You can never do that."

Others from that same generation of activists have wondered where the rage is in this country with all of the severe problems we have facing us, a dysfunctional and corrupt system of government, and incompetent and unwilling leaders.

When would people unite and speak up? When would we stop expecting incompetent, corporate controlled politicians to make things right? Citizens around the world have looked in awe as Americans have just watched the country crumble, wondering if someday people would motivate to fight for their rights again.

Someday finally came- at last.

The following is my personal account of being in New York on November 17th, along with some photos. There are photos of other Occupations I have visited, and attended demonstrations in the past two months. I was inspired by the students in New York City who joined the demonstrations Thursday.

OCCUPY WALL STREET, NEW YORK CITY

It was amazing being part of the OWS protests in New York this Thursday.

I started out by going to Zuccotti Park where people were gathering for the march uptown. We headed up Broadway toward Union Square, where people gathered again for a while.

Things really got interesting after that. The idea had been to return to the area near Zuccotti Park, at Foley Square, and then eventually continue across the Brooklyn Bridge. When the police blocked certain streets, the massive crowds were too much for them to control, so we ended up literally marching in the middle of traffic (and on the sidewalks) down 6th and 7th Avenues, and on other streets as well.

During the whole time, people on the sides of the streets and from buildings cheered us on- and many joined in by leaving school or work to march with us. I never heard a single negative comment (except when people got into it with the cops). The crowd was estimated by police and media to have been over 34,000 people!

One of my favorite images of the day was a group of ballet dancers who were practicing in front of a large glass window at a studio in SoHo when we passed by. They stopped and cheered for the protesters!

Protesters in wheelchairs and others walking with canes were marching too, which I thought was incredible. People in cars honked their horns in support as helicopters flew overhead.

At Foley Square people reconvened as the crowd grew. I had a bite to eat with someone who had camped with Occupy in the park for 3 weeks, and a professor from CUNY who walked out of class with her students to join the protests. The energy of the whole thing was unbelievable.

I continued on across the Brooklyn Bridge. A huge light show was being projected onto the side of the Verizon Building with Occupy messages (like "We are the 99%"), which was really cool. There are videos of it online.

I have seen different things about it in mainstream news, but I never expect too much these days. I know how great it felt to be there for sure and that the movement is building.
BBC, RT, NPR, Rolling Stone, and Democracy Now, have done a good job of reporting on it.

Zuccotti Park

Trickle-Down Theory Did Not Work: Support OWS!

This guy is cool.

Passing "Skank of America"

This sign pretty much speaks for itself, and is right on.

Student Debt IS a national threat!

Ballet dancers in SoHo supporting the march.

People from apartments, stores and offices cheer on the protests. Enough join in that the crowd swells to almost 34,000.

Police and protesters move past the notorious debt-machine, NYU. Many NYU students joined us.

Bail Out Student Loan$!

Whose Homeland? Whose security? Good question.

OCCUPY BOSTON

OCCUPY NEW HAMPSHIRE

OCCUPY BALTIMORE

OCCUPY DC

OCCUPY FORT MYERS

KEEP ON OCCUPYING IN THE "FREE WORLD!"

START SPREADING THE NEWS: OCCUPY NEW YORK, NY!

2011-11-15T13:48:00.007-05:00

QUICK POST: URGENT CALL TO ACTION:

NEW YORK CITY NEEDS YOU!

"LET'S ROLL."

Do you remember how that saying was popularized after the events of 9/11?

It is again time to take action against terrorists- but this time they are greedy corporate sociopaths, and lap-dog politicians.

The ignorant and uninformed citizens who support these criminals (through holding political and social opinions that are contrary to their own self-interests) also have blood on their hands. They need to wake up- big time.

ACTIONS SPEAK LOUDER THAN WORDS

Please continue to follow the situation in New York City today. Things have really been heating up with the Occupy movement worldwide and it's wonderful to see. The disgusting, undemocratic violation of civil liberties by the politicians and police has not been, however.

Stay up to date and strongly consider joining in the large protests planned on November 17th in New York City. We need to keep up the fight! This is long overdue.

More information about the demonstrations on 11/17/11 can be found on the Occupy Wall Street website.

If you can go, do it!! See you there!

WHAT A JOKE: OBAMA'S PROPOSAL IS UNACCEPTABLE

2011-11-03T10:42:00.004-04:00

IT IS SIMPLY NOT GOOD ENOUGH.

Barack Obama announced a "new" plan last week regarding relief for student loan borrowers. There has been a great deal of confusion as to who is eligible to benefit from this proposal if it does ever really go into effect. The proposal is only a variation of an earlier version when President Obama made the notorious statement, "In the United States of America, no one should go broke because they chose to go to college."

The proposal just changes current consolidation options, income caps, and repayment plans for certain students, but will not help many others. It also has some hidden IRS penalties that takes away loan debt and increases tax debt. Most people are unaware of this.

One the positive side, it does reflect that politicians are beginning to look at the issue of excessive student debt in this country, and are listening to Occupy protesters and other activists in this area.

It does not help those in default or in private loan hell. It does not address the cost of education and skyrocketing tuition costs. It also does not deal with the unethical relationship between lenders like Sallie Mae, the government, and the colleges and universities. And it certainly does nothing to address the fact that there simply are not enough jobs for college graduates in the US to support the kind of debt people are getting themselves into- erroneously believing they are making a sound investment.

WHAT WE NEED:

Student loan activism in the US right now is mainly centered around the following ideas. These ideas were discussed in the previous post, but are worth revisiting after Obama's pitiful response to the student loan crisis was revealed.

1. College needs to be affordable. If not free it needs to be close to it. We had a system like this once in this country and other countries have it now. It is possible. The public university system needs to be expanded, and subsidized by the federal government. The student loan system as it stands now hurts students, and helps lenders and university administrators get wealthy. So that system has to go. Private school tuition should only be payable through grants, scholarships, and private funds. That's it. They are not worth the debt in almost all cases. For profit pig-schools like University of Phoenix can take their garbage degrees and get out. The student loan gravy train they have been exploiting has come to the last stop.

2. People need to be able to make a living wage without a college degree. College is simply not something everyone wants or really needs. Vocational and trade schools are great, and they can be expanded as part of the public university system. Minimum wage needs to be increased and society needs to respect all occupations and recognize that people have a right to be compensated and treated decently even in "unskilled" positions. Social attitudes about this have led to too many people pursuing education solely as a means to survive in America. Barack Obama wants a more educated America, and encourages people to go to school, but it costs too much, and there aren't enough jobs.

3. Restore student loan bankruptcy protection. This will not solve the issue of student lending corruption and overpriced tuition. But it will offer relief to those in the most trouble, and it will begin to change the system, as it will show just how over-rated these degrees are. All other consumer debt in the US can be discharged in bankruptcy. This includes million dollar corporations, and gambling debt. It is simply unfair that students don't have the same protection. Bankruptcy is no joyride for people. It is a tough thing to go through, and has many consequences.

4. Forgive student loan debt. The student loan scam is just that. It is fraud. As other activists have said, when debt is fraud it needs to be forgiven. Not everyone agrees with this, but the more one learns about how there came to be 1 trillion dollars in student loan debt in this country, the more likely one is to see that the behavior of the colleges and lenders is criminal- and the government sanctioned the crimes. The way to make it right is to forgive the debt, and leave the colleges, lenders and government to absorb the losses. A variation of the forgiveness plan would be to charge the students flat rates for already earned degrees (ex: $8,000 for a 4-year public university degree) and forgive the rest.

GET INVOLVED:

1. ALL EDUCATION MATTERS is an organization that works to improve the system of higher education and how it is funded, and approaches this from various angles.

2. STUDENT LOAN JUSTICE fights for restoring bankruptcy protection to student loans.

3. FORGIVE STUDENT LOAN DEBT TO STIMULATE THE ECONOMY is lobbying for forgiveness of student loans on the basis that the system is out of control and the lending practices have been deceptive and unethical.

There are many Facebook groups associated with the Occupy movement that provide informative links to all sorts of activism in this area which you can participate in. Momentum is building!

HERE IS A GREAT ARTICLE ON THE CRIMINALITY OF STUDENT LENDING PRACTICES.

THERE'S THE WAY IT OUGHT TO BE, AND THERE'S THE WAY IT IS.

2011-10-24T12:09:00.010-04:00

STUDENT DEBT HAS BEEN GETTING MORE ATTENTION,

BUT WHAT SHOULD WE DO ABOUT IT?

Infographic: The Student Loan Racket

Many of us knew the day would come that more citizens and the media would start wondering about the fact that there is almost 1 trillion dollars in unpaid student loan debt in the US. How did this happen? Why is this happening and what does it mean for this country?

Well, like a sink that is getting backed up with water- it is easier to not notice at first, but as the water starts to overflow and continues until there is flooding and damage in the surrounding area, it becomes more difficult to ignore.

It is a complex problem that can be broken down somewhat simply however:

The federal student lending program that was designed to initially help students has done just the opposite. Because the government secures student loans (it will pay them if the borrower does not) there is no risk to the banks in lending students money.

As such, universities are guaranteed payment, and tuition rates at all schools have skyrocketed over the years, as greedy lenders and university administrators have continued to milk this "cash cow."

Long gone are the days when you could go to college and pay for tuition and books by working a part-time, or even a full-time job. It is not just a matter of budgeting or choosing a less expensive school either. College is unaffordable for most without borrowing money. And there is plenty of money to be made in the lending of that money!

The colleges and administrators are taking advantage of this system as well, because their funding is essentially controlled by their own admissions process and the tuition rates they charge. Easy-to-get, federally backed loans go directly to the schools for payment (which they determine), and the lenders take the interest and fees and are guaranteed the funds.

The recipe for disaster was worsened by the fact that our society and culture encourages the pursuit of education as a means to achieving a decent standard of living and better employment opportunities. This idea is repeated over and over, and no other viable options are really presented to American children.

"Going to school" or "going to college" is seen as the standard by most. As such, people are willing to borrow for something they feel they need, believing that it is a good investment and they will be able to pay the money back. "Financial experts" have for years been supporting those decisions calling student loan debt "good debt" and saying not to worry about it, as college graduates will make over a million dollars more over their lifetimes to pay it back, and have better quality lives, too. Not true.

Education for the sake of being more knowledgeable and learning to think critically is invaluable for those who value those components of a meaningful existence, which of course not everyone does. And certainly there are decent jobs which require advanced degrees. The idea of education is not the issue, but rather the marketing, the cost, and the financing of it.

Many college graduates struggle to find decent jobs that pay enough just to manage day to day living expenses, let alone their huge student loan payments. This is true as well for advanced degree holders, and in recent years, especially lawyers. All of this is compounded by the fact that wages have stagnated for about thirty years in the US, and little has been done to develop an innovative, competitive job market here. So we have a young generation that is in more debt, with a higher cost of living, and fewer job prospects than ever before. Some try to argue that this is not true, or just a temporary problem, but the statistics don't lie.

Of course you have examples that are contrary to all of this, but that anecdotal evidence doesn't speak for the general trend that has become very threatening, and was built on extremely predatory practices to begin with. The ignorant tend to take the approach that students are at fault here, but that is not correct. These people do not understand the full extent of what has happened, or recognize the implications for society as a whole. Rather they bask in their ignorant self-righteousness while defending the very the institutions that will happily screw them or their loved ones out of a chance for a progressive future.

Many students deeply regret going to school and taking on student loan debt, but once thought they were doing the right thing and that it was worth it. They did not have the life experience or financial skills to realize how detrimental these loans would be. They acted in good faith on the information they had been told about the value of education and securing a good job.

Some went to private schools that were more expensive than a state school or community school. They though these expensive schools provided opportunities that were worth the extra debt, only to realize later they had been fooled big time. State institutions are no bargain these days anyway, and much of the debt students are in come from attending them.

A LITTLE LESS CONVERSATION, A LITTLE MORE ACTION

POSSIBLE SOLUTIONS TO THE STUDENT LOAN CRISIS

A lot of ideas are circulating about this impending avalanche of unsustainable student lending. Here are a few to consider.

1. STUDENT LOAN FOREGIVENESS. A "bail out" for students. This one time amnesty program would help a lot of people, but it wouldn't address the unsustainable higher education lending scam. The more one learns about the predatory, subprime nature of student loans, the more likely they probably are to support forgiving them. The system would still have to be fixed however, where students could get an education without being in debt for life, or have viable alternatives to attending school just to try to make a decent living in this country.

2. RESTORING BASIC CONSUMER PROTECTIONS TO STUDENT LOANS. AKA: Allowing student loan debt to be discharged in bankruptcy. This makes a lot of sense. Right now, student loans can not be discharged in bankruptcy. Gambling debt and credit card debt can be though. If student loan borrowers had the same sort of protection other debtors do, lenders might not be so inclined to over lend money to them. Further, for those in the most trouble now, there would be a way out. This solution, of course, would be best in connection to a complete overhaul of the higher education system.

3. DEGREE EXCHANGE PROGRAM. Wish you didn't get that social work degree at Boston University for $37,000 a year? Of course you do. What were you thinking? You never should have been lent that money in the first place. You were naive and taken advantage of by predatory lenders and greedy, dishonest administrators. Exchange that degree for the equivalent from your state university, and be responsible for the state school tuition only. The university, lender, and government can split the difference.

4. DEGREE RETURN PROGRAM. Regret the whole thing? Really feel like you were ripped off? Return the degree. Get your money back. Under this program, you wouldn't be able to "use" your degree on your resume (and it would be illegal to, as it you would no longer actually have it). For the "education" you did receive a percentage of overall tuition could be charged to you. Example: total tuition $80,000. You pay $4,000 (5%), and it's over. When schools have to start reporting how many degrees are "returned" it will be harder to sell their bunk programs.

5. PARTIAL DISCHARGE. Feel like you owe for the housing and meal costs at school and some of the tuition, but that overall you were taken advantage of as a young student and your education was way overpriced? Students could file to have "their case" reviewed by the courts to have a more reasonable debt responsibility assessed, and the rest would be discharged. Much of the debt accrued has never had any real potential for being repaid, because the job market and salaries don't support it. It's a scam, and lenders have known it all along. It's just that people are now waking up. People aren't looking for a "free ride", but don't like being ripped off either.

6. EXPAND IBR. Income Based Repayment is a program available now to those in certain fields. A percentage of your salary determines your loan payment and after 10 years the loan is forgiven. Simply make that available to everyone. 10 years and 5% of annual salary should be enough to pay back an education loan. If not, the rest is discharged.

7. EXPAND THE STATE UNIVERSITY SYSTEM USING THE ORIGINAL CALIFORNIA STATE PROTOTYPE AS A MODEL. The goal should be affordable education, without borrowing money. Tuition should be based on what students could reasonably afford, and the rest would be subsidized through the tax system. Fine and heavily tax predatory lending institutions and use that money for developing this system. Private school tuition would have to be funded by scholarships or private funds, but not student loans!

8. GET RID OF THE FEDERAL STUDENT LOAN PROGRAM. It has been exploited by the greedy banks and college administrators to the point of obscenity. Education needs to be affordable and accessible not an exploitable commodity that creates an indentured class of citizens.

What are your thoughts?

A THANK YOU TO OCCUPY ACTIVISTS!

2011-10-19T13:54:00.004-04:00

A SPECIAL THANK YOU TO THOSE WHO HAVE GOTTEN OFF THEIR ASSES TO DO SOMETHING ABOUT THE DISASTER THIS COUNTRY HAS BECOME, AND FOR CONFRONTING THE DISGUSTING PIGS WHO HAVE MADE IT THAT WAY!

THANK YOU FOR SHINING THE SPOTLIGHT ON STUDENT DEBT!

YOU ARE ALL AMAZING.

LET'S KEEP UP THE GOOD WORK!

The following videos are incredible:

Not involved yet? You can be. You should be. Do it.

ON THE GROUND IN DC: OCCUPY MOVEMENT GROWS

2011-10-07T17:10:00.025-04:00

COME OUT, COME OUT, WHEREVER YOU ARE!!

People worldwide are awestruck at the fact that American citizens have allowed the government to destroy the country and the lives of so many of it's citizens.

To be sure, there have always been problems here- and abroad, and US foreign policy has been a primary source of much conflict.

But the Wall Street piggishness and corporate hijacking of the US government has been an especially disgusting occurrence, and one that is extremely worrisome and undemocratic. It has evolved into something intolerable- at least to the 99% who are affected by the greed machine.

And now people are beginning to speak up- and to fight back.

The emergence of jack ass losers like Sarah Palin showed us the appalling extent of the vast pools of ignorance we have here in the US.

But the emergence of Occupy Wall Street shows that the progressive people of the country are in fact paying attention, are really pissed, and are no longer willing to stand by and HOPE for CHANGE.

WE HAVE WAITED LONG ENOUGH.

Several Spanish-language channels were at the protests in DC this afternoon, as well as a Japanese news crew. RT was also there, and the author of this blog was interviewed by RT's Alyona Show (clip: 10:46-10:51) about the American War in Afghanistan. The show aired 10/08/11.

We also discussed the student debt crisis off-camera. The Wall Street Journal even referred to the spreading protests on their front page.

Here are a few other images from DC:

Military Industrial Complex

THANKS, KEITH!!!

THE STUDENT DEBT CRISIS IS GETTING MORE ATTENTION!!

What are some ways we could further the student loan reform agenda now that people are waking up?

RAGE AGAINST THE MACHINE!

2011-09-26T07:48:00.003-04:00

Civil Unrest Brewing in the US: Occupy Wall Street Protests in New York City

If corporate news (i.e. the major networks) is your main source of information, you probably have heard little about this, but the protests against capitalism-gone-awry in New York City are a big deal, and very meaningful.

If you can attend the protests, please do. You can also support the cause by checking out the website.

Change happens on many fronts. Political demonstrations still have an impact- but we must stay with it. Be part of it.

Student Debt Emergency will be heading to NYC for Occupy Wall Street and to DC (for the protests planned there beginning October 6th).

What do you plan to do?

OH NO SHE DIDN'T...

2011-09-21T10:25:00.010-04:00

WHAT A LOAD OF HORSESHIT!

The propaganda machine continues to churn out these ridiculous, and dangerous gems. The selling and marketing of education has been as much a part of the student debt crisis as the lending corruption, theft, and federal financing of loans- which led to extortionate tuition increases.

Perhaps this corporate robot-woman really does skip and whistle with glee on the way to her office cubicle each morning. Maybe she is just another sociopath- shamelessly promoting a scam of epic proportions. Either way, there is something really revolting about the message and marketing strategy here. Disgusting.

CONFRONTING THE PIGS IN THEIR OWN PIG PEN!

You Go- New York City Protestors!

Please read about and support the growing movement in this country to battle the political impotence and infrastructural deterioration caused by the corporate hijacking of the US government and media.

HUMAN NEEDS NOT CORPORATE GREED!

October Demonstrations Coming to Washington DC. Learn more. Be there!

STUDENT DEBT RELIEF. NOW!

While allowing the discharge of student debt in bankruptcy won't fix a broken, for-profit educational system- it could help a lot of people who were financially ruined by pursuing higher education. Further, by putting some risk in student lending, the unethical free-for-all that the lender pigs have exploited so severely would begin to change.

Check out this Facebook page and follow their simple steps to demand changes to the bankruptcy code, so student loans could be discharged.

Hey, if Donald Trump can file for bankruptcy...

What have you been doing to support changes in the educational/political system lately?

GRAB YOUR AIR SICKNESS BAG...

2011-08-18T18:16:00.004-04:00

A few planned discussion topics for this blog have regretfully been delayed for various reasons, but will resume shortly. Thanks to all who have contributed ideas for these upcoming posts.

In the meantime...

While reading this article from an Asian business magazine, I couldn't help but notice the striking similarities between this scam in Korea involving the flight attendant profession, and the higher education industry here in the good ole USA.

What do you think about this?

DO THE RIGHT THING

2011-07-27T10:38:00.003-04:00

Becoming informed and taking action is essential in the battle against corporate crimes in America. This link will take you to a Facebook page set up to organize support for restoring standard consumer protections to student loans (being able to discharge them in bankruptcy).

Please support their efforts. They have made it easy to contact your representatives in just a few minutes or less.

Discharging loan debt is not the only solution to the crisis, but it is a major step, and offers relief to the most severe cases, where lives are literally being ruined. If gambling debt, and all other types of debt can be declared in bankruptcy, why should student loans be excluded?

Please take action. On the most basic level it shows politicians that this issue is on the radar, and people are getting pissed.

If your school belongs on the "DEBT REGRET SHIT LIST" featured in the right column, please let us know by e-mailing this blog. Your name will not be used- just provide the name of the school, year of graduation/withdrawal, type of degree, amount of debt owed, and an optional comment. If you regret your debt tell others so people can avoid the same mistakes. It is not just complaining. The real picture needs to be made clear to potential borrowers.

In the coming weeks, particular degree fields and how they relate to the debt crisis, will be featured here. Information is still being gathered to present it. If you have any other ideas about particularly rancid academic/career investments let us know.

WHAT ACTIONS CAN WE TAKE TO HELP PEOPLE AVOID MAKING BAD DECISIONS ABOUT ATTENDING SCHOOLS AND TAKING ON OPPRESSIVE DEBT?

"IN THE UNITED STATES OF AMERICA, NO ONE SHOULD GO BROKE BECAUSE THEY CHOSE TO GO TO COLLEGE." -Barack Obama, Jan. 27, 2010

2011-07-19T11:05:00.006-04:00

BUT WE ARE, OBAMA. BIG TIME! ARE YOU LISTENING?!!!!!!!!

In fact, "to go broke" implies that you actually had some financial assets which you have lost. For many of us, our student loan debt will keep us from accumulating any "extra" money to go broke with. Perhaps a more accurate statement from President Obama would have been, "In the United States no one should be in excessive debt because they chose to go to college."

AND NO ONE SHOULD GET RICH BECAUSE STUDENTS WANT TO GET AN EDUCATION!!!

It is obvious to some, but clearly not to enough people, that any system which allows lenders and college administrators to become obscenely wealthy off of money lent to students for ever-increasing tuition and basic degrees, is a corrupt system. The marketing and manipulation to perpetuate this cycle is shameless and immoral.

In the past ten years the top two "executive" criminals at the notorious Sallie Mae have taken home over 400 million dollars in "pay"- all from student loans! This is not how the federal student lending program was designed to work in this country. There are plenty of others milking this gravy train for all it's worth, all while graduates struggle to find work and repay loans, and families worry about the rising cost of education.

GOT DEBT?

In a previous post, submissions to the "DEBT REGRET SHIT LIST" were requested from readers. Some have been received, and will be posted on this blog shortly. The format is being changed so that the student's name is not going to be on the list now, but just the school. So it will look like this:

Boston University, MA Clinical Pyschology, 2007- DEBT: $60,000
"Definitely not worth it! Don't do it!!!"

If you regret attending a certain school and the debt you accumulated (or are accumulating), please let others know by leaving a comment on this blog or e-mailing: paul.small2007@gmail.com. Your name will not be used. If you see your school listed already, submit it again. There is no limit as to how many times a school can be listed.

Just provide the following information:

1) Name of the school
2) Your degree
3) Year of graduation (or withdrawal date)
4) Amount of debt owed for this degree
5) An optional comment that relates to the school or your debt

Thanks for your help. This information is a help to people who are currently about to overborrow for an overpriced education, and sink themselves into debt.

It will also help in the preparation of an upcoming series on this blog examining various fields of study, and the correlation of debt and realistic job prospects. Thanks to those who have provided information for this so far. Those posts will be coming this summer.

GET INVOLVED NOW! RESTORE BANKRUPTCY PROTECTION! CLICK HERE!

If you had it to do all over again, what would you do differently in regard to borrowing for school?

KOOL AID KIDS

2011-07-11T10:29:00.007-04:00

DID YOU DRINK THE "HIGHER EDUCATION KOOL AID" AND NOW YOU WANT TO THROW UP?

If you are deep in debt and/or regret about your undergraduate or graduate degree- let others know! It is important to spread the word to help people understand what extreme peril they place themselves in when they over borrow for school with the belief they are making a wise investment in their future.

Send an email to this blog with the the following information:

Your First Name, Your Last Initial, Your School, Your School Location: Your Degree and Year of Graduation (or Withdrawal Date). Put an optional comment about the debt, your current occupation, or advice about attending the school.

EXAMPLE:

Paul S., Boston University, Boston, MA: MA Clinical Psychology 2007.
"Over 100K in student debt and working as a waiter. Wish I never went back to school!"

These entries will be listed on this blog under the Debt Regret Shit List. Help warn others! Let them know! We know the schools and US government are doing nothing to protect uninformed potential borrowers!

Contrary to what scam blog critics say, our efforts are not just whining about personal current circumstances, but rather to help others avoid the harmful trap of paralyzing student loans. These critics have a difficult time grasping that because of their self-serving social orientation which only understands life through the lens of self-interest. Advocates wish to change the corrupt system for the benefit of all students. This system is not working, and no one can effectively argue that it is at this point.

CHECK THIS ARTICLE OUT:

I WANT MY MONEY BACK!!

Please contribute to the DEBT REGRET SHIT LIST or feel free to leave a comment. Would you get a refund on your degree if you could?

"POWER CONCEDES NOTHING WITHOUT DEMAND...

2011-06-30T14:25:00.010-04:00

...IT NEVER DID AND IT NEVER WILL." - Frederick Douglass

PULLING OUR HEADS OUT OF THE SAND

Remember, the people (greedy sociopaths and criminals) who created and/or changed the (student lending/higher education) system know how to work it and manipulate it to THEIR ADVANTAGE. It's been happening for years, and many of us had no clue what was going on, and how bad it was getting.

Our only chance at fixing this horrible situation is waking up, becoming informed, and taking action. If you are reading this blog, then there is a good chance you are at least are doing the first step. KEEP GOING!

Information and commentary is rapidly expanding on the student loan crisis- which is a good thing. But far too many people are unaware of the severity of the corruption in student lending that is strikingly similar to what happened in real estate.

The following post comes from the Medicinesux blog, and was posted a year ago. Still relevant, and still scary! Thanks, Medicinesux, for bringing it to our attention.

“Until recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong. The for-profit education industry has proven equal to the task.” -Steve Eisman (renowned hedge fund manager who called the housing market collapse)

I have been preaching for almost two years now how the student loan crisis is shaping up to be one of the most catastrophic financial disasters to lay assault on this country. And it is. Education in America has been hijacked by a cartel of banking thugs and administrative wolves cloaked in sheepskin all in cahoots with the US govt. Though the media has SLOWLY been picking up on this issue, our govt continues to sleep behind the wheel (surprising?). I have done quite a bit of research on this very topic and have quite frankly been blown away by all the disgusting corruption and greed that goes on behind the curtain. Everything from former for profit college lobbyists now working at the Dept of Education to recruiters drumming up warm bodies at homeless shelters to the University of Phoenix’s impressive 4% graduation rate for online students is enough to make my head spin in utter disbelief.

Today in France the youth are protesting in droves after the govt proposed raising the retirement age from 60 to 62. I can only imagine how they would react to our student loan situation! We should be in the streets going ApeSh!t over this. Check out the graph above and see for yourself how this bubble is inflating beyond belief. It makes the recent housing bubble seem like a mere blip! Scary graph indeed!!! (from Medicinesux).

ANOTHER GREAT BLOG: American Student Loan DEBT Crisis

This blog site hasn't been updated in a while, but it provides great links and information. The author also reiterates THE VITAL IMPORTANCE OF RESTORING STANDARD CONSUMER PROTECTIONS TO STUDENT LOANS!!

WHAT THE HELL IS GOING ON?

This book by Alan Collinge, provides an excellent explanation of the student loan crisis and how it came to be. You can not argue with these facts. If you know something is not right in the world of student lending and the cost of education in this country, but you can't quite explain it (or even fully grasp it yourself)- this book will help you become more informed, and want to get more involved. It's worth the money. Get it today!

HOUSTON, WE HAVE A PROBLEM (BIG TIME)

From: The Best Colleges

Infographic by College Scholarships.org

Uploaded with ImageShack.us

What are some of the things you have learned about student lending and higher education that have made you angry? What are your thoughts on doing something about it?

BY ANY MEANS NECESSARY

2011-06-25T00:33:00.005-04:00

The student loan crisis is a serious one- a very serious one. Although it continues to gain more attention from the media, the government is doing far too little- almost nothing, really- about it. That is why it is so important that people are beginning to speak out on this topic. Even those not directly affected by unmanageable debt should be concerned about the problem, as it ultimately impacts all of society and the economy in significant ways.

People need to take action. This is already happening, and as time moves on, this action will undoubtedly increase. We all have ideas on what we might like to see going forward- but we have to stay grounded. Anyone who is considering harming themselves in an act of civil disobedience should please refrain from doing that.

The riots and protests in the Middle East this year inspired many people who had felt that citizens can never bring about true change. But they can. They can, and they have, and they will again. We can change things. But we have to fight and not harm ourselves in the process.

It is no doubt a very depressing state of affairs in this country these days. The despair this can cause is a great catalyst for taking action. But if you are feeling severely depressed, or if the action you feel like taking involves harming yourself, or someone else, then please seek some help. PLEASE CALL THE NATIONAL SUICIDE PREVENTION HOTLINE AT: 1-800-273-TALK (8255). It is free and confidential. There is no shame in feeling depressed or suicidal. Everyone has their issues.

THINKING ABOUT HOW TO MAKE A DIFFERENCE: ACT UP

When the AIDS virus first started to appear in the early 1980's, politicians didn't even want to discuss it- let alone take action to address the crisis. Ronald Reagan was notoriously ignorant in regard to AIDS. His world view did not include concern for a disease that primarily was affecting gay men and intravenous drug users.

How then did AIDS end up receiving so much attention and funding for research? How were medicines eventually developed that turned an AIDS diagnosis from a death sentence into a chronic, manageable health condition? How did social programs to help AIDS patients and fight discrimination come about?

PEOPLE DEMANDED ACTION, AND THEY GOT IT...THAT'S HOW!

AIDS activism of the 1980's and 1990's shows us what happens when people demand action to a crisis. ACT UP was a particularly controversial activist group, but they got their message out there, they demanded change, and they were instrumental in getting it.

Maybe this is an activism model the student loan movement can borrow from. In any event, we must demand change; and we will likely have to get political attention in some unconventional ways. Apparently 1 trillion dollars in student debt, the worst job market since the Great Depression, and soaring tuition costs isn't enough.

What ways might we get politicians to listen up? What ACT UP-style protests from the past might work for the student loan movement now?

NOW IS THE SUMMER OF OUR DISCONTENT

2011-06-22T23:41:00.012-04:00

LET THE GAMES BEGIN

The previous post briefly discussed the growing student debt advocacy movement, and how it has been influenced by the law school "scamblog" sites in recent years. Through their writing, these scambloggers- law school students and graduates- have illuminated a severe problem in this country: greedy and dishonest institutions fleecing America's new generation of students and professionals, and hastening the destruction of the middle class. Now it is time for others to speak out as well.

THE LAW SCHOOL SCAM EXPOSED

Essentially, new, unnecessary law schools have continued to open, thanks to the unconscionable accreditation "standards" of the ABA (American Bar Association). These "law schools" charge exorbitant tuition, leaving many graduates with six figure, undischargeable student loan debt, not including any undergraduate loans. To make matters worse, the employment market for new lawyers is not only down because of "the economy", but it has changed permanently due to advancements in technology, and the outsourcing of American legal work to foreign countries.

Many law school graduates can not find legal jobs, and have difficulty gaining employment in other fields because of their advanced JD degree. The false reporting by US News and World Report, as well as the various universities themselves, has misled many prospective students regarding the realities of post-graduate employment opportunities. The ABA and some "law schools" are KNOWINGLY OVERSATURATING THE LEGAL MARKET with graduates that will likely NEVER FIND EMPLOYMENT IN THE LEGAL FIELD, and misleading and harming students who will struggle seriously with their student loan debt for decades!

This problem is not only experienced by students of lower-ranked schools (better known as Third Tier Toilets), but from "better" schools as well. Either way, it is an unacceptable situation being fueled by extreme greed on the part of the part of the ABA, the universities, and the lending institutions. Some people are getting extremely wealthy from this system of "education"- and it's not the graduates.

THE REAL LAWYERS OF ORANGE COUNTY

Check out this recent Craig's List job posting for an administrative assistant job seeking law school graduates- in case you have any doubts about the changing nature of this profession!

SAD BUT TRUE: THE LAW SCHOOL SCAM MADE SIMPLE

ANSWERING THE CALL TO ACTION: A LIBRARY OF INFORMATION

Recently this blog called on subprime advanced degree holders from other fields to speak out about their experiences with loan debt, misleading marketing information on the part of their schools (as well as other sources), and the current realities of employment with their degree.

The first response came in regarding the MLIS degree (Master of Library and Information Sciences), and it appears to be rife with some of the same sort of corruption we have seen in the law $chool bu$ine$$. This will be the first degree to be explored in a series on this blog called SUBPRIME DEGREE EXPOSÉ. This series will begin in July, and will be followed by similar posts about subprime degrees in other disciplines.

AN OPEN CALL, A CATTLE CALL, A STANDING INVITATION

There is a movement to take on student lending corruption, and if you are a victim- and there are many of you out there- BECOME INFORMED AND SPEAK OUT! Tell us about your subprime degree. You can contact this blog at paul.small2007@gmail.com. If you prefer, just leave a comment below this post. If you are so inclined, consider writing a blog of your own or becoming involved in another way.

STOP THE INSANITY

The student lending crisis in America needs to be further exposed, and relief for those who need it must be demanded. Young, naive students should be protected from falling into the trap, and being ripped-off. Changing the higher education system so that it is about (affordable) education for students and not higher (undeserved) salaries and bonuses for corrupt, greedy, pigs in university administration, or the $tudent loan companie$, etc. has to happen.

WHAT EXACTLY IS A SUBPRIME DEGREE?

The term subprime lending is widely used in describing the types of loans that led to the collapse of the US housing market three years ago- which had a ripple effect in the global markets, and has devastated the lives of many people and their families. It basically refers to making loans to people who are thought to have potential difficulty paying back the loan, and as such they are given less favorable lending terms and interest rates. Due to lack of government regulation (deregulation), criminals masquerading as businesspeople actually have devised schemes to profit off of borrowers who end up defaulting on their loans.

Mortgages and student loans are different in ways, but both can be subprime. Students are regularly allowed to borrow to the max to finance degrees presumably to pursue a career in that field. Many students borrow large sums of money without fully realizing the degree they are borrowing for may not help them get any job that pays enough to pay back the loan.

$100,000 in debt to become a social worker? $90,000 to study film? How about a BS in history for $65,000? Sound like a good ideas? Hmmm... probably not. But, young, naive students do it all the time, not fully understanding the serious ramifications this will have on their future.

POTENTIAL SOLUTIONS TO THE CRISIS

Opinions on how to approach the student debt fiasco in America are mixed, of course. The problem is systemic, having been influenced by various areas of politics and culture over the past couple of decades. The debt crisis will not go away by itself, and student loan defaults are increasing. The media is covering the story more frequently, and a simple Google search will reveal this- from The Wall Street Journal, The New York Times, and even the foreign press.

Perhaps the single most important change that must be demanded from politicians is the return of standard consumer protections to student loan debt- meaning that this debt can be discharged in bankruptcy- like all other types of debt. Currently, student loan debt is the only type of debt that can not be discharged through this process. Credit card and gambling debt- no problem. The Student Loan Scam, by Alan Collinge is an excellent source of information regarding specifics on this topic.

By allowing this change in The US Bankruptcy Code, the most severe cases of harmful, unmanageable debt could be offered relief. But it would also begin to change the extremely profitable, and corrupt system of overlending to students!! If you don't already know this, LENDERS MAKE EVEN MORE MONEY WHEN A BORROWER DEFAULTS!

Sallie Mae loves it when someone decides to go to a third tier toilet law school, or an expensive private school to get a degree to prepare for a career in an underpaid profession, like teaching or social work. But, if lenders know that bankruptcy is an option for the overburdened borrower, they may not be so quick to let an 18 year-old get in over their head financially for a liberal arts degree at their "dream school."

Restoring these protections is an essential first start, but that alone will not be enough. Other solutions will be mentioned in the next post. What are your thoughts on solutions to the debt crisis?

A CALL TO ACTION:

2011-06-16T00:12:00.009-04:00

ATTENTION ALL:
MDs, MBAs, MAs, MLISs, MSs, MSWs, MSCJs, MPAs, MPPs, MFAs, and PhDs:

Each passing day the student debt crisis becomes more serious. But like a virus with a long incubation period, it is not immediately obvious, and is often disguised by symptoms of other illnesses. Why this is, and how this came to be, has been the focus of much discussion in recent years- and in fact, a movement has started to expose this issue for what it is: a greed-based scandal that is going to create further economic turmoil in this already hurting country.

The intention of this, and other blogs, is to explore the nature of the student debt crisis in America and to bring about change by demanding our politicians take action! It is extremely important that any and all who are affected by, or concerned with, the student debt crisis begin to educate themselves and speak out.

SCAM BAM, THANK YOU MA'AM

The law school scam blog movement has been instrumental in exposing some of the fraudulent horrors in the legal education industry, the corruption within the ABA, and it's incestuous relationship with US News and World Report. These blogs, as well as blogs like All Education Matters, have done an incredible service in exposing the fraud that is leading so many young citizens to make unwise "investments" in education, and to seriously impact their lives negatively for years and years to come.

It has been law students and lawyers who have spoken out most notably thus far. However, what they have discussed is essentially the one area they are most familiar with: law school. Law school has definitely become a racket and a scam in this country, and it continues to get worse. But the corruption in the law school business is part of the larger STUDENT LENDING SCAM that affects an even larger group of students. This is a systemic problem.

SUBPRIME DEGREES: ADMITTING IT IS HALF THE BATTLE

Again, the exact nature of student lending corruption, and what we need to do about it requires more time to discuss. I currently am reading The Student Loan Scam, by Alan Collinge, and it truly makes my blood boil. I highly recommend it as a great way to become informed on the topic.

BUT NOW YOUR HELP IS NEEDED!! If you hold an advanced degree ( MDs, MBAs, MAs, MLISs, MSs, MSWs, MSCJs, MPAs, MPPs, MFAs, and PhDs), and your life has become unmanageable because of the debt you acquired to pursue it- PLEASE SPEAK OUT. Please contact me at paulsmall2007@gmail.com, or visit these blogs: All Education Matters or Third Tier Reality and message their respective authors.

AN EQUAL OPPORTUNITY DESTROYER

Of course, the student debt crisis affects many different people, and their families- from community college students to medical school graduates- and all are equally important. The student lending fiasco ultimately has to be addressed across the board. However, advanced degrees have become increasingly lucrative for universities (and therefore lenders as well) as more and more people with a bachelors degree find it "necessary" to go back to school in order to get a "good job." The student debt relief movement needs people from various backgrounds.

If you went to school to be say, a social worker, and are embarrassed that you accrued $100,000 in student loan debt- don't be, and don't let that keep you from speaking out. There are plenty of people in your shoes. The total national student loan debt amount is approaching 1 trillion US$!

It is important to get some information on various cases across different fields of study, to understand the scope of this. Essentially the student loan industry is getting extremely wealthy by over lending to the misinformed, and unduly optimistic, and now we are facing grave consequences as a society. Not to mention, many of us took on our debt before or during the Wall Street Rape of 2008- drastically changing the economic landscape we now find ourselves trying to function in. Please speak up and let us know your story. If you are suffering from student loan injustice- you are not alone. Help is mobilizing.

ASK NOT WHAT THIS COUNTRY CAN DO FOR YOU- ASK YOURSELF WHAT THE HELL IS GOING ON IN THIS COUNTRY?

2011-06-13T14:06:00.024-04:00

Last week a SWAT team stormed a California man's home and detained him and his three children because his estranged wife had reportedly defaulted on her student loans (see story here). To many people this seems like an absurd and completely outrageous scenario. Some I spoke to about the story didn't even believe it, and had to look it up for themselves to realize it, sadly, was in fact true. This incident however, reflects a growing crisis in this country that is systemic in nature and has been increasingly exposing it's corrupt origins.

The American student debt crisis is real, and it is far more serious than a generation of "entitled" borrowers "whining" about their student loan debt- as some uninformed critics have suggested. In essence, the old formula of education being the key ingredient to economic and personal success is no longer working, and it is not just a matter of waiting out a "bad economy."

Many graduates are finding their lives are seriously impacted by the amount of money they borrowed to finance their education, and are coming to deeply regret their decision to ever go to school in the first place. This is true across various backgrounds and areas of study. This idea seems to be in stark contrast to what most of us were presented with throughout our elementary and high school years- that education was the way to get ahead in life. Later we were told by financial "experts" that student loan debt was "good debt" and not to be concerned with it- it's an investment in the future. Yeah, it was an investment in the futures of the people who have gotten rich exploiting our idealism and naivete, and belief that "buying" an eduction was worth it and the right thing to do.

We are not talking about individual debt of a couple of thousand dollars here, and having to scrap plans to go to the Caribbean next winter, or getting a job on the weekends to pay it off. Many students graduate with unmanageable, crippling debt loads, that will impact them far more than they had ever anticipated- changing the course of their entire lives. Is this what we want for this country?

THE STUFF THAT KAFKA DREAMED OF

The student loan crisis is both simple and complex. We have a situation where the US government has increasingly failed to invest in the national infrastructure (and protect young citizens) by keeping education affordable to those who want to pursue it, and providing decent alternatives to those who prefer to make a living that does not require significant advanced education. Predatory lenders and institutions have supported and marketed third tier garbage pit law schools, worthless for-profit schools, and overpriced, unnecessary private schools. The cost of a public education is unreasonably high now as well.

At one point, not all that long ago, it seemed that the US was on a progressive path in terms of higher education accessibility, but then the usual suspects of corporate greed and political corruption hijacked the whole thing sometime in the 1980's. The insatiable greed really took off in the 1990's and has continued to this day. Now, however, the drastic effects are reaching a crescendo.

Unfortunately students and their parents are learning the hard way about the specifics of the student loan/higher education scam. The little known facts behind student lending, university kick-backs, Sallie Mae, education propaganda, among many other things, are enough to make a person wonder if they are going insane. The details are so galling and absurd it defies comprehension.

THIS IS A STORY ABOUT CONTROL

This blog is an effort to join others in the online community who are seeking to expose the corruption in higher education and student lending, and to fight for change and relief for borrowers who are in trouble, or are soon to be. In doing so, we seek to expose the rancid roots of this crisis for what they are: unjust and corrupt. Things have been out of control long enough. We need to act.

Because of the complex nature of the specifics of how we came to have 1 trillion dollars in student loan debt (at at time where we have the worst economy since the Great Depression), and how the corrupt lenders and administrators of "educational institutions" have gotten unbelievably wealthy, as the middle class has dwindled, and the educated have become indentured servants- it is going to take time to explore this in further detail, and present ideas for solutions. BUT YOU ARE NOT POWERLESS AND CAN START TO FIGHT BACK NOW!

You can and should begin educating yourself on the subject of the student lending scam and the pimping out of higher education right away. You can do so by following this and other other blogs dedicated to the topic. There are other resources suggested in the column to the right as well. Encourage friends and any others who might be interested to do the same. Ultimately this situation is affecting society as a whole. Gaining awareness is the first step in taking action. You can participate in discussions with people on the topic.

Do not feel you have to be an expert overnight. It is hard to deconstruct all of this: the FFELP program, PLUS loans, IBR, subsidized, unsubsidized, private loans, Sallie Mae, extended repayment, standard consumer protections, etc., etc. It is just important that people become aware, so as this movement continues to grow and pick up momentum, it has informed advocates demanding change. Learning about this is a work in progress, and something many of us probably have little time for. BUT if pursuing an education has affected your life in an adverse way- you really can not afford not to get involved. Things are not right in this country, and a foul stench is coming from the student lending and higher education industries. Get informed, get involved, and help fix this mess!!