Ok now correct me if I'm wrong. Wasn't one of the first acts of our Dear Leader the making of student loan debt the equivalent of an IRS debt (i.e. it can't be discharged even by bankruptcy, and you can go to jail for not paying)??? So is occupy going to somehow buy up SallieMae loans and forgive them?
Exactly. From the article:
While the group is unable to purchase the majority of the country's $1.2 trillion in outstanding student loan debt because it is backed by the federal government, private student debt is fair game.While this may be "laudable" that this group thinks it is discharging some people's debt, the fact is the original lenders still report this as defaulted debt subject to collection. The debt is still outstanding and reported as such. All the group has done is purchased the debt for pennies on the dollar from third party collection agencies with no intention of collecting it.