Posted on 02/12/2020 1:40:04 PM PST by karpov
Sandy Nurse doesn’t see why she needs to be $120,000 in debt “just for trying to improve my understanding of the world.”
And so, after a decade of struggling to repay her student loans, she plans to stop trying. She hopes others will join her, too, in a national strike against the country’s outstanding student loan debt, which is marching toward $1.7 trillion.
“It’s a way not to look at ourselves as failures because we’re failing to pay back an excessive amount of money for knowledge,” said Nurse, who has founded nonprofits and is currently running for a City Council seat in Brooklyn, New York. “It’s a way to share our experiences and to think about how the system is failing all of us.”
Earlier this month, at the University of California, Los Angeles, the Debt Collective, an organization founded by a passel of activists who met during the Occupy Wall Street movement of nearly a decade ago, called on people with student debt to stop paying it. At the event, dozens of people lit their student loan bills on fire.
The group’s goal is to get all private and federal student loans canceled and to make public college free.
Presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have vowed already to wipe out all or the majority of education debt should either make it to the White House. And the proposal has even picked up support from the right as of late.
The country’s unpaid student loan debt has long surpassed credit card debt or auto loan balances, and is second only to mortgages. The average balance today is around $30,000, up from $10,000 in the 1990s.
(Excerpt) Read more at cnbc.com ...
Embrace the “free”dumb.
Well it’s gonna happen. This action is intended to produce a crisis. If it takes off lenders are naturally going to press the FedGov to pay them off rather than get stuck holding the bag.
Or they’ll just vote themselves out of debt the day they become 50.001% of the electorate. Either way I’ve resigned myself to the fact that its gonna happen.
Yeah, get your employer involved in your dead-beat tactics.
Smart move...
Those loans looked pretty good while you were stacking them up.
If they refuse to pay, take it out of their paychecks (if they have paychecks). If they don’t have paychecks, nullify their degree.
Obviously she still doesn't understand the world. If you BORROW somebody else's money yo have to pay it back with interest. Been that way for THOUSANDS OF YEARS.................
Some of us repaid our loans. And we were darned happy to have revived them, too, considering we had no incomes then.
I thought parents had to co sign for loans.
When did that change??
liquidate 75% of our university and college system
seize all endowments
pay off the debts with that
It will ruin their credit score.
Many employers nowadays check your credit rating as part of you background check.
A low credit score is a HUGE red flag...................
The lenders should then immediately stop giving out student loans. There will be an uproar from the Universities.
These youngsters don’t know yet, but if their student loans aren’t paid by the time they hit Social Security, the government will garnish the payments from there.
and build debtors prisons for the deadbeats
And if *that* doesn't work go after the colleges they attended.
The banks holding the notes should adopt a scorched earth policy.
So, she got a crap degree and wants to renege on the payment that she incurred for said crap degree. Her understanding of the financial world is about to begin.
I’m going to hold my breath and stomp my feet until I get a free pony, because I decided I’m entitled to one because reasons.
Basically stealing.
Borrow $120k, major in queer theory, minor in hate whitey, can’t make a living, doesn’t want to pay us back for the money she borrowed. We should forgive this debt why?
Not only that they will NEVER be able to purchase a home!!They will never be able to own a business!!
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