Friday, November 13, 2009

Let's save jobs that help ruin other people's lives!

They're at it again. Sallie Mae and Nelnet are pulling the "save jobs!" card. They've done this campaigning in the past (see my previous post here). It's a well-known fact that Sallie Mae had to stop outsourcing their low-paying jobs when they won a 5-year contract from the U.S. Government. And they pretend to care about jobs and Americans? Are you kidding me? If they could outsource jobs again, they'd do it in a heartbeat.

Here's what I suggest:

a) Not more of the same (that includes minor fixes that don't do a thing) ,but instead a radical restructuring of the student lending industry (i.e., an eradication of these lenders who have a direct lines to the Treasury).

b) Making college, in the very least, affordable again, and helping the people who work for Sallie Mae and Nelnet, the ones in those low-paying jobs in their sad call centers earn an education too.

c) Granting a student loan debt Jubilee - we live in extraordinary times, and that means that people in power who want to help must make extraordinary decisions.

Luckily, their campaigning to "save jobs" has made it into the news, and yet our group of well over 237,000 people continues to be marginalized. I don't get it. I really don't. Here's a few pieces about these great companies and how they really care about saving American jobs.

a) Sallie Mae Supporters Rally To Save Jobs
b) Delaware County Workers Need Your Help
c) Student Loan Reform Should Protect Florida Jobs
d) State Could Lose 2300 Jobs In Student Loan Change

Huh. So, basically they're demanding that we save jobs that essentially help ruin people's lives. Great. I am sure glad we all worked so hard to earn an education to be harassed and held as financial prisoners to these hideous lenders.

Head's up to the Obama Administration - we want to see real change that you promised us! You should care about this problem. I'd like to ask Mr. Obama how his own mother got through graduate school. Luckily, his own children won't have to take out loans like the rest of us lowly types.

Seriously. Enough. Is. Enough. This model only serves the interests of a few people at the top. At least the reporting is balanced, and all these local papers have covered stories about our group and its supporters.



7 comments:

Leni Weisl Ellwein said...

I agree 100%

C. Cryn Johannsen said...

Obviously we don't want people out of work. Many of us are struggling and out of jobs. It's the spin that makes me livid. These companies don't give a damned about these employees.

spencer drew bogart said...

it's as though you've read my mind, but unscrambled all of the muck to make a coherent and eloquently written statement! your suggestions are 100% on target, cryn -- major reform/restructuring is needed from top to bottom. college should be an institution for growth and not an enterprise for profit. even with the minor fixes, i personally don't see the benefits of a college education becoming much more affordable or accessible as it truly needs to be. and without some real change, i can see it getting worse.

even if i could afford to have children and repay my loans, i certainly wouldn't be able to save for their education. to me, that's a very serious problem. i'm afraid i'll have to leave the country before starting any type of family; not because i'm a "deadbeat," but because i would want my kids to have a real opportunity to learn without being sold into slavery at the age of 18 (like their father).

Anonymous said...

I work for a Nelnet company. They are doing their best to save jobs, but the government has forced them to lay people off because they no longer need many departments. Additionally, Nelnet is not only a student loan company so do your homework. My company alone as hired 30% of our workforce in the last 9 months.

C. Cryn Johannsen said...

Anon - I have done my homework, and a lot of it. I know what Nelnet is up to, as I receive hundreds of frantic emails from student borrowers who are struggling to make ends meet. Nelnet is hated by many. If they want to salvage their reputation, they should get out of the student lending business. Moreover, I read some transcripts of a conference call recently and quoted your president. It's obvious why they are involved in the student lending industry - they're making LOTS of money off of students. I encourage you to do your homework. Here's just one of many damning articles about your "noble" company.

http://www.businessinsider.com/jpmorgan-citi-charge-with-cheating-on-student-loans-2009-10

Anonymous said...

Cryn...you are so right. Saving Sallie Mae jobs is like saying we can't discuss payday loan reform legislation since loan sharks will be put out of business.

C. Cryn Johannsen said...

Anonymous - that's a good way of putting it. Thanks.