Well, guess what? According to a recent article by Sasha Chavkin in the CHE, it turns out they are backing away from this plan. Chavkin writes, "now nearly six months later, the department says it can't and won't do that."
Makes one wonder what the interest groups are doing behind the scenes. Is the department receiving pressure from the lenders and their lobbying firms, and is that why they are backing off?
It seems senseless and downright cruel that they are unwilling to change this unjust system, especially for the most vulnerable and sick.
Business as usual under an absolutely tyrannical system, I guess.
Related Links
"Illness or injury can cause ‘ruinous’ consequences for those with student loan debt," USA Today (June 21, 2011)
"Education Department Bureaucracy Keeps Disabled Borrowers in Debt," ProPublica (Feb. 13, 2011)
3 comments:
We must keep the pressure on. The banks just want to be able to take 15 percent from disability checks, which is totally unjust and insane. Maybe we should try another tack - lets get a bill sponsored that would raise disability amounts for those who are having their checks docked for student loan payments.
"Business as usual" for an administration that views retrenchment as a virtue, preemptive retrenchment especially so.
More proof that fleeing the USA is probably the only choice.
My student loan debt, which started at 79K in 1997, is over 300K now, and grows by almost 2K a montH or 20K a year.
In 20 years, when my loans are finally discharged by the Dept. of Ed. the balance will be well over 700K, and I will owe income taxes on that over 700K amount.
A mad system.
I hope some politicians are reading this.
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