A non-profit organization dedicated to the eradication of all student loan debt through activism, education, and legislation; because student loan debt is dangerous to the US economy and to the health and well-being of individual Americans and their families. CRYN JOHANNSEN, Founder & Executive Director
3 comments:
I'd settle for interest rate cuts to what the banks get, as well as their friendly repayment deadlines.
And maybe a small write down, with higher education forced to pay back the government for fraud to make up for those write downs.
We could also negotiate something like that, but I dream big. I really want a debt jubilee, but that would entail an enormous, collective debt strike.
I am feeling positive about the repayment plans for federal student loans. The main problem I see with them is that they offer forgiveness after 20-25 years with a major tax liability. If a person is too poor to afford their full student loan payment, how on earth can they pay taxes on what might be 6 or even 7 figures of forgiven loans? Secondly, something that seems to NEVER receive attention is private student loans... which seem to enjoy almost all of the same protections (for creditors) as federal student loans with none of the safety nets (reasonable repayment plans, deferments, forbearances, etc.) as federal loans. My private loans are almost $1,000 per month. I have been paying on them for 10 years and my balance really hasn't moved.
A student debt jubilee sounds ideal! It looks like you are in Alexandria. I was also in Fairfax county. It's a beautiful place!
B
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