STAY TUNED: Carpenters and Demolishers

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I'm presently writing a fairy tale about carpenters and demolishers in a world that pre-dates Reagan, Thatcher, and neoliberalism. At least that's when it begins, in the late 70s.

It's set in a time long, long ago, when there was still a decent infrastructure in the land where the carpenters lived, people could actually fight for their rights and be heard . . . there was a free press . . . there were politicians who believed in social justice . . . teachers weren't declared enemies of the state . . . public servants did a decent job . . . government hadn't been eviscerated by corporate interests . . .

And carpenters built good, solid homes. It was by no means a perfect world, but possibility was still within grasp.

The fairy tale will be posted on Margins of Everyday Life.

Thomas Hart Benton, "From My Mother's House" (1952)

October 6 - Washington DC

Copyright Notice: If you are not reading this at All Education Matters, and unless I've explicitly given an individual or entity permission to publish my work, this post has been illegally appropriated. Please read original content here. 

If you have heard problematic claims made about my character, please feel free to email me about it (ccrynjohannnsen AT gmail DOT com) and avoid feeding the trolls. 

It would be great if we could coordinate a protest in So. Cali on the same date. If you can make it to D.C., I urge you to attend. 

Borrower Receives Misinformation about IBR from Sallie Mae

A distressed borrower named Amy called me today for help on her student loans. She was very distraught, because she and her husband are having a great deal of difficulty making ends meet. She is unemployed, and her husband is a nurse who travels around the country for work. Amy is also the mother of two children. She home schools them and the family currently lives in Texas.

She and her husband were thinking that it might be best for her to default on her student loans, so she wanted to talk to me about the plan of action. They have medical bills and credit card bills, as well as two growing children to feed.

When Amy and I first got off the phone, she was in tears. I did encourage her to look into IBR as a way to lower her payments. As it stands, Amy has subsidized and unsubsidized loans. Sallie Mae is the servicer of a portion of her debt. Since she has not defaulted on her loans, she is eligible for IBR.

Amy thanked me for the information, and I hung up.

A few minutes later, she called back and was more frustrated.

"They told me that my payments would go down to $105.31 for the first 12 months. However, after those twelve months are up, I was told that my payments would go up to $696 a month."

We were both puzzled. At this point, Amy pays around $500 a month, so how could IBR possibly be helpful if (a) the repayment program only lasted a year after which (b) her payments would shoot up to something even higher than what she is paying now?

"That makes no sense to me," I told her. Since my expertise is not on repayment plans, I told her that I would have to ask some of my sources about this information. Amy was distraught again, and for justified reasons.

I made it very clear, however, that she would be worse off by defaulting. I assured that I would have answers for her soon.

We hung up again.

After I sent out some questions about this situation, Amy called me a third time.

The news was much better this time.

Amy still hates Sallie Mae, but at least she cleared up the confusion about IBR. Here's what she found out:

In order to keep her monthly payments at $106.31, she will need to refile her paperwork with Sallie Mae every year. 

The first person with whom she spoke did not provide her with that important detail! 

Amy is much more relieved. She currently owes around $62,000. The good thing about IBR is this - it lowers your payments, and if you continue to pay for 25 years, the remainder of your debt is then cancelled.

So, folks, make sure you know all the information about IBR before deciding it's not a good option.

Serious Fantasy: The Institute for the Indentured Educated Class

There is this big, somewhat ugly house next to where I am currently living. It has been stripped clean, and the owners have been gone for well over a year. It's a foreclosure. The bank tends to mow it at the last minute, so it's this hideous eye sore in a nice, tidy neighborhood. Every time I walk by it with my dogs, I get really pissed. I have thought about leaving my dogs' shit in the yard, but then I realize that that would be utterly rude to the poor guys who must mow the yard each month. So, I pick up my dogs' shit and curse the bank that owns it. Then I curse a bunch of other banks, as well as politicians . . . by the time I get back home, I am seething. So . . . here's something I'd like to do with that house.

I'd like to buy it, fix it up, and turn it into . . . The Institute for the Indentured Educated Class. Wouldn't that be awesome? We could house a few people each month who were in real dire straights, and then have writers and researchers and scambloggers come and spend time there - it would be a commune. It would help the downtrodden sans pity or paternalistic scorn, and it would inspire people to think about all sorts of issues. It would be a meeting ground for like-minded and concerned citizens. It would be a tiny plot that still represented democracy in a wilderness of decadent, destructive neoliberal shit. It would be great to do it in Texas, for it would show that Texas, like its diverse and ever-changing population, has serious potential for good.

How can we change this serious fantasy into something real?

Quick Post: Victor E. Cilli Arrested and Charge in Student Loan Ponzi Scheme

Victor E. Cilli, 45, was arrested by FBI agents in New Jersey. Cilli, a day trader, is accused of stealing $1.5 million from a Cleveland Bank in a student loan scam. Authorities also say he stole $500,000 from investors. 

The investigation of Cilli's activities has been going on for years.

He has been involved, authorities say, in a number of Ponzi schemes, one of which includes at least 16 other participants.

I wonder if Cilli's door was broken down like Wright's in California . . .