Obviously, it's illegal to do so. There has been some discussion about this across the pond, and a reader posted it on one of AEM's Facebook pages.
So . . . would you sell an organ to pay of your student loans? If so, what would you be willing to sell?
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
Wednesday, August 3, 2011
Tuesday, August 2, 2011
Because Moody's Gloomy Report Is So Enlightening . . .
Now that Moody's has let us know that it is likely that student debtors will have more difficulty paying back their loans in coming years, we can all rest easy, right?!? Because those of us who are living with our in-laws, parents, or on the verge of becoming homeless, and struggling to pay the incredible un-shrinking student loan debt man, didn't know this fact already. (Here's the illuminating study).
Yeah, so, anyway . . . did you realize that we're experiencing a student lending crisis? News to me! News to you!
Gee, thanks for letting us know, Moody's! You must be in the analytical business of the OBVIOUS, right?!?
Yeah, so, anyway . . . did you realize that we're experiencing a student lending crisis? News to me! News to you!
Gee, thanks for letting us know, Moody's! You must be in the analytical business of the OBVIOUS, right?!?
Image Credit: Silas & Eppie
Pell - Official Statement from Campus Progress
AEM has signed several important letters in support of Pell, and I have made a point to spread the word via Twitter and Facebook about the fact that it was on the chopping block.
Campus Progress issued the following statement today:
WASHINGTON, DC– Campus Progress, the youth outreach arm of the Center for American Progress, released the following statement today in response to the passage of the debt ceiling bill in the Senate:
"While the deal that Congress passed today to avoid default and raise the debt ceiling is far from perfect, we are pleased that it will maintain $17 billion in funding for the Pell grant program for the next two fiscal years, giving over 10 million young people the chance to attend college. The preservation of the Pell grant in the midst of fierce pressure to cut spending is a testament to the importance and effectiveness of the program itself, and speaks to the dedication and leadership of President Obama and Congressional allies who have fought to create opportunities for low income youth.
We recognize that spending adjustments are necessary in order to protect vital programs like the Pell grant, but we are concerned that a portion of the cost savings from cuts to student loan programs will be applied to paying down the deficit instead of being reinvested in education. Throughout the debt ceiling negotiations, Campus Progress and its partners have emphasized that if our country is to emerge from this economic downturn, we must invest in young people rather than cut valuable programs in order to reduce the deficit.
As an organization that works with and on behalf of young people across the country, we will continue to put pressure on our leaders to stand up for what’s right and not to cede ground to the most conservative factions in Congress who have shown that they are willing to prioritize the needs of millionaires and billionaires over everyone else, including their own constituents. We hope that in the coming weeks and months the national conversation will return to where it should be: establishing a robust job creation agenda that will benefit us all and provide opportunities for young Americans who are facing almost 16% unemployment."
For more information on Campus Progress’ work on affordable education and saving the Pell grant, please click here.
On a final note, I want to thank all of the people, especially on Twitter, who RT-ed the SOS for Pell. Without your hard work and dedication to disseminating this information, Pell might have very well been cut. Thanks so much again.
Related Links
"Debt-Limit Deal Protects Pell Grant Funding for Millions of Students," United States Student Association (August 2, 2011)
"URGENT ACTION: Tell The GOP that Pell Grants Are NOT Welfare," AEM (July 29, 2011)
"More Threats To Pell," AEM (July 29, 2011)
"Save Pell," AEM (July 16, 2011)
"Point/CounterPoint - Pell Grants," AEM (May 25, 2011)
Campus Progress issued the following statement today:
Campus Progress Statement: Debt Deal Maintains Vital Funding for Low Income Students
WASHINGTON, DC– Campus Progress, the youth outreach arm of the Center for American Progress, released the following statement today in response to the passage of the debt ceiling bill in the Senate:
"While the deal that Congress passed today to avoid default and raise the debt ceiling is far from perfect, we are pleased that it will maintain $17 billion in funding for the Pell grant program for the next two fiscal years, giving over 10 million young people the chance to attend college. The preservation of the Pell grant in the midst of fierce pressure to cut spending is a testament to the importance and effectiveness of the program itself, and speaks to the dedication and leadership of President Obama and Congressional allies who have fought to create opportunities for low income youth.
We recognize that spending adjustments are necessary in order to protect vital programs like the Pell grant, but we are concerned that a portion of the cost savings from cuts to student loan programs will be applied to paying down the deficit instead of being reinvested in education. Throughout the debt ceiling negotiations, Campus Progress and its partners have emphasized that if our country is to emerge from this economic downturn, we must invest in young people rather than cut valuable programs in order to reduce the deficit.
As an organization that works with and on behalf of young people across the country, we will continue to put pressure on our leaders to stand up for what’s right and not to cede ground to the most conservative factions in Congress who have shown that they are willing to prioritize the needs of millionaires and billionaires over everyone else, including their own constituents. We hope that in the coming weeks and months the national conversation will return to where it should be: establishing a robust job creation agenda that will benefit us all and provide opportunities for young Americans who are facing almost 16% unemployment."
For more information on Campus Progress’ work on affordable education and saving the Pell grant, please click here.
On a final note, I want to thank all of the people, especially on Twitter, who RT-ed the SOS for Pell. Without your hard work and dedication to disseminating this information, Pell might have very well been cut. Thanks so much again.
Related Links
"Debt-Limit Deal Protects Pell Grant Funding for Millions of Students," United States Student Association (August 2, 2011)
"URGENT ACTION: Tell The GOP that Pell Grants Are NOT Welfare," AEM (July 29, 2011)
"More Threats To Pell," AEM (July 29, 2011)
"Save Pell," AEM (July 16, 2011)
"Point/CounterPoint - Pell Grants," AEM (May 25, 2011)
Saved by the Pell!
Monday, August 1, 2011
Student Loans and Debt Deal
AEM was first to report about the debt ceiling fiasco and how it would effect student loans. CNN has picked up the story and provided information about what students can expect with the outcome of the debt deal (full story here).
Here are a few points worth noting:
Our politicians clearly have their priorities straight and care about educating citizens. Go Congress. You're looking out for all the right things and entities. No word on what will happen to variable interest rates and current borrowers. One thing is certain. We aren't even in line anymore when it comes to Congress. The indentured educated class has truly been betrayed and on so many levels by this debt deal. It's time we unite and do something about it. Stay tuned for strategy plans.
Related Links
"Quick Update: Default, The Debt Ceiling Fiasco, and Interest on Your Student Loans," AEM (July 31, 2011)
Here are a few points worth noting:
Congress would scrap a special kind of federal loan for graduate students. So-called subsidized student loans don't charge students any interest on the principal of student loans until six months after students graduated.
Congress would also nix a special credit for all students who make 12 months of on-time loan payments.
The other big cut that Congress is targeting is a credit that all students get on the origination fee they pay the federal government to process their loans. Students pay 1% of the loan as an origination fee, but all students get half of that back unless they miss one of their first 12 payments.
The loss of that credit would cost a student who borrows $5,000 from the federal government $25. This would cost students $3.6 billion over the next decade, according to the budget office
Our politicians clearly have their priorities straight and care about educating citizens. Go Congress. You're looking out for all the right things and entities. No word on what will happen to variable interest rates and current borrowers. One thing is certain. We aren't even in line anymore when it comes to Congress. The indentured educated class has truly been betrayed and on so many levels by this debt deal. It's time we unite and do something about it. Stay tuned for strategy plans.
Related Links
"Quick Update: Default, The Debt Ceiling Fiasco, and Interest on Your Student Loans," AEM (July 31, 2011)
Pedro Nicolaci da Costa, "Default cloud hangs over U.S. job market," Reuters (July 31, 2011)
Progressive Co-Chair Rep. Raúl M. Grijalva Statement on Emerging Debt Deal, Official Statement (July 31, 2011)
Gregory Floyd, "It's Time to Question Labor's Ties to Democrats," HuffPost (July 30, 2011)
"Debt Ceiling Fiasco and Student Loans," AEM (July 30, 2011)
"Who's Terrified? Debt Ceiling Fiasco and Student Loans," AEM (July 29, 2011)
"Call to Action: Tell Leaders in D.C. to Raise the Debt Ceiling," AEM (July 28, 2011)
"Sell Those Indenture Instruments Immediately! The Debt Ceiling Disaster and Student Loans," AEM (July 25, 2011)
"The Debt Ceiling Fiasco and Student Loans," AEM (July 25, 2011)
Seeking More Stories
Are you a recent grad who is homeless? If so, I want to hear your story and share with my readers.
Are you a recent grad who has resorted to prostitution to pay off your loans? If so, I want to hear from you.
The more stories, the better. Indentured educated class unite!
Are you a recent grad who has resorted to prostitution to pay off your loans? If so, I want to hear from you.
The more stories, the better. Indentured educated class unite!
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