Student Loan Debt - One Harsh Reality an amazing story, posted 7/28/14. Don't miss the comments below. It will break your heart.
President Takes Action On Student Loans As Pressure On Senate Builds by Emily Divito, Campaign for America's Future, June 9, 2014. "... an executive order today capping student loan repayments at 10 percent of the borrower’s monthly income... will not go into effect until December 2015... President Obama also formally endorsed the Student Emergency Loan Refinancing Act introduced by Sen. Elizabeth Warren (D-Mass.), which would allow borrowers to refinance their student loans to a lower, fixed interest rate. The bill is expected to come to a vote in the Senate on Wednesday."
First thing, if you currently have a student debt, you should be aware of this site:
Submit a Complaint to CFPB categories are Mortgage, Debt Collection, Credit Reporting, Bank acct. or service, Credit Card, Money Transfer, Payday loan, Student loan, Vehicle or other consumer loan.
Second thing, you should be aware that, according to the U.N., you are entitled to free higher education as a human right. Read the information on the following site:
Higher Education Should Be Free. Much research has shown that one of the best ways to fix the economy and the country is to make higher education free for all students who can qualify. Read the facts. Connect the dots.
You shouldn't be in debt, or facing debt because you are a student. Lying, cheating Banks, Wall Street and corporations have decided to dump the cost of education on students, our future, and make a fortune from the scam. Fight back! Go to Value of Higher Education Should Be Free, get the facts, and start speaking up. Run for office. Be brave, and confront the stooges of corporations and tell them the facts.
Compare financial aid and college cost This is from the CFPB. "When it comes to choosing a college, we can help you make informed financial decisions about paying for college. Understand loan options, compare your financial aid offers, and learn about student banking." The CFPB still thinks students have to go in debt to get an education--that's just the way thing are. Write them and tell them different.
Higher Ed. Not Debt Explore this site, it has a lot of good information, then...
Sign the Petition at America Needs Higher Education, Not Higher Debt!
How Wall Street Profits From the College Loan Mess "...the financial industry is coming under growing scrutiny for its shady involvement in student loan debt... As detailed in a July 2012 report by the Consumer Financial Protection Bureau and Department of Education, private student loans mushroomed over the last decade, fueled by the very same forces that drove subprime mortgages through the roof: Wall Street’s seemingly endless appetite for new ways to make profit."
Obama Video: Supporting America' Students a bill from the Democrats to cap student payments on debt.
Another Reason To Rein In Big Banks: Student Loan Shenanigans by Emily Divito. Campaign for America's Future, June 5, 2014. "High interest rates and more than $1.2 trillion of student loan debt are not the only challenges facing the 40 million Americans with student loans. Student borrowers face intense hardships caused by the deceptive practices of loan providers and servicers... grievances include crucial information not being available, changes in loan terms without consent and without apparent reason, and blatant lying by loan providers and servicers... There are no industry standards that dictate how much information these companies must provide to the borrower. Nor is there an agency solely dedicated to regulating these loan providers and servicers. Although the CFPB recently vowed to supervise the actions of the seven largest student loan providers and servicers, including Sallie Mae and Nelnet, most student loan companies are left unregulated."
Lift A $1.2 Trillion Weight On Student Borrowers And The Economy by Kitty Lan. Campaign for America's Future, June 5, 2014. "... the debt is not only an individual burden for the graduates; their cumulative impact threatens to overwhelm the entire American economy.
"Reports of mistreatment – including the Sallie Mae scandal in which military members were improperly higher interest rates – reveal the fundamental misalignment of interests between loan servicing companies and student borrowers..
"Chopra said the more than $1.2 trillion student loan debt is also keeping potential consumers from getting their first car, qualifying for mortgages, and buying other goods and services. Student debt also harms entrepreneurship; college graduates with high student debt are more wary about their income and savings and less likely to risk investing in their own talent and ideas. Reducing student loan debt is also an economic imperative that will spur further economic growth."
Colby Glass, MLIS