Thread: Heroes & Zeros / Student Loans Justice / CNN INTERVIEW

Heroes and Zeros / Hero: Alan Collinge / Founder, StudentLoanJustice.org

http://tinyurl.com/5bje7n

By Lynn O'Shaugnessy and Donna Rosato of CNN

"Student loans have become the most profitable, uncompetitive and oppressive type of debt in our nation's history." -- CNNMoney.com, Dec. 12, 2008

Five million federal student loans are currently in default, which adds up to about $38 billion in bad debt. Collinge has spent years fighting for college graduates, as well as dropouts, who are in trouble with these loans.

What's frightening about the situation, he says, is that lenders have all the power: "Student loans have become the most profitable, uncompetitive and oppressive type of debt in our nation's history." He points out that Congress long ago eliminated standard consumer protections for borrowers. A family struggling with mortgage or credit card payments enjoys far more rights than a recent grad who helped pay for his anthropology degree with student loans. (He gives details in his upcoming book The Student Loan Scam: The Most Oppressive Debt in U.S. History--and How We Can Fight Back.)

Working out of his cramped apartment in Tacoma, Wash. - for no pay - he has watched membership in his grass-roots organization grow to about 4,000 people. In 2009, he hopes to start a counseling/advocacy service for desperate borrowers and to continue fighting for a federal student borrower bill of rights. --L.O.

Since American Educational system has been educating undocumented immigrants and their children, why haven't we forgiven all American Citizens' debt for higher education. In other words every American should have had and should get free total higher education with our tax dollars. Furthermore, let's mention the government paying with our American tax dollars the medical bills of birthing undocumented immigrants and their non-citizen children.

FREE HIGHER EDUCATION AND MAKE IT RETROACTIVE; EVEN REPAY OUR AMERICAN CITIZENS DAMAGES THE CREDIT COMPANIES HAVE CAUSED; SOUND GOOD. IF WE ARE BAILING OUT EVERY COMPANY SHOULDN'T THE AMERICAN CITIZENS BE HELPED FIRST. ISN'T IT OUR MONEY?

Right on VM! In fact, I hold a student loan with Citicorp! My tax dollars have been used to bail them out of their financial mess, so I want that amount deducted or credited to my account!

Why is it acceptable for their mismanagement to be forgiven with my money, yet I am held to a higher standard, with no sympathy on their part towards my struggles!

Screw them!