Archive for Economy

Sign The Petition For President Obama: Stimulate The Economy By Forgiving Student Loans

Posted in Activism, Higher Education, Student Debt, Student Loans with tags , , , , , on March 16, 2009 by debtprisoner

Over the past twenty years, student loan debt in the United States has more than doubled. We are now graduating students with a marvelous skill set as well as a mountain of debt. If we were to take our tax dollars and invest them in paying off student loan debt in this country, we would be investing in our future and in ourselves. Many individuals and families pay more than a third of their monthly income to student loan debt. If we free up this earned income by paying off debt, our educated masses in this country could create new businesses, invest in homes, and become a foundation for the new economy. This will have a much deeper positive impact on all Americans than handing bailouts to corporations who have no impetus to invest in this country.

Sign The Petition For President Obama

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Forgiving Student Loans Would Stimulate The Economy

Posted in Higher Education, Media Appearances, Student Debt, Student Loans with tags , , , on March 16, 2009 by debtprisoner

From a recent article in The Huffington Post:

Robert Applebaum, an attorney from New York, thinks so and has an idea on how to help many in his shoes — and trust me, there are many — while stimulating the economy at the same time. The 35 year old started up an online campaign this month to bail out those “hard-working, educated middle class” suffocating in college loan debt on Facebook. He formed the group “Cancel Student Loan Debt to Stimulate the Economy” because he believes forgiving student loan debt for those making under $150,000 annually would help boost the economy from “the bottom up.”

Link to article in Huffington Post

Rev. Jesse Jackson Supports Reducing The Rate On Student Loans

Posted in Activism, Higher Education, Media Appearances, Student Debt, Student Loans, Videos with tags on March 16, 2009 by debtprisoner

Rev. Jesse Jackson has launched ReduceTheRate.org to bring attention to the Student Loan Crisis in America.

Jackson also recently appeared on Democracy Now! alongside Alan Collinge, author of the book The Student Loan Scam: The Most Oppressive Debt In U.S. History And How We Can Fight Back.

Jesse Jackson’s new website, ReduceTheRate.org, advocates reducing the interest rate on student loans to 1%.

Student Loans: Leaving The Country

Posted in Student Debt, Student Loans with tags , on March 16, 2009 by debtprisoner

A reader of my old blog contributed the following article.

Leaving the Country:

If you have students loans that are so high, it is a mathematically impossibility to pay back, you may have to leave the country.

Since the usury victim cannot go into bankruptcy:
1. Your wages will be garnished up to 25% for the rest of your life.
2. You cannot have a bank account since it can be seized.
3. You will have bad credit for the rest of your life, affecting both borrowing and employment.
4. You cannot own a decent car except a wreck, or real estate since it would be seized.
5. Limits on some licenses.
6. You cannot save for retirement since it can be seized.
7. Calls at work for payment for the rest of your life.

I have been following this for years, and it gets more and more draconian. There is even talk of taking driver licenses away of student loan usury victims. They are now taking part of people’s Social Security check. By the time you are old, they may take all of it.

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