Archive for obama

Student Loan Scam: the fast road to Debt Slavery

Posted in Chiropractic College Debt, Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags , , , , , , on September 5, 2010 by debtprisoner

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Student Loan Debt Clock — $848 billion and counting

Posted in Activism, Economy, Higher Education, Student Debt, Student Loan Default, Student Loans with tags , , , , on September 5, 2010 by debtprisoner

A new tool lets you watch the country’s collected student debt pile up in real time.

Sponsored by FinAid.org, the Student Loan Debt Clock tallies an estimate of total private and federal outstanding student debt. According to FinAid, now is peak time for debt growth, as more student loans are doled out at the semester’s start.

Link (to Huffington Post)

College May Become Unaffordable For Most In U.S.

Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags , , , , , , , , , , , , on March 19, 2009 by debtprisoner

“The rising cost of college — even before the recession — threatens to put higher education out of reach for most Americans, according to the biennial report from the National Center for Public Policy and Higher Education.”

“Over all, the report found, published college tuition and fees increased 439 percent from 1982 to 2007 while median family income rose 147 percent. Student borrowing has more than doubled in the last decade, and students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.”

My response: College is ALREADY unaffordable for most in the U.S. Right now, families are financing higher education through DEBT (often that they will never be able to pay back).

But tuition has finally increased so much (relative to median family income) that it’s starting to make more sense to just skip college altogether. I certainly recommend not attending rather than taking out student loan debt — which is the only option for most families.

Link (via The New York Times)

Obama Needed Book Sales To Pay Off Student Loan Debt

Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags , , , , , , , , , , , , , , on March 18, 2009 by debtprisoner

Does it take having TWO NEW YORK TIMES BESTSELLERS to pay off student loan debt in America?

Apparently it did for President Barack Obama, the guy who thinks every child in America should go to college.

“It wasn’t until Barack Obama wrote a pair of best-selling books that he and his wife escaped their student loan debt, an experience Michelle Obama said Tuesday helps the couple understand everyday challenges better than policymakers in Washington.”

“Obama told the crowd that when she and her husband left law school, the monthly payments on their school loan debt was more than their monthly mortgage payment. She said they only got out of that debt when Barack Obama wrote his two books, The Audacity of Hope and Dreams from My Father.”

Surely President Obama would understand what we’re talking on this blog, since he and The First Lady both had massive student loan debt!

So why hasn’t he stopped by StudentLoanJustice.org — or linked to this blog? Why haven’t YOU?

Link (to Michelle Obama: Barack’s Book Sales Paid Off Our Student Loans on Fox News)

Student Debt: Shocking 60% Need Student Loans For A Bachelor’s Degree

Posted in Economy, Higher Education, Sallie Mae, Student Debt, Student Loan Default, Student Loans with tags , , , , , , , , , , , , , , , , , on March 18, 2009 by debtprisoner

“In each year between 2000 – 01 and 2006 – 07, an estimated 60% of bachelor’s degree recipients borrowed to fund their education.”

“Average debt per borrower rose 18%, from $19,300 to $22,700 in 2007 dollars over this time period. Average debt per bachelor’s degree recipient increased from $10,600 to $12,400.”

“In 2007 – 2008, lenders provided about $17 billion in private loans, a 592% increase from a decade earlier.

Source: The College Board (Trends in Student Aid – 2008)

60% of students borrowing money to fund a bachelor’s degree?

A 592% increase in PRIVATE LOANS for undergrad college?

The American Student Loan Debt Crisis has become a major problem that is hurting the U.S. Economy.

Find out how you can help solve the problem by visiting Student Loan Justice (link).

Student Loan Scam on The Michael Savage Show

Posted in Activism, Economy, Higher Education, Media Appearances, Sallie Mae, Student Debt, Student Loan Default, Student Loans, Videos with tags , , , , , , , , , , , on March 17, 2009 by debtprisoner

Student Loan Scam: The Most Oppressive Debt in U.S. History
—and How We Can Fight Back
.. – Author: Alan Michael Collinge. JANUARY 29, 2009. MICHAEL SAVAGE Show.

Alan Collinge never imagined he would become a student loan justice activist. He planned to land a solid job after college, repay his student loan debt, and then simply forget the loans ever existed. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.

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