Archive for student loan bailout

Starting Life With Student Loan Debt

Posted in Economy, Media Appearances, Student Debt, Student Loan Default, Student Loans with tags , , , , , , , on October 6, 2010 by debtprisoner

Forgive Student Loans, Stimulate The Economy

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

“The National Association of Colleges and Employers says that average starting salaries for the Class of 2002 range from $27,000 for political science majors to $51,000 for computer programmers. Around $35,000 is the national norm.”

“After taxes, that works out to about $2,000 a month–the rent on a tiny apartment in a borderline neighborhood in New York or San Francisco. When a fifth of your paycheck goes to student loans, it’s hard to afford a car, much less purchase a first home. Economists looking for explanations for declining sales of big-ticket items might start here.

“College tuition is free or nominal in most industrialized, and many Third World, countries. The United States’ insistence that students assume huge debts to pay for their college education is unusual enough that the Chinese government included it in its 2001 report of American human rights violations.”

Excerpted from “Student Loans Are For Suckers” by Ted Rall.


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).

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