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The Proposal

President Obama recently signed into law a $787 billion stimulus package on top of Bush's grossly mismanaged $700 billion TARP bailout from last September. Several weeks ago, the Federal Reserve basically printed an additional $1,000,000,000,000 to inject more funds into the monetary system which will undoubtedly have the effect of diminishing the purchasing power of the dollar.

Frequently Asked Questions (FAQs)

To learn how to get involved right now, click here.

For answers to some of the most frequently asked questions, see below.

President Obama Addresses Soaring Tuition Costs - But What About Those Already Drowning in Student Loan Debt?

President Obama knows first hand what it's like to deal with student loan debt.  Both he and the First Lady borrowed heavily to attend college and law school, but both were able to easily repay their loans, thanks to significantly lower tuition back when they attended school, high-paying jobs at corporate law firms after they graduated, and the proceeds from two best-selling books.  Obviously, I think it's great that the President of the United States not only acknowledges that student loan debt is out of control, but that colleges and universities have been complicit in a

Academe - The Magazine of the American Association of University Professors: Academic Freedom and Indentured Students

This article appears in this month's issue of Academe, the official magazine of the American Association of University Professors.  In it, the author compares student loan debt in America today to 18th century indentured servitude and makes the case that the AAUP should " consider student debt a major threat to academic freedom and make the abolition of student debt one of its major policy platforms."

Let's see if the larger AAUP community agrees - either way, when university professors start to acknowledge that they're part of a system of modern day debt slavery and that the system needs to change, you know that our message is really starting to seep into the public consciousness!

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My Jan. 23rd Appearance on Portland's KBOO "More Talk Radio"

For those who missed it live, here's a link to the archived version of the hour-long segment about student loan debt.  Thanks to the folks at KBOO for having me on as a guest.  Feedback on my performance is always welcome and appreciated.

 

Publish Date: 
January 23, 2012

Will You Stand With Stef? Tell Sallie Mae: Stop the Unemployment Penalty

Meet Stef Gray, a recent graduate of a public college who took out private student loans through Sallie Mae before the credit crunch. Despite her school's relatively low tuition and her full-time job, she still needed the extra help in order to pay for rent, utilities, and groceries because her parents had passed away. Sallie Mae loaned her money with a 9.75 percent interest rate because she didn't have anyone who could co-sign.

Predatory Student Loans Got You Down? Take Action!

You're mad as hell and you're not gonna take it any more!  Don't just sit back and take the abuse, follow Stef Gray's lead and take action into your own hands! 

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External Title: 

Predatory student lending got you down? Start a petition.

Looking for Veterans Victimized by For-Profit Schools

Looking for military veterans that attended a for-profit college (e.g. DeVry, University of Phoenix, Art institutes, Kaplan, Lincoln Tech or any of the other for-profit degree factories that advertise heavily on daytime TV), who lives relatively close to the Chicago area, to join Sen. Dick Durbin (D-IL) in an event to present a new bill to combat the abuses of the for-profit school industry.

If interested, please contact Mike DiGiacomo by clicking here.

ABA Journal: The Law School Bubble: How Long Will It Last if Law Grads Can’t Pay Bills?

Oh, so NOW the American Bar Association notices?  Where were they for the last decade when this problem could have been addressed before reaching critical mass?

Publish Date: 
January 1, 2012

The New CFPB Wants Your Input on Private Student Loans

 

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