'You Are Not a Loan': Rolling Jubilee Abolishes Millions in Student Debt
Source: by Nadia Prupis, Common Dreams
Published on Wednesday, September 17, 2014
On third anniversary of Occupy Wall Street, offshoot project pays off nearly $4 million in debt for cheated students
As Occupy Wall Street marked its third anniversary on Wednesday, one offshoot group, Rolling Jubilee, made a historic achievement as the collective bought and abolished nearly $4 million in debt owed by thousands of students.
Rolling Jubilee, a project of Occupy Wall Street's Strike Debt movement, acquired debt incurred by students of Everest College, one of the operations of Corinthian Colleges (CCI), an umbrella company of for-profit schools, and paid for it at a discounted rate, clearing a total of $3.85 million from the collective debt of 2,761 people.
"Debt is the tie that binds the 99 percent, whether you are a student delinquent on your student loans or a parent struggling to pay healthcare bills," said Strike Debt activist Ann Larson. "Being forced into debt for basic social services is a systemic problem and the only solution is to respond collectively to create a new, equitable economy."
Corinthian Collegesand by extension, Everestis facing multiple federal fraud investigations, as well as a lawsuit filed Wednesday by the Consumer Financial Protection Bureau for its predatory lending practices, as roughly 90 percent of its funding comes from federal student loans, Rolling Jubilee said.
Read more: http://www.commondreams.org/news/2014/09/17/you-are-not-loan-rolling-jubilee-abolishes-millions-student-debt
annabanana
(52,791 posts)They do wonderful things.
navarth
(5,927 posts)How many times have you heard that?
Occupy ain't over. Thank goodness.
elzenmahn
(904 posts)Occupy's JUST GETTING STARTED!
navarth
(5,927 posts)daleanime
(17,796 posts)Xyzse
(8,217 posts)I do note that they do good work even till now.
See?
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=5542253
My disappointment comes in the sense that I wish there were leaders who could have capitalized on that movement, and become noteworthy.
Tea Party gave us many abominations such as Michelle Bachman.
I would have enjoyed seeing a few figures come out of the occupy movement that could run for government, and push the agenda further to the left.
navarth
(5,927 posts)I never said that you said anything. Don't even know you.
And I fully support Occupy. My post was referring to people who actually DO think they didn't accomplish anything. No idea if you are one of those people.
Have a good day.
rhett o rick
(55,981 posts)forth Rep Bachman?
If you wanted to know the leaders of OWS you aren't alone. The Powers That Be via the NSA/CIA branch of the govment also want to know. I am guessing that all suspected leaders of OWS would be targeted for special treatment by the Security State. Probably never fly on an air plane again or get a lone, etc.
suffragette
(12,232 posts)mountain grammy
(26,621 posts)AllyCat
(16,187 posts)This! Check out the Tiny Houses project in Madison , WI. Yet another shining example of those lazy protestors.
IronLionZion
(45,442 posts)very nice. Hopefully they can make a big impact. Predatory lending is so disgusting.
glinda
(14,807 posts)garnishing of SS in our future.
RoBear
(1,188 posts)At some point in time the one payment per month became split between two companies, and now one of them gets 15% every month. It's harder than hell living on less that 1200 per month, even in Kansas where living is fairly inexpensive. I'd like to get out of this trap--I'm now 74 and knowing that I'm never going to be better off is depressing sometimes...
Things would look at lot rosier if Kansas got even a tinge of blue this November. Plan to work in campaigns to try to get the truth out.
AllyCat
(16,187 posts)When Sallie Mae found out they were trying to buy debt, they refused to sell to them. The PTB want us subservient. I know a senior facing your fate now. It's awful. He'll fill out forms to reduce payments, then nothing ever happens. Living on SS only and now has this damned debt he inherited in a divorce chasing him around the country.