Our precious youth, the future of our nation, are nothing more than cash cows to the Department of Education and Big Banks and cheap labor for corporations. Democratic legislators and our Democratic President make sure that this remains the status quo.
Obama administration urges no bankruptcy relief for student debt
The Obama administration moved to block a bankruptcy court from erasing federal student loan debt, saying such an allowance would jeopardize the fiscal stability of the loan program.
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No student debtors should get a break unless there is a "certainty of hopelessness" with circumstances that have a "total incapacity" to change, court documents said said.
"An individual's economic circumstances may change over time," attorneys said. "Improvements in the national economy may offer new employment prospects, changes in family circumstances may reduce the number of the debtor's dependents, a spouse may enter or reenter the workforce, or the debtor may benefit from an inheritance or other windfall."
What kind of system of government do we live under when Billionaire Donald Trump can file bankruptcy four times despite his excellent prospects while graduates struggle under an average $30,000 worth of student debt with no remedy? Oligarchy.
Before Senator Bernie Sanders declared his candidacy, no presidential candidate in memory ever addressed this crisis which threatens not only young individuals but the national economy. How can our children get a start in life when they carry a mortgage-sized debt and often are forced to work poverty wage jobs when they are unable to find work in their field?
In my view, the most revolting aspect of the student loan crisis is that every year, the federal government makes billions of dollars in profits off of student loans – $127 billion over 10 years, according to the Congressional Budget Office. We must end the practice of the government making billions in profits from student loans taken out by low and moderate income families. That is extremely regressive public policy. It also makes no sense that students and their parents are forced to pay interest rates for higher education loans that are much higher than they pay for car loans or housing mortgages. We must restructure our student loan programs to take the profits out of our system, and return them to borrowers in the form of loan forgiveness and lower interest rates.
~ Senator Bernie Sanders University of Iowa speech, February 2015
Couple Senator Sander's position on crushing student debt with his sole recognition of climate change as the greatest national security threat, and it is no surprise that youth are overwhelming the internet with their enthusiastic support.
In my town, a small team of high school students has outdone any local adult efforts by registering over a hundred of their classmates with the ultimate goal of registering every junior and senior in their school who will be qualified to vote in Oregon's May 17 primary. Oregon State University is organizing for Bernie despite its well-deserved reputation of being apolitical with a dismal voting rate which hovers around 9 percent. They know what is at stake.
When I get tired of data entry, conference calls, arranging meetings, making signs, printing, phoning, networking, and planning, I remember them and it keeps me going.