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STOP paying your student debt
Americans now owe more than $875 billion in student loans to the bankster crime families - which is more than the total amount that Americans owe on their credit cards.
Since 1982, the cost of medical care in the United States has gone up over 200% but that is nothing compared to the cost of college tuition which has gone up by more than 400%!
The unemployment rate for college graduates under the age of 25 is over 9%.
There are approximately two million recent college graduates that are currently unemployed.
Approximately two-thirds of all college students graduate with student loans.
In the United States today, 317,000 waiters and waitresses have college degrees, 365,000 cashiers have college degrees and over 18,000 parking lot attendants have college degrees.
According to a recent survey by Twentysomething Inc, a staggering 85 percent of college seniors planned to move back home after graduation.
STOP PAYING
"I have $140,000 in U.S. student loan debt and can't find a job. I flew across the Atlantic, with no intention of returning to avoid drowning in debt for the rest of my life."
"Education should be free, not a debt trap. There's no law that puts debtors in jail, so stop paying the filthy rich loan sharks."
Student Loan Debt Secrets They Don’t Want You To Know
by studentloans on May 24, 2011
Student loan debt is easy to get into…and hard to get out of. According to the National Postsecondary Student Aid Study, two-thirds of students borrow to pay for college, with the total amount borrowed in the 2008-2009 year reaching $75.1 billion. The average graduate leaves school owing $23,186. What many graduates fail to realize is just how costly their time in college will be once they are done paying it off…mostly thanks to the following dirty secrets about student loan debt.
1) Your School Gets a Kick Back When You Take on a Private Loan from One of Their Preferred Lenders
Many banks establish relationships with colleges and pay them a kickback every time a student takes out a loan from them – regardless of whether or not it’s in the student’s best interest. In 2007, Columbia University paid $1.1 million to a fund to educate students about loans because “financial aid director for Columbia’s undergraduate college and its engineering school, David Charlow, was promoting a student loan company in which he held stock.” Columbia Settles Student Loan Case)
2) You (Most of the Time) Can’t Get Rid of Your Student Loans in Bankruptcy Court
In 2005, the bankruptcy laws were changed, making it harder for students to file for bankruptcy and use that protection to reduce or eliminate excessive student loan debt. Today, it’s harder to qualify for bankruptcy protection against student loan debts. In certain circumstances, where it can be proved that you suffer an “undue hardship”. A Move to Ease Student Debt Burden
3) Tuition Has Gone Up Faster Than Inflation…Therefore Increasing Student Loan Debt Levels
Because the government will lend money for students for virtually any school and any degree, the cost of college continues to climb as more students seek a college education and more money is handed out by the government. According to Collegeboard.org, over the decade from 2000-2001 to 2010-2011, tuition and fees at public four-year colleges/universities increased at an average rate of 5.6% per year beyond the rate of inflation. “Published in-state tuition and fees at public four-year institutions average $7,605 in 2010-11, $555 (7.9%) higher than in 2009-10. Average total charges, including tuition and fees and room and board, are $16,140, up 6.1%” according to the CollegeBoard.org report Trends in College Pricing 2010.
In basic economics, you are taught that when the supply of something goes down and demand stays strong the price rises (like when there is a freeze and oranges are in short supply = orange juice gets more expensive). The trouble is, not only did the demand of students wanting to go to college increase in the last twenty years, so did the supply of student loan debt money. This caused prices for tuition to skyrocket as more and more students demanded enrollment, and colleges were vying for money by building fancy dorms, student centers, and other perks. Many students lived better in college than they will for the rest of their lives.
4) Wages Have Been Dropping for Years – Making Student Loans Harder to Pay Back
According to the CollegeBoard Trends in College Pricing 2010 report, “In 2009, average income was 11% lower than it had been a decade earlier for the bottom 20% of families, 5% lower for the middle 20%, and the same as a decade earlier for the top 20%.”
5) You Don’t Learn Much About Money in College – Poor Money Management Keeps You Poor For Life
In 1903, John D. Rockefeller started the General Education Board and began controlling what was taught in schools. Notice how you were taught that you should work for a good company, work hard, live below your means, and save for the long term by investing in the stock market and praying it goes up.
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