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By Margaret B. Jones
$16.47
By Yalman Onaran
$23.40
$17
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AP/Carolyn Kaster
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The Democratic senator from New York has proposed legislation that would allow holders of student debt to refinance their loans at lower interest rates, a move that could save tens of millions of borrowers a combined $14.5 billion in the first year.
Posted on May 20, 2013
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Mike Keefe, Cagle Cartoons —
Posted on May 18, 2013
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Herkie (CC BY-SA 2.0)
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The Obama administration is set to pull in $51 billion from student loans this year, “a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets,” The Huffington Post reports.
Posted on May 17, 2013
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AP/Cliff Owen
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By Robert Scheer — How astonishing to have a public servant who actually cares to inform the public about the inner workings of the system of crony capitalism that has wedded big government with big business.
Posted on May 14, 2013
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Nate Beeler, Cagle Cartoons, The Columbus Dispatch —
Posted on May 13, 2013
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State Farm (CC BY 2.0)
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Crippling student debt is keeping hundreds of thousands of Americans from spending money on goods and services in the real economy, which is constraining the nation’s recovery.
Posted on May 11, 2013
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Steve Sack, Cagle Cartoons, The Minneapolis Star Tribune —
Posted on May 11, 2013
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The senator’s first piece of stand-alone legislation is aimed at giving students who take out federally subsidized loans the same interest rate the big banks get when they borrow from the government. Student loans rates are set to go up to 6.8 percent July 1. Meantime, the big banks responsible for plunging the economy into a recession a few short years ago pay just 0.75 percent
Posted on May 8, 2013
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Flickr/University of Portsmouth Students' Union
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College costs climbed to an all-time high in 2012 while state and local funding for items such as operating expenses and student aid fell, a new report shows.
Posted on Mar 7, 2013
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Flickr/Adam Jones
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“The increase in the amount of defaulted loans among poor students comes as President Barack Obama says he wants to expand access to college for working-class families and increase funding for the Perkins program,” Bloomberg reports.
Posted on Feb 5, 2013
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Obama for America/Christopher Dilts
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While Obama flew home to take command of the federal response to Hurricane Sandy, the campaign marched on Monday, with 66-year-old Bill Clinton trying to catalyze the youth vote in Florida.
Posted on Oct 30, 2012
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Students all over America are defaulting on their student loans, especially those who attended private, profit-making institutions; Democrats’ chants about Osama bin Laden’s death take us back to George W. Bush’s boasts about Saddam Hussein; meanwhile, new scientific studies prove organic produce contains fewer pesticides and bacteria. These discoveries and more after the jump.
Posted on Sep 10, 2012
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Poster Boy NYC (CC BY 2.0)
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Banks gave money to needy college students without considering whether borrowers could repay, then bundled and resold the loans to avoid losing money when students defaulted—lending practices that mirror the run-up to the subprime mortgage crisis.
Posted on Jul 21, 2012
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Fotopedia
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Half of all recent college graduates are jobless or underemployed, with mounting student debt levels creating huge obstacles for millions of young people, an analysis of government data for The Associated Press has found.
Posted on Jul 10, 2012
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facebook.com/DefaultMovie
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By Emily Wilson — Explaining why she is fighting for reform of the student lending industry, Carmen Berkley bursts into tears. She is one of several borrowers interviewed in a documentary by Serge Bakalian, above.
Posted on Jul 10, 2012
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This week on Truthdig Radio in association with KPFK: Putting government watchdogs back to work, filmmaker Robert Greenwald, Occupy funnyman Nato Green, student debt and anarchy historian Thai Jones.
Posted on Jun 7, 2012
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Photo illustration from an image by Colin Grey (CC-BY)
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This week on Truthdig Radio in association with KPFK: putting government watchdogs back to work, filmmaker Robert Greenwald, Occupy funnyman Nato Green, student debt and anarchy historian Thai Jones.
Posted on Jun 7, 2012
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Photo illustration from an image by Colin Grey (CC-BY)
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This week on Truthdig Radio in association with KPFK: A student loan crisis just in time for graduation and “More Powerful Than Dynamite” author Thai Jones.
Posted on May 25, 2012
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This week on Truthdig Radio in association with KPFK: A student loan crisis just in time for graduation and “More Powerful Than Dynamite” author Thai Jones.
Posted on May 25, 2012
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Photo by Mike Renlund
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Despite agreeing that low federal student loan interest rates should be extended, Democrats and Republicans have not been able to come together to do so. On Thursday, the Senate rejected two competing plans that would have kept student loan rates from doubling to 6.8 percent on July 1.
Posted on May 24, 2012
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Talk Radio News Service
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Democratic legislation that would prevent student loan interest rates from doubling was blocked in the Senate by Republicans on Tuesday.
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Gage Skidmore
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The GOP’s assault on women’s health continued Friday as the House passed a bill to prevent a hike in student loan interest rates, a legislative remedy that would be paid for with money from a preventive health program that funds breast and cervical cancer screenings.
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AP / Seth Wenig
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By Lawrence Weschler — What would it be like if activists were to spend the next several months developing, articulating and organizing toward a major national mortgage and student loan strike? Such a loan strike would be slated to begin on some specific preannounced date in the intermediate future. Why not, say, on Oct. 1, 2012, right in the middle of the next presidential campaign?
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YouTube
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When he caught wind of conflict between students and police on campus, former poet laureate and UC Berkeley professor Robert Hass rushed to the scene on Nov. 9, only to witness local riot police beating students—and eventually his wife and him, too—with billy clubs. (more)
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Flickr / Vaedri1
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In the aftermath of the stock market failure of 2008, another type of economic bubble is swelling: student debt. And it’s no surprise, since Congress has done nothing to change the lending practices that brought the U.S. to the brink three years ago. (more)
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Flickr / Eleventh Earl of Mar
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Given that so many of the religious right’s mainstream leaders regularly spurn public assistance programs for allegedly creating government dependency, the fact that the late evangelist Jerry Falwell’s Liberty University took $445 million in federal aid last year has been turning quite a few heads in the media. (more)
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By Sasha Chavkin, Cezary Podkul, Jeannette Neumann and Ben Protess —
Under federal law, borrowers who develop lasting disabilities after taking out federal student loans are entitled to have their debts forgiven. The system was meant to spare former students who become disabled from a lifetime of spiraling debt. But the process of discharging the loans of disabled borrowers is broken.
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By Marie Cocco — The markers of a mushrooming student loan scandal are identical to so many of the rest: The Bush administration, determined to turn the federal government into a favor bank for its corporate cronies, ignored every indicator that the $85-billion-a-year student loan industry was rife with corruption.
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Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery
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