Members of the Occupy Student Debt Campaign unveiled their plan for easing student debt woes this Monday in Zuccotti Park. Their plan calls for students to sign a debtors pledge in which they promise to stop making payments on their student loans after one million people have signed the pledge.
“There is no justice in a system that openly invites profiteering on the part of lenders. Education is a right and a public good, and it should be properly funded as such,” wrote the Occupy Student Debt Campaign on their website: occupystudentdebtcampaign.com.
While the group has some noble ideas, its members voluntarily took on the loans; there was no one forcing them to do so. Instead of taking on substantial student debt, these students could have attended cheaper universities or funded their studies themselves. There are many students who decide to work in college instead of taking on student loans. These students often spend longer in college, but when they graduate they are not in debt. It would be unfair to these students if the debts of other students were forgiven.
“There’s this very strong moral and ethical belief that people don’t walk away from loans they voluntarily assumed,” said Anya Kamenetz, the author of “Generation Debt,” in an article on The Huffington Post.
Although the system is obviously broken, these students need to claim responsibility for their situation and pay off their debt. Their situation should serve as a warning to future students that they shouldn’t take on more debt than they can manage.
Deciding to stop making payments on their student loans will only make the situation of these students more dire. The last thing a loan-laden college student needs in today’s job market is a black mark on their credit score.
As of Monday night, only 253 individuals have signed the pledge — an indication that Occupy Student Debt has a lot of work to do before they reach their goal of one million signers.
The loans aren't voluntary if you value education and social mobility more than a credit score and don't have the means to cover the sky-rocketing cost of tuition the defunding of the education system has created.
Why the hell are you whining about how unfair this is? If you haven't figured it out yet, life isn't fair. Get over it.
Just because you worked your way through college doesn't mean that everyone should have to. Some people are rich. Some are poor. If you are too rich to qualify for government loans, why hate someone that started out with less?
The reality is that once you start taking loans, the only way forward is to continue your course of study to completion because you definitely cannot pay them off working a minimum wage job. This means taking on more loans to complete a degree.
4+ years ago when these students first started their studies, no one was talking about the lack of jobs that would be available to them. The students didn't know they would not be able to afford their loans because they had no idea we were heading for an economic downturn.
And if these students went to a predatory for-profit college then they were lied and manipulated into pursuing a useless degree. Not everyone has the benefit of coming from a privileged middle-class background and recognized a scam when it is presented to them. What really sucks for these students is that college loans are the only type of loan that will not be forgiven through bankruptcy.
Think about that. We have a system where people can be forgiven all of their debts, so long as they are willing to take a black mark on their credit for the following decade. Does that piss you off like this student loan issue? Why not?
You made it through college, got a degree, you may even be able to find a good job, and you have no debt. You were able to take care of yourself (or had someone to take care of you). Why are you jealous of someone that didn't do as well?
"Why the hell are you whining about how unfair this is? If you haven't figured it out yet, life isn't fair. Get over it."
So why are you whining?
"these students need to claim responsibility for their situation a pay back their debt." They wouldn't object if their were jobs available for them to do so and still eat. For the author's sake, I sure hope they are writing from a position of privilege, because if not, I speculate they will be singing a different tune when they graduate.
Dear Seattle Mayor McGinn,
Did you see were the retired Police Chief of Philadelphia got arrested at occupy NY? He called the NY City police; “‘obnoxious, arrogant and ignorant’”. Now the NYC Police and the Seattle Police have something in common! Please get your officers to respect people and knock off the pepper spay free for all. This occupation movement has just begun, and if the City of Seattle and their police treat them as they have, you are setting up a terrible mess.
January 20, 2012 – Move to Amend Occupies the Courts!
Move To Amend is planning bold action to mark this date — Occupy the Courts — a one day occupation on Friday January 20, 2012, of the Federal Courts, including the Supreme Court of the United States and as many of the 89 U.S. District Court Buildings as we can.
Please Sign the petition to amend the Constitution for revoking corporate personhood at:
movetoamen d.org
It's Time to GET MONEY OUT of politics
Bailouts. War. Unemployment. Our government is bought, and we’re angry. Now, we’re turning our anger into positive action. By signing this petition, you are joining our campaign to get money out of politics. Our politician s won’t do this. But we will. We will become an unrelenting, massive organized wave advocating a Constitutional amendment to get money out of politics.
Please sign the petition!
http://www.getmoneyout.com/
http://open.salon.com/blog/kennspace/2011/10/28/c…
Can't Pay. Won't Pay. Join Us.
DONT PAY.
http://www.occupystudentdebtcampaign.org
Higher Education is not a microwave or a toaster and lenders should not be allowed to double the principle amount with interest and penalties. Student loans are structured for default. defaulted loans are sold as SLABS (student loan asset backed securities) where they generate a frenzy of wall street profits.
stop this. Make higher education the responsibility of the commons just as K- 12 currently are. We have to.
I think the DC Editorial Board might be missing the point. These people aren't trying to get away with something; they're striking back at the system.
If one million people didn't pay, a large amount of capital flow would dry up for a lot of these banks forcing a large scale reevaluation of credit at the bank level.
When this happened to the housing market the government bailed out the banks and left the homeowners high and dry. But education is viewed differently by society than, say, house flipping, and telling the future source of tax revenue that you're actively screwing them is very simply not good for business.
"If one million people didn't pay, a large amount of capital flow would dry up for a lot of these banks forcing a large scale reevaluation of credit at the bank level. "
So you want banks to stop making student loans? Please help me understand how making financing student education less attractive will help make education more attainable?
"I remember a time when such loans and even FAFSA didn't exist. Then it was a hopeful student's job to win a scholarship, find a rich relative, a friend, work a million jobs and hope for the best. " Really? CUNY was free, completely free until 1976. In the late Forties we had the GI bill which allowed an entire generation to attend college for free. So yes there was a time before student loans but there was also a time when you didn't need them to attend college. Your posit that college has never been a ticket to financial security is false, there was a time in this country when those with a college education found better and higher paying jobs. This is a multilayer problem, you need a degree to get a job (70% of jobs now require a degree), you need loans to get the degree because tuition has skyrocketed and even if you choose a "cheap" school there's no guarantee they won't raise tuition on you while your there, the interest rates on these loans are obscene, and in our current economy there are no jobs so you can't pay back your loans.
California university chancellors prefer to increase tuition and student debt. University of California Berkeley Chancellor Birgeneau hijack’s all our kids’ futures. I love University of California (UC) having been a student & lecturer. But today I am concerned that at times I do not recognize the UC I love. Like so many I am deeply disappointed by the pervasive failures of Regent Chairwoman Lansing, President Yudof, Chancellor Birgeneau from holding the line on rising costs & tuition increases
Chancellor Birgeneau has molded Cal. into the most expensive public university. Paying more is not a better education.
Californians are reeling from 19% unemployment (includes: those forced to work part time; those no longer searching), mortgage defaults, loss of unemployment benefits. And those who still have jobs are working longer for less. Faculty wages must reflect California's ability to pay, not what others are paid.
Current pay increases for generously paid University of California Faculty is arrogance. Instate tuition consumes 14% of Ca. Median Family Income!
Continued…Paying more is not a better education. UC Berkeley(# 70 Forbes) tuition increases exceed the national average rate of increases.
UC President Yudof, Cal. Chancellor Birgeneau($450,000 salary) dismissed many much needed cost-cutting options. They did not consider freezing vacant faculty positions, increasing class size, requiring faculty to teach more classes, doubling the time between sabbaticals, cutting & freezing pay & benefits for chancellors & reforming pensions & the health benefits.
They said such faculty reforms “would not be healthy for UC”. Exodus of faculty, administrators? Who can afford them and where would they go?
We agree it is far from the ideal situation, but it is in the best interests of the university system & the state to stop cost increases. UC cannot expect to do business as usual: raising tuition; granting pay raises & huge bonuses during a weak economy that has sapped state revenues & individual Californians’ income.
The sky above UC will not fall when Chancellor Birgeneau is ousted.
Opinions? Email the UC Board of Regents [email protected]
Sounds like you put exactly the wrong people in charge! Who would have guessed they'd waste no time mobilizing into an aggressive cronyism and a purely extractive mindset. It almost reminds me of what seems to have been going on here for the past several years…
Nobody’s perfect, but some higher education chancellors are much less perfect as stewards of public funds than others.
UC Chancellor Birgeneau does not have a grip on financial realities. Trust the evidence.
Pays ex Michigan governor $300,000 for lectures
Tuition increases exceed national average rate of increase.
University accrues $150 million of inefficiencies over his 8 year reign
Recruits (using California tax $) foreign students who pay $50,600 and displace qualified Californians.
Spends $7,000,000 + for consultants to do the work of senior Cal. management.
(Prominent East Coast University accomplishes same 0 cost).
In procuring $3,000,000 consultants failed to receive proposals from other firms.
Latino enrollment drops out of state jump 2010(Krupnick Contra Costa Times).
Best in nation rank: # 70 Forbes.
Academic rank: QS academic falls below top ten.
Tuition to Return on Investment drops below top10.
Cal now is most expensive public university.
NCAA: absence senior management oversight, basketball program on probation.
.
"They said such faculty reforms “would not be healthy for UC”. Exodus of faculty, administrators? Who can afford them and where would they go?"
Rice University (in Houston) just recruited (bought) 3 of UC San Diego's best researchers. UC budget cuts were cited as a primary factor for the professors leaving. Rice also acquired MIT's chair of materials science and engineering. So yes, there places that can afford top talent.
http://www.signonsandiego.com/news/2011/may/27/uc… http://engineering.rice.edu/NewsContent.aspx?id=3…
Let the professors go. Good for the faculty that left and good for the university they left. Now there is room for others to grow into the vacated roles.
Faculty wages must reflect California's ability to pay, not what others are paid.
Yes I think a lot of this high profile research nowadays is equipment intensive. The problem I suppose is making sure people of the "right" New England lineage are there at the end of the process to claim the output as their own 🙂
I think California can find people to do their R&D. But doing R&D while simultaneously fighting off the Swarm…well…
Doesn't anyone worry about the Student government is trying to jack up fees over 10% to pay an new stadium?
<div id="idc-comment-msg-div-228992289" class="idc-message"><a class="idc-close" title="Click to Close Message" href="javascript: IDC.ui.close_message(228992289)"><span>Close Message</span> Comment posted. <p class="idc-nomargin"><a style="text-decoration: none;" class="idc-share-facebook" href="http://www.facebook.com/sharer.php?u=http%3A%2F%2Fthedailycougar.com%2F2011%2F11%2F22%2Fdebt-forgiveness-group-sends-wrong-message%2F%23IDComment228870557#IDComment228992289&t=I%20just%20commented%20on%20Debt%20forgiveness%20group%20sends%20wrong%20message%20%2F%2F%20thedailycougar.com%23IDComment228870557%23IDComment228870557" target="_new"><span class="idc-share-inner"><span>Share on Facebook</span></span> or <a href="javascript: IDC.ui.close_message(228992289)">Close MessageCampus chancellors are the problem at University of California Berkeley..Chancellor Birgeneau has molded Cal. into the most expensive public university. Paying more is not a better education.
Californians are reeling from 19% unemployment (includes: those forced to work part time; those no longer searching), Paying more is not a better education. UC President Yudof, Cal. Chancellor Birgeneau($450,000 salary) dismissed many much needed cost-cutting options. They did not consider freezing vacant faculty positions, increasing class size, requiring faculty to teach more classes, doubling the time between sabbaticals, cutting & freezing pay & benefits for chancellors & reforming pensions & the health benefits.
They said such faculty reforms “would not be healthy for UC”. Exodus of faculty, administrators? Who can afford them and where would they go?
We agree it is far from the ideal situation, but it is in the best interests of the university system & the state to stop cost increases.