Saturday, October 29, 2011

Filed under "Now why didn't I think of that?": A "conversation" that we should all have with banks...

One of the tools you'll need? A shovel, to dig
out of the mountain of bullshit debt...
The other day, it was announced that student loan debt in the United States will exceed more than $1 trillion before the end of the year. That's $1,000,000,000,000 dollars in student loans. Why has this happened? Well, there are many detailed, technical reasons, but most analysis (including the mainstream one here) fails to mention that, ultimately it's because it's not a national priority. Unlike, say, most European countries. Like everything else in the United States, we have our priorities upside down: $2 - 4 trillion for war, government loan offers for students who pay exorbitant rates for higher education. This is more than all the credit card debt combined. According to NPR, "two-thirds of college students now graduate with debt, owing an average of $24,000. But some borrow far more and find this debt influencing major life decisions long after graduation."

So, what's an impoverished student or recent grad to do? Well, there are strategies for going to community college for the first two years, for those who want to live in the US. That could help reduce some fo the cost. And there are strategies for going to school abroad. But how can students and recent grads with loans let the banks know how they feel about offers of crushing indebtedness, while supporting Occupy Wall Street?  Well, this guy has a good suggestion for keeping the banks occupied (props to Taryn at Plutocracy Files for turning me on to this):

Bonus Points: Help the struggling post office! Hey! 

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