While searching the net to learn more about the student debt crisis, I came across an interesting website. This website discussed a new movement that is starting to sweep our nation. It is called “Occupy Student Debt.” I had to go and figure out more about this. I have only heard about the Occupy Wall St. Movement. I decided to do more research on this movement and investigate. They participate in strikes and also support others that deal with this cause. The movement has four different beliefs/principles that they are trying to get across to the public. The first principle is for public higher educations to be tuition free. They feel this would be the greatest step to relieve student debt. If college is free then you don’t have to take out loans to pay for college. To cover the cost of this would be to end Bushes Tax cuts or to cut the wasteful spending at the pentagon. The second principle is to have zero interest student loans. They feel that student loans are not consumer loans therefore they should not be consumer credit debt. They feel that students are being extorted with such high interest rates. They are paying a vast amount of money, but lenders know that students cannot pay it back anytime soon. The third principle is that private colleges should open their books. Students at private and for-profit universities should know where their money is going. This places run off of student loans, but experience a tax-free lifestyle. People should be more aware and allowed to see what these colleges and universities are doing with the money given to them. The last principle is to have student debt written off completely. Debt has been accumulating for decades and students are being humiliated. It would be better to just erase their student debt. It is also tipping the scales at over a trillion dollars.
They even have a debtor’s pledge for people to sign.
Sign The Student Debtors’ Pledge of Refusal
As members of the most indebted generations in history, we pledge to stop making student loan payments after one million of us have signed this pledge.
Student loan debt, soon to top $1 trillion, is poisoning the pursuit of higher education. With chronic underemployment likely for decades to come, we will carry an intolerable burden into the future. The time has come to refuse this debt load. Debt distorts our educational priorities and severely limits our life options.
Education is not a commodity and it should not be a vehicle for generating debt, or profit for banks. Education at all levels –pre- K through Ph.D. — is a right and a public good.
* We believe the federal government should cover the cost of tuition at public colleges and universities.
* We believe that any student loan should be interest-free.
* We believe that private and for-profit colleges and universities, which are largely financed through student debt, should open their books.
*We believe that the current student debt load should be written off.
In acknowledgment of these beliefs, I am signing the Debtors’ Pledge of Refusal.
This is an interesting movement. I must do more investigation to get a better understanding. I agree with some of their principles. They are focusing on the students in this nation, which have often been ignored. Not everyone is born with a silver spoon. They do not have the luxury of having their parents pay for college. Often colleges take advantage of their students. They offer classes only at certain times that can hinder a student. This can make them graduate must later and allow the university to get rich off of their students. This movement would allow an equal playing field and allow everyone to get a college education.