"We know that the system is incredibly predatory and that it’s a racialized system, as well. Debt collectors target low-income communities of color regularly with predatory tactics, like entering judgments against them in court, things that they cannot defend themselves against, and then they’re able to make claim to their bank accounts and any assets that they have."
"More than a year after the Occupy Wall Street movement was forcibly evicted from Zuccotti Park, aka Liberty Square, in Manhattan, the movement has returned full force with new energy flowing into two directions: Occupy Sandy and Strike Debt. Later in the hour we’ll hear about storm relief efforts, but first, an offshoot of 2011 Occupy Movement, has put together a project called “Rolling Jubilee” to put an end to the crushing burden of debt affecting millions of people in this country. Strike Debt is kicking off its campaign with a sold-out event called “The People’s Bailout” tonight which will will be streaming live online."
"Collection and credit rating agencies are very much part of the system that makes debt so crushing—they assign you a number that determines whether you can get a new apartment, sign up for utility bills, or buy the car that you need to travel to work. There’s an intimate connection between Wall Street and the secondary market where they sell defaulted debt. We want to reveal the system, and allow people to see it for what it is."Interview - In These Times
"Though the Occupy camps have disbanded, many organizers believe they’ve found the next big tent under which the year-old movement can regroup: debt. At the one-year anniversary celebration of Occupy Wall Street, members of the group Strike Debt distributed 5,000 free copies of a Debt Resistors’ Operations Manual."
"Also on CounterSpin today: Student loan debt will top $1 trillion dollars, we're told, even as Congress decides to let interest rates double on one sort of subsidized loan. Today's college graduates don't have anything like a guarantee of a job, but millions of them do have the promise of years and years of debt, which many will simply never be able to pay. We usually talk about debt as a personal problem; student activists say that needs to change. We'll hear from Pamela Brown, of the Occupy Student Debt Campaign."
On today’s Your Call, we’ll have a conversation about student debt, which has surpassed $1 trillion, exceeding the total amount Americans are carrying on their credit cards. The average college graduate has more than $25,000 in student debt. With jobs hard to find, how are they coping? And who's making money off of student debt? Join us at 10 or email firstname.lastname@example.org. What's your student debt story? And what are the solutions? It’s Your Call, with Rose Aguilar and you.
"The Nation's editors composed this article.
The student loan crisis finally reached center stage in Washington after the House GOP budget called for letting interest rates double on government-subsidized loans (and for deep cuts in Pell grants and other student support). If it passes, students who borrow the maximum will end up paying as much as $1,000 a year in added interest. President Obama sensibly called for extending the lower rate, stumping at colleges and on talk-shows to enlist students and others in the cause."