I have been reading the argument on how people sign the contract and should be liable for their debt they are incurring from their student loans. How many actually read the document and how many were encouraged by television ads and other media or even friends and counselors at school that getting a higher education is the way to go. I realize now that higher education was a wonderful thing, however not worth the cost of it. Education in this country should be free, then we would not care as much how terrible our politicians are today and how worthless our government is as a whole. People need to stand up for what they believe and wake up to what is happening.
Years ago I went to college to study accounting, and like millions of other Americans I took out loans to pay for it. A few years later I got a temporary job in the accounting department at Bain & Co., and after 6 months of reliable work I was thrilled to be offered a full-time position.
However, just a few weeks after starting in my new position the company fired me because my debt-to-credit ratio was too high. I later learned that 60% of employers now check credit reports, which typically include student debts. How are you supposed to pay off your student debts if you can’t get (or keep) a job BECAUSE of your debts? And what do my student debts have to do with my ability to do a job well anyway?
25 states have debated bills in the last year to restrict this practice, and in a number of these states one company has fought hardest against these efforts: credit reporting company TransUnion.
What’s ironic is that Penny Pritzker, TransUnion’s Chair and part owner, sits on President Obama’s Jobs and Competitiveness Council, which advises the President on putting Americans back to work. How can someone advise on national job creation when her company sells products that may keep qualified people out of work?
Please join me and 25 national civil rights organizations in calling on TransUnion to stop its sale of credit reports to employers. As the only one of the “Big 3” credit reporting companies that’s privately held, TransUnion has the ability to stop this practice overnight.
It was recently announced that in the coming weeks TransUnion will be sold to two private equity companies, including Goldman Sachs. If Penny Pritzker is serious about job creation, she should do what she can to ensure that her company stops this abusive practice before the company is sold.
Click HERE to sign Latoya’s Change.org petition
Pls RT: what does my student debt have to do w/ my ability to do my job? #StopTransUnion #OccupyStudentDebt #UniteHere http://www.change.org/petitions/transunion-stop-selling-credit-reports-to-employers
An outline of tuition fee increases in Quebec from the 1970s to the present day.
1970-1985 Tuition fees: $500
1985 Tuition fees: $500 The Parti Quebecois wanted to increase student tuition fees by $47. The students threatened to strike and the PQ gave up their attempt.
1986 Tuition fees: $500 The Liberals proposed an increase in tuition fees by $47. Students went on strike for two weeks and Premier Robert Bourassa kept the tuition freeze.
1990 Tuition fees: $500 The Liberals proposed an increase of $280 each year over four years. Students protested in Montreal and Rimouski for a month. Bourassa held his position and the increase went through.
1994 Tuition fees: $1668
1996 Tuition fees: $1668 The Parti Quebecois tried to increase tuition fees. After a month of protests, Education Minister Pauline Marois kept the tuition freeze, but imposed a fine on CEGEP students who failed more than five classes.
2005 Tuition fees: $1668 The Liberal government changed $103 million worth of bursaries into student loans. The students protested for eight weeks.
2006-2007 Tuition fees: $1668 The Liberal Minister of Education, Jean-Marc Fournier changed $103 million worth of loans back to bursaries.
2007 Tuition fees: $1668 The Liberals announced a tuition fee increase of $500 over a period of five years. The students responded with a relatively week protest lasting a few weeks and the increase was confirmed.
2012 Tuition fees: $2168 The Liberals proposed a tuition fee increase of $325 each year for five years. Student protests started February 14, 2024 and are ongoing.
I borrowed $70,000 total (federal and private). After a year of deferment due to not being able to find a job right away, I now owe $92,000. Wells Fargo almost didn’t let me defer. I make $29,000 annually. I’m a music teacher.
Outstanding Balance: $7,904.52View Payoff Details Scheduled Payment $200.00 on 3/14/2012 Monthly Auto-Debit 108.67 on 9/28/2015 Last Payment:
$2,400.00 on 2/2/2024
Status:
Multiple
Benefits/Details View Loan Benefits and Details
I am paying and paying and paying, came from Poland, study English and Economics in Central Connecticut State University and I am not a deadbeat. I took $14,000 for my Bachelor degree and I have 3 more semesters until I graduate. I will graduate without taking more loans, as I found a way to get grants and scholarships until graduation. Anyway, I borrowed $14K, paid $6,100 so far and still owe $7,900! Why is college so expensive? I pay $200 each week but the balance is moving so slow. Is there any option to get the hell out of the balance?
I tried to set up payment plans on my student loans, but they wanted astronomical down payments that I didn’t have. I let my loans default until they required wage garnishments. They take 15% of my salary. For a while I had two separate garnishments, one to Wells Fargo and another to Texas Guaranteed. Wells Fargo is now paid off. Now $622 comes out of my check monthly. I still owe over $13k. They also take my income tax refund each year.
At a time when young people should be planning their lives, many now are faced with inescapable lifelong student debt which sucks away most of their disposable income.Many in our generation wake up every morning and realize that we will never be able to afford a car, a home, health insurance, or even to start a family. The American Dream?Gone.
Since 1978 college tuition has skyrocketed over 900% while, simultaneously, funding for grants continue to be slashed. The result?Students are forced to mortgage their futures with non-dischargeable student loans. Since 1999, student debt has increased by 511%,nearing $1 Trillion.
To make matters worse, at least 1 out of 5 students currently DEFAULT on their loans, resulting in devastating consequences, including: exorbitant fees and penalties, exploding and usurious interest rates, destroyed credit ratings, possible suspension of driver’s licenses, possible suspension of professional licenses, and more.
We stand in solidarity with everyone that is fed up with this predatory lending system.We are OccupyStudentDebt.This is why we occupy. We are the 99%!
