You pay $500 a month?
Damn...
I am the better part of £30,000 in debt from studies but it is paid back straight from wages like an extra tax and at a percentage of whatever I earn over £15,500. I pay about £10 a month at the moment.
Does anyone have any experience in this, specifically with working for a non profit organization? Whats the most ideal way to go about this?
I read they picked a college that was really shitty and forgave all the loans from one of thier accounting majors because none of those people came out qualified.I still have about $16,000 remaining I think.
I have not worked with any non-profits, I have actually meant to do this and other BS has popped up and I’ve put some things on the back burner.
Anyhow, StrikeDebt and their other group RollingJubilee, are two such groups that I am aware of, although they are really one.
They buy up debt for pennies on the dollar and then instead of collecting it, they void it. I imagine you would have to contribute something monetarily to get your debt on the list to be nullified, but I’m not sure…maybe not. I also am not sure how they select the next person’s debt…is it in order, or a lottery?
Still, it would be a worthwhile thing to do if you still owe a crapload and have a smaller income to live on.
Disgusting how much in debt the average American is…most of it, in order to become educated so you can subsist in middle-working-class limbo and die broke.
Any way I can stick it to a debt collector or a scumbag hedge fund manager I will.
I read they picked a college that was really shitty and forgave all the loans from one of thier accounting majors because none of those people came out qualified.
Up here you apply to the government for your student loans. Usually a significant portion of it is treated as a grant and is forgiven when you complete school. After you are finished school you have six months where you do not have to pay your loans. When your loans come due the interest rate is quite low and you can apply for a deferral and continue to do so until such a time you can afford to pay it.
Student loans here are something you cannot consolidate into other debt nor can you file for bankruptcy and have the loan forgiven. For the most part people who choose to use student loans in Canada won't be too grossly into debt, though some people are depending on varying factors.
That is the same with the student loans debt here in the US…but, people don’t really look into the myriad of ways to get rid of their student loans.
Most people think that becoming disabled is the only way, it’s not…here is a good link - http://www.marketplace.org/topics/your-money/numbers/how-get-rid-your-student-loans-without-paying
Here is a link to the ebook -"60+ Ways To Get Rid Of Your Student Loans (Without Paying Them)"
One form of mass civil disobediance would be for tens of thousands of students to all agree at the same time to not pay their debts...just default and let the government write the debts off
There is a growing group that is doing just that.
Here a really great article - Top 10 Reasons You Should Stop Paying Your Student Loans.
And this -
I Said No to My Student Loan: One Borrower's Decision to Stop Paying
I am aware of the total lack of consumer protection associated with student debt.
But I took a long, hard look at the numbers, and I realized that I am already a slave.
http://www.alternet.org/story/15331..._loan:_one_borrower's_decision_to_stop_paying
Oh nice one!
I listened to an interview with david graeber speaking about the issue recently and he mentioned the 'strike the debt' group i know you know about and about a campaign to get people to default as a mass civil dissobediance movement; he wasn;t just speaking about student debt either
One of the barriers he mentioned to the success of such a project is that most regular folks have an ingrained sense of a social obligation to always repay a debt
Now thats a nice trait of humans...it shows most humans abide by a natural sense of fair play but i think there are times when people can kick up a stink....and i think now is one of those times
The reason being that the banks have behaved criminally and they did not follow through on their social obligations; for example the banks got the current fractional reserve system going by claiming it would raise the quality of life for everyone and it hasn't
So i think in moral terms i think people are justified in sticking it to the banks because the banks have stuck it to us first!
Whadya reckon?
Wouldn’t such a case brought forward in a court of law and into the public eye be such a wonderful thing?
Maybe they could answer why we now have to take out a fucking mortgage just to become educated enough to survive in society?
Who decided that they would privatize everything (supposedly there would be this magical competition that lowered prices) and what we got was gouged.
But god forbid you don’t have a college education…you just won’t survive is what we’re told…so basically you are being strong-armed into taking on debt at a time you are just sinking or swimming already in the world.
What nonsense.
Why are we so damned stupid…I guess because no one can afford an education…but of course the private prisons have all the funding they need to build build build!
Insanity.
There is a growing group that is doing just that.
Here a really great article - Top 10 Reasons You Should Stop Paying Your Student Loans.
And this -
I Said No to My Student Loan: One Borrower's Decision to Stop Paying
I am aware of the total lack of consumer protection associated with student debt.
But I took a long, hard look at the numbers, and I realized that I am already a slave.
http://www.alternet.org/story/15331..._loan:_one_borrower's_decision_to_stop_paying