It's interesting but not entirely surprising that one of the foci of the 'occupy' people (possibly the main focus) has been student loan debt. But not even due to the reason that a bunch of the 'occupiers' are students or professors and such, but because moveon.org started a meme about forgiving student loan debt back in the middle of September, which is about the same time that the 'occupy' movement began.
It's not a coincidence that in a study done on the demographic makeup of the 'occupiers', that 92.1% were college-educated and that 52% already had some experience 'protesting' under their belts.
Now I know some folks who came out of their undergraduate work with an extraordinary amount of student loan debt. They blamed university personnel for 'letting them' sign on for such large figures. But they weren't complaining when they were using it to pay their rent, buy their groceries, and in general use it to live rather than work while getting their degree. It was only after the time to came to pay the piper, that the complaints started.
A friend had called me all excited about the petition to forgive student loans debts until I explained the financial realities of doing so--another trillion dollars added to the national debt and, since the loan program (should) rely on payments coming in so they can use that money to loan to new students so those would be SOL since there would be no more money to loan without AGAIN increasing the national debt.
There is no doubt that the student loan system is broken, but that's what happens when government does a wholesale takeover of a formerly free enterprise kind of situation. But these folks are just going to have to suck it up, because the feds have also stacked the deck so that student loan debt cannot be discharged in bankruptcy.
But I don't think it's a coincidence that the petition went out within a day of the 'occupy' movement starting. Anyone who still thinks that the 'occupy' movement is grassroots is seriously in denial of reality.
6 days ago