ESCONDIDO - rally for student loan forgiveness
Amnesty for Student Loans Now!EDITORIAL - Oct. 25, 2011
The 99% Occupy Movement calls for forgiveness of student loan debt. The ProgressivePost gives its full support to solving this ticking economic time bomb before it explodes. The total indebtedness from student loans now exceeds $1 trillion, greater than the total national credit card debt.
The "99% Rally in Escondido" on Saturday, Nov. 5 in downtown Escondido
is our rally to denounce this insufferable and criminal situation. Meet at the corner of Escondido Ave. and Valley Parkway at 9:00 AM (near Starbucks and Wells Fargo Bank).
"Thanks to the horrific 2005 bankruptcy bill, one of the most nakedly venal modern examples of Congress serving the interests of the rentiers and creditors over the vast majority, debtors cannot discharge student loans through bankruptcy." wrote Alex Pareene in Salon (see article elsewhere in the ProgressivePost). "The government is shielded from the risk, and creditors are licensed to collect by almost any means they deem necessary, giving no one in charge any real incentive (beyond basic human decency) to fix the situation."
This is the demand of the ProgressivePost: The Federal Reserve pay off all student loans for the first $25,000 debt and 50% forgiveness on all debt over that. This time the Fed injects liquidity into the banks and loan institutions, but the American people get something extremely valuable in return - the freedom of our youth. We demand their freedom from the shackles of student debt!