Students are rallying today to call for a student loan debt relief

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Screwed by an enormous burden of debt, students around the nation are rallying today and calling for a student loan debt jubilee. The total amount of outstanding student loan debt has now topped one trillion dollars – outweighing credit card debt and automobile debt for the first time ever.

The Occupy Movement is leading the rallies today – calling for students across the nation to come together and pledge to not pay back their student loans – pressuring lawmakers and banksters to have to eventually forgive the massive debts. To make matters worse for students – the interest rate for federal student loans is scheduled to double in July if Congress doesn’t act.

President Obama appeared on Late Night TV to urge Congress to act quickly to provide relief for students, but Republicans so far aren’t budging. Of course the easiest way to fix this problem is to do what most of the other developed nations in the world do – consider higher education a basic right and send their young people off to college for free.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 10:59 am


Misdirection du jour.

Banksters want to continue gravy train and have focus on interest rates -

Wall St. wants to continue student loan derivative gravy train and focus on interest rates -

Diploma Factories (those other paper fraudsters) - want to continue to create wealth out of thin air by getting lots of actual cash, up front, for virtually worthless asset [may sound familiar to homeowners] - want focus on interest rates.

We used to enforce our rules against counterfeit and fraud. Today it's look the other way and find a way to keep propping up the artificial markets (at least through the next election cycle).

So now that Americans see what the Banksters did with all that TARP money (used it to create debt traps for the younger generation after having extracted the parents' and grandparents' ability to finance the kids' college educations) - why do we still believe there's a meaningful difference between the D & R?

Rodger97321's picture
Jul. 31, 2007 4:01 pm

I received the following email on 4/25 from :

"1-T Day" National Day of Action on Student Loan Debt

As you may already be aware, today is "1-T Day" - the estimated date on which student loan debt will officially hit a mind-boggling ONE TRILLION DOLLARS. As a result, hundreds of organizations and individuals are participating in a National Day of Action to mark this extremely important, highly disturbing milestone.

To that end, has, once again, collaborated with Kyle McCarthy, Founder of, as well as LoanReformNow's RaeAnn Roca, to create a new website:

As our petition in favor of The Student Loan Forgiveness Act of 2012 quickly approaches our goal of one million signatures, no doubt you'll be called upon by friends, family and co-workers to defend your support of the bill. is intended to be your one-stop destination for all things related to this groundbreaking bill.

Not only does the new site provide easy-to-navigate links for you to use to help spread the word and raise awareness about the bill, but it also contains a whole host of resources to help sharpen your arguments, explain why this bill is needed and how it will help to jumpstart our floundering economy.

Please join millions of others across the country participating in today's National Day of Action by visiting and start spreading the word!

Thank you, as always, for your continued support. Together, we're going to fundamentally change the way in which we pay for higher education in America - but it's going to take some work, so let's get started!


Robert Applebaum
Follow me on Twitter: @bobbyapples
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This message was sent to __________ by Robert Applebaum from the system. Civic Action sponsors, but does not endorse specific campaigns or the contents of this message.

Jul. 7, 2011 12:13 pm

Hi! Here in Québec students are on strike for 11 weeks to stop tuition hikes. The government don't want to negociate and are trying to divise the movement by blaming the students for violence.

Here's a video of the demonstration on 22 march where 200 000+ people demonstrated peacefully.

Even the police congratulated the people for thier good behavior. Almost no act of violence occured. But the governement did not want to negociate.

Now things are starting to get intense since a few days.

deadhead's picture
Jul. 31, 2007 4:01 pm

I know how we fix the student loan problem. if you do not want to have huge student loans when you get out of college dont borrow the money. get a job and pay as you go that way when you are done you have zero debt. I know this is an alien concept to some but it really works.

workingman's picture
Mar. 20, 2012 8:13 am
Quote workingman:

I know how we fix the student loan problem. if you do not want to have huge student loans when you get out of college dont borrow the money. get a job and pay as you go that way when you are done you have zero debt. I know this is an alien concept to some but it really works.

Depends on where you are and what the school is. Small local colleges is where that can and is being done all over the country. My oldest son did it. That was with a yearly tuition of about $8000 to begin with and of course climbed every year. That would be considered cheap compared to many other colleges out there. It's kind of hard to go to school full time and being a student, find a job that pays $50 Grand a year. A lot of these kids are hitting the streets with a degree in one hand and a $200Grand debt in the other at eh age of 21. Now if professionals are still paying off their school loans when they are 45 years old and after 20 plus years of good employment, how can a kid pay for his tuition in 4 years and go to school at the same time. The math doesn't add up.

Bush_Wacker's picture
Jun. 25, 2011 7:53 am

I agree with workingman here. That's what I did. It was probably easier when I did it in the 1980s. On the other hand, we probably need more scholarships for students in engineering, science, and medicine so that they spend less time working and more time studying and applying their education sooner.

Jul. 31, 2007 4:01 pm

Of course they could just forgive the loans if say 10% is paid back.

Of course had the FED been disbanded under a Chuck Baldwin Administration, we'd be in an economic recovery and students would be able to get jobs to pay back the loans.

Of course it is going to take a crude crash course in economics to wake many Americans.

antikakistocrat's picture
Apr. 18, 2012 3:41 pm

I'm OK with forgiving their loans, just so long as I get equal treatment. If these people have $50k in student loans, give them $50k, give me $50k, give everyone $50k.

Jul. 31, 2007 4:01 pm

Iceland did it, the other countries of the world can do it too.


Iceland forgives mortgage debt of its population

The people in Iceland rose up and kicked out the OLD politicians and now have put them AND their banker buddies on the bench of the 'ACCUSED'.

So, America? Nothing can be done in your neck of the woods?

antikakistocrat's picture
Apr. 18, 2012 3:41 pm

The America I Knew Has Almost Disappeared

Like an alcoholic family that won't discuss alcoholism (and proving Don Quixote's warning to never mention rope in the home of a man who's been hanged), far too many Americans are unwilling to acknowledge or even discuss the ongoing collapse of democracy in the United States.

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