Monthly Archives: November 2015

Why I Believe A Mass Movement is Necessary to Change Our Student Loan Crisis

.Student loan debts are becoming increasingly hard to pay off. Interest rates are too high and the degrees we went to school for are simply not helping us find jobs. I believe a massive movement of debtors simultaneously defaulting their loans would successfully provide a change that the higher education system desperately needs.

Image from Google

Image from Google

Everyone knows that individually defaulting on your loans brings about serious repercussions that would undoubtedly bring on a lot more hardship than when you were paying your debt; there is no doubt about that. But defaulting in mass would instead eliminate those sorts of problems. A movement like this would take away the  individuality because it would create a larger sense of a problem. Those in charge would be thinking about the situation as a whole and not about targeting the individuals.

If officials were to instead speculate on the individual midst of a larger problem, then we really need to consider what kind of government we are currently under.

Now if we take the time to look at other movements like Black Lives Matter, they all have been done in mass without repercussions to the individuals involved.  Instead movements such as these have brought forth many achievements. So far they have achieved raising the awareness to important questions about our justice system. Because of this movement we now have police officers wearing cameras on their person.

In another case, in the CSU system, recently in years previous professors went on a campus wide strike where they cancelled classes in order to pressure those in charge to give them a much needed raise in salary. This then resulted in those in charge granting the professors a small raise. Despite the raise still not being enough, there was rapid movement on behalf of the other side.

Looking at another important mass movement that brought us to where we are today, the Civil Rights Movement in Mississippi. Before it blacks were not allowed to eat, shop, vote or attend the same colleges as everyone else. This movement is now the result of integrated schools, jobs and political statuses. Not too long ago was our first black president elected, an act that too was a result of this movement. While it was a triumphant movement there were also hardships endured throughout the whole process.

Image from Google

Image from Google

A mass movement isn’t easy. They consist of hardship, patience, and persistence, but they are a necessity so that society may continue to unfold and progress in better ways than they are.

Looking at these examples and endless more we know that if we act in mass, there will be movement and there will be change.

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Why A Massive Movement of Defaulting Student Loans Wouldn’t Work

As of late there has been much speculation on how to fix our student loan debt crisis. Some have come to the conclusion that having a massive and collective student loan debt default movement is the answer to fixing our problem.

strike-debt-better

Image from Google

But those who oppose believe that a movement like this would not be a successful endeavor because no one would actually make the decision to default seeing as the consequences that arise afterwards are too harsh.

As mentioned previously student loan debts are the hardest loans to get rid of and if you decide to default there so many factors that could worsen your situation. One of the biggest and most intense repercussions is that the moment you default your pending balance is due all at once instantly. A burden you were so hopefully trying to get rid of all of a sudden comes knocking at your door at full force seemingly all the more worse and frightening.

A commenter on the NY Times, a “divorced mother of three in the late 1980’s”, defaulted on her loans and this is what she said regarding her experience in defaulting, “With default, penalties and interest continue to accrue; collection agencies hounded me relentlessly. I have never fully recovered. My debt is now over $25000 with penalties and interest.”

The moment your account goes into default you completely lose the privilege to be a part of any sort of payment plans, and to receive financial aid in the future.  I’m not sure what’s worse if the fact that interest rates continue to pile up during default or that you run the risk of having a percentage of your paycheck withheld so that it then be distributed to your outstanding debt balance.

As a commenter on the website Quora said, “ Defaulting on student loans is emotionally draining — nobody wants to be characterized as a deadbeat.” The onset of new problems that arise when you default also affect your emotional state in the sense that your stress isn’t alleviated but instead intensified with the new repercussions that come with defaulting.

Image from Google

Image from Google

Those who oppose believe that the situation that defaulting your loans places you in is a much worse state to be in than if you didn’t default and that is why a massive movement of student debtors would never actually happen; people are all too aware of what happens if you do.