Sunday, July 13, 2014

Yes! Both Federal and Private Student Loan Bankruptcy Have Got to Be Reinstated,But There's More!

I have been following the student loan debt  now for the last several years,and in my opinion this crisis is now at the crossroads. The more I look at the $1.2 Trillion Student loan debt, and  for those of you that have not been following this debt crisis; I believe you should know the scary fact is the $1.2 Trillion student loan debt it's growing faster today than ever before! I promise you the President or Congress are not going to tell you this,because they have too much riding on the huge profits this debt is generating for the lenders,collection agencies (student loans), lobbyist,special interest ,and our very own government. I will yell.... this from the rooftops when it took $7 Billion to elect the President and Congress the last election and now with the new Supreme Court rulings this amount could easily double! Can you just image $14 Billion spent to elect career politicians that have an approval rating at an all time low of 16% Gallup...12.8% Real Clear Politics ? How in the world is this possible???

I believe it's important that you know the senate race in Kentucky which is now estimated to cost
$100 Million...  the most expensive race in history ...with an estimated 75% of the funding coming from out of state?....

.......Just remember once that magic $100 Million has been broken it tends to become the norm

In today's world where Jon Stewart.....
and Stephen Colbert who viewers are saying they are learning more from than the actual news

We now have............

       The (fake) Campaign touts Gil Fulbright as the nation's first honest Politician.


The above is to show you it's all about the huge profits and the huge amounts of money being spend
to keep the same old ..same old in place!

I use children...our young adults going off to college through out this post I mean it in the most respective way.I have no hidden agenda I am very clear in what I believe. I want you to know I believe in the best possible education for every child.
Yes... I believe every child should be afforded the opportunity to live the American Dream!

I will start this by saying there are still a great number of individuals that truly care about our children's education.There are others that have bought into the lie; that these corporations only have our children best interest when in fact it's the bottom line, and about the huge profits they are generating with the unsuspected help of these individuals. The problem I see is the whole education system is broken and out-dated, and worse yet has been corrupted to very the core. The education system is now more about the huge profits being made off our children than the education we should be providing our children.

I will tell you our children will provide the only future our great country has left! We as a Nation better come together an correct the mess that the 535+1  along with the lenders, collection agencies(student loans), lobbyist,special interest groups......and..... the select few have created.

Just food for thought some examples.....  Why don't we start with something as simple as the cost of Text Books..not sure about this one ask your son or daughter..that's in college. What about tuition and this is very conservative answer from 1982 to 2007 tuition has risen 439%  3x the rate of the 147% cost of living increase?  More and more... $Million contract for college presidents?
the list just goes on and on and on..............

I have said since I started this blog it's the simple common sense solutions that will get us out of this mess.The reason we're in this mess is because of the huge thirst for power by the Politicians, and by the huge profits the corporations now think their entitled to?

The paragraph below is a summary by Alan Collinge

The federal student loan system has become predatory. The root cause of this is the unprecedented removal of all meaningful consumer protections, and the establishment of draconian collection powers, which caused the lenders, guarantors, collectors, and even the Department of Education to make more income when students default on their loans. The wrongly directed financial motivations caused, over time, the system to be inclined towards acting in ways that would promote, rather than discourage defaults. In this environment, damaging consequences resulted including an incredibly high default rate, heinously bad or nonexistent oversight, uncontrolled inflation, indefensible corrupt activities (systemwide) and other systemic failures too numerous to list. These results are in addition to the personal damage and destruction that has been visited upon citizens who were trapped in this predatory system, and their families.

Please read the argument...........

I will add that a student just doesn't say I'm going to declare bankruptcy, and walk away from the debt. Bankruptcy is determined by our court system that has been put into  place to protect all American citizens!

First things first  there has got to be Real checks and balances put into place......
Second..... Real Accountability ...go to a Real jail..accountability...why again do we have white collar crime jails.... oh they're non-violent that don't hurt anyone.... really?? Then what did Corporate America do and most say no one of importance when to jail....and all the other ponzi crooks.....Huge Fines.....
Oh that right!.... the Corporations would just declare bankruptcy......
This is something our own children are not allowed to do because their student loan consumer protection rights have been taken away ...............................Real Accountability!

I want to make sure your aware that even a gambler can declare bankruptcy? How is this possible while every day more and more children are defaulting on their student loans.

We talk about educating our children and how important it is, but we don't have classes in school teaching our children about student loan contracts and the consequences in signing their lives away; that today is more and more possible with lack luster economy,and lack of jobs

This along with corporations sending our jobs overseas, and and their huge profits offshore never to be seen again.........Oh did I forget many of these corporations are paying little or no taxes at all!

I started Project Tuition Reimbursement because of the huge profits that are being made off the backs of our children and the lack of concern for our children future.I know that there are simple common sense solutions to solving the $1.2 Trillion student loan debt.First the huge profits have got to be taken out of education in general and this problem now starts from a very early age...... not just college.

I will be called the "crazy old man"...because I know in my heart there are real solutions. I am dyslexic and have always had to think outside the box to find answers that seem to come easy to most, and if this is what it takes to find solutions to our extremely corrupted high cost of education in America so be it.I know if we take out the huge profits that are being made off our children there can and will be solutions.

I want you to know this fight for the reinstatement of  both Federal and Private student loan bankruptcy... the same consumer protection that you and I enjoy.This is not about left against right, or Republican verses Democrats......
This fight.... this injustice is about right and wrong......and this law is just plain Wrong!
When America is not even listed in the top 10 counties in education in the world we have a very serious problem!

I ask you to go back and read some of my solutions some I think are very good.... some not so much, but at least I'm trying. I ask each of you for 1 solution.... together we will find the solutions our great country youth deserve!

This post is not finished  there will be more to come...but today I will leave you with this

"A baby comes into this world with only hope...the only gold we will leave this earth with is our word"

Anthony Eller