Wednesday, October 1, 2014

Who Is Responsible for the $1.2 Trillion Student Loan Debt?

I have been waiting to write this post,because deep down inside I thought for sure there would be at least some improvement by now. Nope......just more and more lip service that everyone keeps on saying something has got to done,but the sad fact nothing is being done and our children keep going deeper and deeper into student loan debt.

Bloomberg  August 26,2013 (what do think another year has done to this to this %?)

College Cost Surge 500% in U.S. Since 1985!

While reports show that 76% of Americans now live from pay check to pay check!
http://www.cbsnews.com/videos/paycheck-to-paycheck-how-76-percent-of-americans-live/
Please tell me am I the only one that sees something terribly wrong with this picture?

I started researching the student loan debt about 5 years ago at the time the student loan debt was $850 Billion, I'm 59, but I don't feel that old, and I do believe  my mind is still working. I ask you am I the only one that it seems just like yesterday when you said millionaire you had it made? I make this reference, because
when we talk about these mass amounts of money owed. I know I can't ...can you  comprehend  $Billion...or...... let a lone a $Trillion?

I am going to add this to help all of us comprehend the difference...Our leaders throw these numbers like no big deal! My daughter helps to proof read my post and this is a suggestion by  Ashley:
When you are a million seconds old you are just....11.5 days old.... then to a billion seconds you would now be 31.5 years old....now.... the  next time Our President or Congress talks about it's only a $TRILLION  which adds up to wait...may I have drum roll please........trillion seconds we would be 31,688 years old.So now just imagine at $1.2 Trillion and how far in debt our Children are right this second, and remember the student loan debt is growing faster than ever before!

Now we talk in $Billions and the National debt is some where around$17 Trillion...and again as I just stated above ... while our children the very future of our great country have  $1.2 Trillion in student loan debt and the scary fact is this student debt is growing faster today than ever before.Please tell me when are we as Americans going to understand this is just plain wrong and correct this injustice.

The first step to a solution to the $1.2 Trillion Student Loan debt is the reinstatement of full consumer protection rights of student loans.The same consumer protection rights that each of us are entitled to as American Citizens.When student loan bankruptcy is reinstated all sides will be held accountable  the student...the colleges and universities,..the lenders..the student loan debt collectors... (the lenders who in case your not aware are now for the most part the student loan debt collectors as well.) The lenders lobbyist special interest and our very own Congress slowly changed the lending laws to allow this to happen. Why is this so important because the student loan default rate is now growing so quickly if changes are not made now it won't be long before more money(even larger profits!) are made on student loan defaults than the actual student loans.

I will remind you again that I have been writing about the student loan debt for 5 years now, and I am now more convinced than ever that until full student loan bankruptcy is reinstated there will be no real solutions to the $1.2 Trillion student loan crisis.There will only be short term fixes used to appease the few that truly seem to care ....while other ways are thought up by the lenders and their lobbyist to make even more deceitful underhanded huge ungodly profits off the backs of our children. You may say I'm nothing more than an alarmist...if that's what you think..Please just look a the numbers they don't lie.

I promise when we as a nation understand that education is not about making huge profits! That the educating of our children is about building a strong nation that will be able to defend ourselves in very sophisticated future, because we will continue to have  the world smartest  that will be allowed achieve their dreams.I will also promise you there will be 100's of other ways once this happens to get student loans to an affordable price for the low income, the middle class (if we're able to sustain a middle class) and the rest of America.

But this time.... there will have got to be real checks and balances put into place at all levels.Our colleges and universities  according to political scientist Benjamin Ginsberg " administrators and staffers out number full-time faculty members" more and more  the emphasis is placed on the student loan more so than the students!
College is ripping you off:Students are cash cows and the Schools are the Predators by Thomas Frank

http://www.salon.com/2014/10/01/college_is_ripping_you_off_students_are_cash_cows_and_schools_the_predators/

The emphasis has got be reversed.....Our children future depends on it... and the very future of our great country.

The answer to the question in the title.....who is responsible ?  each and everyone of us, because we have the ability with the power of our vote to get rid of every politician that is responsible for this corrupted mess.

While our children go deeper and deeper into student loan debt and this amount is growing larger every day.

We need real solutions to the $1.2 Trillion Student loan debt crisis now!

I promise you the $1.2 Trillion student loan debt will never be fixed until serious changes are made to the way our election presently work.....   when it took... $7 Billion to elect the President and Congress the last election!... and with the new Supreme Court rulings this amount could easily double in 2016.Can anyone imagine spending in the neighborhood of $14 Billion! to elect a President  with an approval ratings in the 30% range and Congress that on a good day has an approval rating of 15%-20% range! This is already happening in Kentucky ... the Senate race is estimated to cost $100 Million  with some 80%  of this money coming from outside Kentucky?....when this happens the $100 Million will become the new benchmark... the standard amount ($100 Million) to be spent on any race that is high profile...It's also reported that the candidate that spends to most money wins 94% of the time ...Our President and Congress have been bought and paid for. The sad part for those select few that do run on true integrity their votes are useless until we do a thorough swipe  and take our government back!

I know there is a cost to education I have never said differently.I just had my daughter Ashley do a guest post talking about what college has done for her, and the opportunities that her education created for her. I believe we have got to have a well educated society...A society that questions our leaders and holds them accountable.

I am dyslexic and I wear it as a badge of honor....because my gift of dyslexia has allowed me to recognize my weakness and turn them into strengths.....So....I ask you today... when are we going to recognize our weakness as voters that we  keep electing the same old Congressmen/women that are total failures? When are we going to turn this information  about the corrupted system into a strength as American voters........ What is it going to take to give our children their futures back?

I am going to leave you with two quotes today

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

and a second quote

 I believe  this quote should make all us to truly stop, think,and then to understand just how important our children are.

"You only have to know one thing......you can learn anything"


 Salman Khan
 Khan Academy          https://khanacademy.org

 I believe this could be the future of education in America and the world and............. it's Free