Student Loan Debt
Russian Mafia
Student loan borrowers leave college with an average debt of $20,000.00. But while the interest increases, they end up owing thousands more than they borrowed taking a decade or more to repay. If you fall in this category you will end up as a “wage slave” spending a major portion of your wage-toiling years digging out from under a giant pile of debt. Some borrowers never make it. They never “capitalize” from their college education and are never able to repay their bloated loans which have spiraled into a perpetual state of deferment.
Defaulting on a student loan (even in the case of terminal illness, bankruptcy or even death) is just another opportunity for the loan company to screw you harder. Sallie May, the most corrupt student loan shark of all has recently gone into the debt-collection business. They’ll pretty much come to your house and bust your knee caps. They will go after your family and dependents. And they will reap even more interest and fees of up to 20 percent of the balance from defaulted borrowers. Student loans are the worst of all education rackets.
Take a look at some of the websites dedicated to the victims of student loans:
http://studentloanjustice.org
http://www.salliemaenot.com/
http://www.studentloanslave.org/
November 30, 2006
Posted in: Student Loan Debt
3 Responses
its bs that i went to college for four years, get paid shit (less than 30k!) at my job that “required a BS”! i am in loan debt, and if i wanted to pay it off would literally have to (for the next 10 years at least) live at home, get a second job and or never leave the house again, go on vacation or even buy a new item of…well anything for at least 10 years. o wait, i can go back to school and get everything deferred….add a few 10s of thousands of dollars onto it and then be in even better shape with more debt to go with my slightly higher income.
or i can quick my job and try to find a better paying one. since everyones hiring now. i loved college. i hate life after. i hate that i look forward to nothing but the same shit day in and out and i hate how jaded ive become in a single year. i went from enthusiasm and excitement and ambition. i overachieved in school. to hating work (and i’ve tried multiple jobs) hating money and hating reality.
Thanks for the post (particularly the links). It’s unbelievable to me that the U.S. — the richest nation in the world — can’t provide free undergraduate education at the public level. No wonder we’re going downhill as a country.
And yes, “wage slavery” is the appropriate term.
College is a hoax don’t fall for it. http://www.thegreatcollegehoax.com
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