Article: Debt. We all have it. And we all dream of a day when interest rates and fees are far from us. But what if your debt was so high and so overwhelming that there was no end in sight? Well, unfortunately, that is exactly where student loan debt is heading.
In June 2012, student loan debt reached about $870 billion, exceeding credit cards and auto loans and balances are expected to continue climbing, according to the Federal Reserve Bank of New York. This leaves each student with an average debt of $27,000 by the time he or she graduates.
Read More: College Student Loan Debt Crisis and Its Effect on the Economy
Marcos is to be admired for writing on the subject, but as so many do he misses some very large points. For one thing, international bankers love to have people in debt. The "dead beats" these days are the people that actually pay their loans down. The credit crisis has demonstrated the unusual way debt collectors and the banks they work for think about the problem of debt.
International bankers not only don't care about America, there is evidence they want to destroy America. You think this is a non-proven "conspiracy theory?" Consider that citizens of the US are told we must follow the dictates and policies of the following organizations:
- The UN
- Council on Foreign Relations
The entire student debt crisis is a "non-virtuous circle." 1) International bankers control the lending. 2) administrators and presidents of colleges get rich ripping students off. 3) Lack of ethics in education translates into lower quality of education. 4) Graduates are less likely to get jobs, start businesses or help the economy. 5) Administrators tell their states and students they need more money to do a better job (lie). 6) Bankers comply with larger allocations for lending. 7) The Federal government participates by guaranteeing student loans and stripping students of bankruptcy rights. 8) Students get hornswoggled into borrowing more money and going into greater debt.
And by the way, stripping people of rights is another thing bankers love to do. If believing this is a problem just look at austerity measures being attempted in Europe. The only country that has started to recover is Iceland, which refused to pay the bankers off on their odious, illegal debts.
The bankruptcy laws in America are supposed to be uniform as noted in Article 1, Section 8. Contact state attorney generals to assert rights against the student loan debt. This course is perhaps the only one that makes sense.