Category Archives: Student loans

The Student DebtCropper System: Even the Destitute Hounded by Debt Collectors

As most people who have passing familiarity with student debt in the US know, it’s a millstone that is brutally difficult to remove. But it turns out that even the limited ways out are often not available in practice thanks to the hyper-aggressive conduct of a key government contractor.

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The Rise of an American Debtcropper System for the Young

Readers have often been using the term “neofeudalism” to describe the outlines of the new economic order, in which the uber wealthy and a thin cadre of their advisors, managers, and other elite professionals do well, with a network of less lofty managers helping oversee and orchestrate the provision of services to the broad base of the public, and they struggle to eke out a meager existence.

Debt appears to be the “one ring that rules them all” of this emerging order.

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David Dayen: Student Loan Servicers, Like Mortgage Servicers, Failing to Inform Borrowers of Cheaper Payment Modifications

By David Dayen, a lapsed blogger, now a freelance writer based in Los Angeles, CA. Follow him on Twitter @ddayen We’re well beyond the Presidential “Message: I care about the middle class” tour, but among his priorities at one whistle-stop was a plan for reining in the cost of higher education. The idea for a […]

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Cathy O’Neil: College Ranking Models

Last week Obama began to make threats regarding a new college ranking system and its connection to federal funding. Here’s an excerpt of what he was talking about, from this WSJ article:

The president called for rating colleges before the 2015 school year on measures such as affordability and graduation rates—”metrics like how much debt does the average student leave with, how easy is it to pay off, how many students graduate on time, how well do those graduates do in the workforce,” Mr. Obama told a crowd at the University at Buffalo, the first stop on a two-day bus tour.

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Congressional Student Debt Deal Perpetuates Predatory Practices, Higher Education Cost Inflation

Yves here. This Real News Network interview with Alan Collinge, author of Student Loan Scam: The Most Oppressive Debt in U.S. History and How We Can Fight Back, gives a short and clear overview of how student borrowers lack the protections that exist in other types of consumer lending, and how the Congressional deal to tinker with interest rates completely sidestepped the real problems in this market.

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NYU Administrators Create Student Debt Slaves to Subsidize Summer Homes, Ginormous Pensions

When union members demand decent pay levels and work conditions, they are charged with featherbedding and overmanning or the new neoliberal catchall, “demanding uncompetitive wages”. But when the upper crust loots institutions, the mainstream media is typically missing in action.

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