OCCUPY WALL STREET

persiphone · 11-29-2011, 08:43 PM

Occupy Wall Street Takes Aim at Student Debt
By Giuseppe Giannet Mon, Nov 28, 2011

With the ever-increasing chance of eviction facing "Occupy" movements across the country, Occupy Wall Street has been forced to consider its next step. Whether the movement morphs into a political group capable of reform through the ballot box is yet to be seen. However, some specific action is already taking place. One thing Occupy Wall Street has taken aim at is the growing student loan debt carried by the nation's college students. Here are some interesting facts relating to the "Occupy" campaign and student debt in general.

* According to Washington Square News, protesters in Zuccotti Park are trying to gather one million signatures from students vowing to ignore their loan payments. The campaign is consistent with the "Occupy" movement's larger belief that college education is a fundamental right of citizens.

* The campaign is being run by the Education and Empowerment Committee of Occupy Wall Street.

* The price of studying and living on campus at an average public university rose 5.4 percent for in-state students, or about $1,100, to $21,447 this fall, according to CNNMoney. Meanwhile, community college, which is usually a low cost alternative for lower income students, tuition posted an 8.7 percent gain.

* The New York Federal Reserve Bank puts the total student debt at $550 billion, according to the Economist.

* Sallie Mae, the college loan giant speculates there is $757 billion of outstanding student loans.

* Lending this year alone is projected to be in excess of $112 billion, which will send the total student loan debt owed by American students to over $1 trillion.

* Depending on the estimate, America's students now owe more in college loan debt than Americans owe in credit card debt, reports the USAToday.

* According to the Huffington Post, the average debt students owed in 2010 was $25,250, which represented a 5 percent increase from the previous year.

* Out of the nation's 50 states, New Hampshire had the highest average debt load at $31,048, while Utah had the lowest at $15,509.

* The Obama Administration has tried to deal with the student loan crisis by capping monthly student loan payments to 10 percent of discretionary income. The White House estimates this could assist 1.6 million students in lowering their payments.

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11-29-2011, 08:43 PM	#11
persiphone Timed Out How Do You Identify?: femme Relationship Status: on a hedonistic hiatus Join Date: Nov 2009 Location: Permanently Banned 12/28/2011 Posts: 462 My Photo Gallery Thanks: 1,574 Thanked 1,562 Times in 380 Posts Rep Power: 0	Occupy Wall Street Takes Aim at Student Debt By Giuseppe Giannet Mon, Nov 28, 2011 With the ever-increasing chance of eviction facing "Occupy" movements across the country, Occupy Wall Street has been forced to consider its next step. Whether the movement morphs into a political group capable of reform through the ballot box is yet to be seen. However, some specific action is already taking place. One thing Occupy Wall Street has taken aim at is the growing student loan debt carried by the nation's college students. Here are some interesting facts relating to the "Occupy" campaign and student debt in general. * According to Washington Square News, protesters in Zuccotti Park are trying to gather one million signatures from students vowing to ignore their loan payments. The campaign is consistent with the "Occupy" movement's larger belief that college education is a fundamental right of citizens. * The campaign is being run by the Education and Empowerment Committee of Occupy Wall Street. * The price of studying and living on campus at an average public university rose 5.4 percent for in-state students, or about $1,100, to $21,447 this fall, according to CNNMoney. Meanwhile, community college, which is usually a low cost alternative for lower income students, tuition posted an 8.7 percent gain. * The New York Federal Reserve Bank puts the total student debt at $550 billion, according to the Economist. * Sallie Mae, the college loan giant speculates there is $757 billion of outstanding student loans. * Lending this year alone is projected to be in excess of $112 billion, which will send the total student loan debt owed by American students to over $1 trillion. * Depending on the estimate, America's students now owe more in college loan debt than Americans owe in credit card debt, reports the USAToday. * According to the Huffington Post, the average debt students owed in 2010 was $25,250, which represented a 5 percent increase from the previous year. * Out of the nation's 50 states, New Hampshire had the highest average debt load at $31,048, while Utah had the lowest at $15,509. * The Obama Administration has tried to deal with the student loan crisis by capping monthly student loan payments to 10 percent of discretionary income. The White House estimates this could assist 1.6 million students in lowering their payments.