Monday, November 15, 2010

More from Alan Collinge...

"This is the type of greed, and excess that we enable with the predatory loans forced upon us.

We have crossed a threshold, folks. Where yesterday you were ashamed, intimidated, and overwhelmed, tomorrow you should be angry, assertive, and demanding. These are your loans, and only by you understanding exactly what is going on will you transition from passive to active on this issue. Trust me, you will certainly wonder, in hindsight, why you laid low for so long. Doing so only enriches and emboldens the predators who have seized control of this lending system."

Forget being a doctor or a lawyer, this article makes the life of a university president rival Beverly Hills. Kind of explains the recurring hikes in tuition...

A message from Alan Collinge

Already, moves are underway to continue the theft from the student loan system using people holding themselves out as student advocates, when in fact they are nothing of the sort. The College Board (The entity that administers the SAT) is going to bat against the students on this particular attempt. The target is the "in-school" subsidy.

Ask why the College Board would even care about this issue. I have not a clue...I've never looked really hard at the organization, I only know that they were actually selling student loans for a time, and would still be were it not for public outcry, and some legal issues. I do know that these sorts of actions nearly always coupled with funding requests/ political appointments/ etc.

This is a good research project for someone...

Wednesday, November 10, 2010

News and Etc

I recently found out that Alan Collinge will be closing down the Student Loan Justice Facebook group. The idea behind it would have been amazing, but sadly, Facebook is not the place to organize such a cause.
He will continue the Student Loan Justice website.

Collinge did post this link through the Facebook page, therefore, I too will pass this on. It's worth a shot.

There is also a worthwhile discussion here.


I would like to issue an apology to Cryn Johannsen for a previous post, it is a misunderstanding in the heat of a moment and I did not intend to direct anything towards her. I thank her for her work and continue to thank her for her future work.

And finally, while at a local bookstore, I was able to glance at Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents. It seems like a very vital book for any new college hopeful and a guide to avoid the student loan nightmare. I just wish this book had come out years ago. To paraphrase a quote, it went something along the lines of, "Those who understand compound debt will profit from it, while those who do not will be destined to pay it." How true. Sad. But true.