published Monday, December 5th, 2011

'Occupy' protesters and student debt

Besides the violence in which some participants in the Occupy Wall Street protests have engaged, a number of them want to create national economic chaos as well. One of the groups in the movement is urging students who have taken out education loans not to repay them.

Once organizers get 1 million borrowers to "pledge" not to repay their student loans, the non-payment would begin. Essentially, they hope to overwhelm the collection system by force of numbers.

But who would suffer if those loans, many of which come from the federal government, were not repaid?

Taxpayers, of course! After all, taxpayers provide the money for loans that students get through the government. While unemployed people who got student loans may understandably struggle to make payments, a gainfully employed person who refuses to repay his loans is in effect stealing from other Americans.

Urging people not to honor the financial obligations that they freely took upon themselves is grossly irresponsible.

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nucanuck said...

It's OK to bail out the banks (foreign and domestic), GE, General Motors, AIG and many more, but make no concessions at the lower end of the spectrum? Do we have socialism for the rich and social misery for the poor?

OWS has been peaceful for the most part and they represent a wide swath of America who should not be dismissed lightly. OWS happened as a result of onerous and unfair conditions that we need to try to understand and respond to.

We are losing our country as we shout past one another.

December 5, 2011 at 1:33 a.m.
conservative said...

Ever notice how deadbeats are nearly always lieberals?

December 5, 2011 at 7:16 p.m.
BobSmiley said...

That is like urging patients not to pay for their dental implants, then the rest of the patients will suffer because they will have to pay higher fees. It is grossly irresponsible.

Bob - http://www.smile-lincs.co.uk/

March 26, 2012 at 7:40 a.m.
AliceSmith said...

Iā€™d like colleges to give students an idea of the actual costs of the loans they are taking on ā€” how many years it will take to repay, and the total cost over the course of the loan ) (and if they want to be truly helpful, the average salary of recent graduates in various disciplines). That said, these students took on these loans, and just refusing to pay them is wrong ā€” at some point, everyone has to understand that dangers of going into debt, whether for a car, a home, or an education. http://britainloans.co.uk/

August 30, 2012 at 6:44 p.m.
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