Student Debt Strike in 2019?


#1

Hi folks. A lot of people have been posting here on different places about organizing a big, organized strike of student loans. Let’s discuss on this thread. Here is what we know:

  • There is $1.5 trillion in student debt (and counting) in the US. Most of this is federal loans.

  • One million people go into default every year.

  • Almost half of all student loan holders are NOT paying their loans.

At the Debt Collective, organizers have been thinking about putting together a strike to make demands. Would you join a campaign like this? Please share your thoughts below.


Student Debt Protests
pinned globally #2

#3

Yes. I would definitely join this campaign


#4

Sounds like a plan

Maybe there could be a procedure outlined, a flowchart for people making decisions on how to strategically interact with the loan companies


#5

Yes! We would definitely join!


#6

Yes and i would like to actively promote the campaign and work to get others involved. Not sure about this platform though as I would personally like to be updated regularly. A private facebook group may be more user friendly way to start and will allow us to interact more directly and immediately engage more people. I have experience being an admin of a large group and I would love to support in that way!


#7

Hi. We created this discussion forum specifically to get off Facebook. FB is not good for organizing. If you have suggestions for how this forum can work better, please post them. Our tech team would love feedback. Thanks!


#8

Hi all, I would be interested in taking part in organizing and participating in a student loan strike. I am located in DC and connected and have access to my own alumni circle and potentially other DC student alumni groups.


#9

This platform suits me. I’m not on facebook.


#10

I’m down also…I’m over my 1200 monthly loan payment…it’s all interest…let’s strike…I’m so close to defaulting…


#12

Facebook is a terrible idea for myriad reasons.


#13

ABSOLUTELY!! Collective action is the best approach. It would start out slow, but could pick up tremendous momentum. With the support of the Sanders campaign, a debt strike could be very effective. I will help with organizing in any way I can.

The only way to fight greedy Wall Street is to cut into their profits. Seriously, corporations, financial institutions do not respond to anything other than money. They are completely beholden to their shareholders. LET’S MAKE THIS HAPPEN!! This is OUR country, OUR future, not Navient and SallieMae’s!!


#14

I’m in! The Student Debt crisis is going to get worse and worse. Better to create a plan for formal forgiveness, probably including taxing the rich, than to have another recession caused because people can’t pay and have no way out. Honestly it’s amazing that more people haven’t defaulted already, and speaks to the efforts of all of the people who have done their best in a rigged society.


#15

I think the best thing to do would be:

  1. Market the creation of this initiative
  2. Begin a nationwide online petition (This would include entities that are not on this site)
  3. Advertise a deadline date for banks across the country to take heed to our warning to strike

This will help to start in showing how serious we are and publicizing it to gain more supporters
This will be a huge breakthrough in ensuring that all SDS supporters get their voices heard and their lives back


#16

I am not sure if Student Debt can be a winner just by creating public strikes. BUT I would love to use strategic tactics, law and judiciary system to fight the battle.
I would use social media as a tool but I am NOT a fan of any social media platform and do not count as a reliable source specially Facebook


#17

I would definitely want to be involved. Thanks to the Debt Collective, my loans have been discharged but that doesn’t mean I am ready to quit fighting.


#18

Sounds like a plan, I like the FB idea though, How will I be notified of updates on this forum? Emails? not really what I would like to do, because then I gotta go sign on here after receiving the email. Anyway Whats the best plan of action? do class action lawsuits work against schools that closed? Theres so much misinformation out there, and I read my copy of my MPN and Bankruptcy IS a way of getting your loan discharged, the problem is its a long litigation and we would have to pay out of pocket for attorney fees.


#19

Hi! Glad so many people on this thread like the idea of a student debt strike. @Ed1979, I wanted to answer your question about notifications. Our technicians are working now on turning this platform into a mobile application (it works on phones now, but not that well). Once that is done, sometime this spring, you can sign up to receive notifications for threads you want to follow. Thanks!


#20

Thats still another app i have to add to my phone that has no more space. Thanks tbough! I understand not everyone uses FB but im sure more ppl do than don’t.


#21

Hi Denise, how did you get your loans discharged? Did you apply through borrowers defense?