The Freedom to Prosper Blog

The “Value” of Student Debt – and the People Who Hold It

The “Value” of Student Debt – and the People Who Hold It

May 17, 2021
By: David Bergeron

A recent Wall Street Journal article questions the “value” of the student loans held on the books of the U.S. Department of Education. The article reports that a retired banker had reviewed those books and determined that recent changes in repayment patterns, particularly among those who default but are attempting to repay, means that the federal government is losing money on these loans.

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Student Loans Just Keep on Coming

Student Loans Just Keep on Coming

April 26, 2021
By: David Bergeron

Many people have experienced the frustration of print or online subscriptions that “auto-renew,” incurring another year’s worth of cost whether they want it or not. Many services and publications hide these auto-renew provisions in the fine print, leading to unwanted expense or difficulty. What many people don’t realize is that something like that happens in the U.S. student loan system, often adding many thousands of dollars to a borrower’s debt.

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Consolidation of student loans could help you get relief – but the Education Department can’t tell you that

Consolidation of student loans could help you get relief – but the Education Department can’t tell you that

April 14, 2021

By: David Bergeron

During the pandemic, emergency relief has been provided to many federal student loan borrowers. This relief has included suspension of loan payments, cession of collection on defaulted student loans, and resetting the interest rate on some federal student loans to zero. But, until recently, this relief was limited to loans held by the U.S. Department of Education.

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Social Security Garnishment is A Broken Social Trust

Social Security Garnishment is A Broken Social Trust

April 6, 2021

By: Richard Eskow

Many people are surprised to learn that Social Security checks can be garnished to pay for student loan debt. In a recent development on that front, reports show that many people on Social Security disability insurance have not received the student debt relief they’re entitled to. According to a recent MarketWatch article:

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Freedom Dreamers: The Many Faces of Student Debt

Freedom Dreamers: The Many Faces of Student Debt

October 26, 2020

By: Richard Eskow, Mary Green Swig, Steven Swig, and David Bergeron

In a recent Instagram discussion about student debt for the Congressional Black Caucus, Rep. Ilhan Omar quoted Black Lives Matter founder Alicia Garza as saying, “We’re not freedom fighters, we’re freedom dreamers.” Rep. Omar, who has student debt of her own, went on to say: “We can all dream, and envision, and make it happen: a world without student debt.”

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A cruel experiment: How 46 million people were trapped by student debt

A cruel experiment: How 46 million people were trapped by student debt

September 15, 2020

By: Mary Green Swig, Steven Swig, Richard Eskow, and David Bergeron

The democratic principle of tuition-free education in our country pre-dates the founding of the United States. The first public primary education was offered in the Massachusetts Bay Colony in 1635, and its legislature created Harvard College the following year to make education available to all qualified students.

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I Am a Student Debt Voter!  #CancelStudentDebt

I Am a Student Debt Voter! #CancelStudentDebt

This upcoming election is paramount for our economic future

Add your name and join our national movement of Student Debt Voters!

The coronavirus (COVID-19) pandemic has wounded our economy, forced a number of industries to grind to a halt, and put nearly 80 million American jobs at risk. Meanwhile, student debt has soared to an all-time high of $1.7 trillion, even as millions of borrowers face an uncertain economic future.

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