Mark Purcell posts to his Path to the Possible blog. Against individual accommodations of student debt, here it’s a collective problem that demands collective action. The debt strike resonates with the ‘breaking consent’ project I’ve previously promoted on this blog.
The debtors’ revolt has begun!
On Monday, former students of Corinthian Colleges Inc. declared a debt strike by refusing to pay their federal loans.
These former students — who call themselves the Corinthian 15 — are the first to take such a bold stand against the current student debt crisis.
At the same time, the Rolling Jubilee has just erased over $13 million ($13,384,642.14) of student debt from Everest College, a subsidiary of Corinthian Colleges Inc. Corinthian has been the target of numerous fraud investigations by state and federal authorities.
Through this ongoing campaign, the Rolling Jubilee helped successfully pressure a debt buyer into retiring over the $13 million portfolio of Corinthian debt, and exit the private student loan business entirely! In short, we’re winning. Meanwhile, the Department of Education has been propping up Corinthian, essentially acting like a debt collector for a predatory lender. Now, we…
View original post 327 more words