The Daily Skunk

Due to a lack of time and creativity, I have decided to post info. from studentloanjustice.com. I agree with about 95% of what they are trying to promote. The supporters as a whole aren’t lazy deadbeats that just want to bail out and complain about their student loans. And I don’t blame the Republican Congress solely for this mess, as Allen does.

Honestly though, with the ammount I owe for student loans, and then having to take out a business loan - I wouldn’t be able to live if my wife didn’t have such a good job.

The system as it currently stands, is not benefitting most people, it is financially supressing them. The situation is only getting worse with the rising interest rates on educational loans. The basic concepts of economics will eventually prevail here, and that is education is going to (already is) getting too expensive for people to live and repay their loans. This is one of the finest examples of corporations influencing the government.

I’m lucky for my wife and her having a good job. I know dozens of people who don’t have someone to fall back on. When you are looking at a $550 per month student loan payment (or even a $350/month), a $250 per month business loan payment and then food, health insurance, rent/mortgage, gas (to get to work), car insurance, electricity, water (and these are just the necessities!!), how is someone supposed to live?? And, I’m living in a relatively low cost area.

Very few people get a job right out of college that affords them all of these things without hardship.

I know I still haven’t put my consolidation experience down here yet, I don’t know when I will, I don’t really like to think about it as it tends to incite quite a bit of anxiety and irritation within me. Someday I will. Don’t get me wrong, I don’t expect anyone to borrow money and not get something in return, but seriously, the subsidizations are a joke - if you are lucky enough to qualify for them (which only make up a minimal ammount of my loans). To put it bluntly, the whole damn process is a joke. It is so easy to get the money lent to you, and it is so damn hard to pay it back.

If you are paying your student loans back under consolidation, only paying the amount required each time, you will most likely pay 2x what you borrowed - Unless you were lucky enough to have accrued all your loans and had them consolidated way back when the interest rates were reasonable. That would have been about 4 or 5 years ago.

Please read the letter in the following posting “Letter from Allen to James Kvaal, I have censored it slightly.

Thanks,

William

James,

I have written to you repeatedly about the student loan scam in the United States that has been enabled by the Republican Congress since 1994. Thus far, I have heard nothing from the Edwards camp about this. I am describing to you the PERFECT issue for the Edwards campaign, given that you all are still sticking to the “Two America’s” theme which gave you credibility in the first place. As Policy Advisor for the campaign with excellent knowledge about the student loan industry, you should be listening to me.

James, I have members who have killed themselves, fled the Country, and thousands more who are “living off the grid” as a result of the predatory student loan industry. All being strongarmed into paying triple, quadruple, or even more than they originally borrowed. All due to the astonishing lack of consumer protections…protections that have been legislated away since 1994. This is the perfect issue for anyone concerned with the corporate hijacking of the federal government, and the use of this tool for subjugating vast segments of our population. I actually gave you $50 of my hard-earned money yesterday. Money that I certainly cannot afford.

And still I have heard nothing from the Edwards campaign. Nothing. “Thanks for reaching out…” What the f**k does that mean, James?

What the f**k man?

If you guys were serious about capturing the American Spirit in the upcoming elections, you would stick to your theme, and give huge, massive respect to this issue. I have dozens of stories from North Carolina alone that would easily prove our case in any court of public opinion. We have caused a tidal wave of press regarding this issue, including pieces on 60 Minutes, Fortune Magazine, and many, many others. And I don’t know my ass from third base about politics, James!! For example: I gave a talk this month in Chapel Hill fo the Education Writers Association- a nationally respected organization- and Sallie Mae declined to even show up to challenge my arguments.

We’re getting killed out here, dude, and you need to give that some respect. It will help your campaign, and God knows that is what we need.

If my obscene statements offend you, James, too bad. Take a look at some of the victims of this scam (www.studentloanjustice.org/victims.htm), and you will see for yourself that this is not a nickel and dime issue, but, rather, financial ruin for millions of Americans….all for the sake of obscene corporate profits.

You and Elizabeth Warren talk a good talk, but now is the time to deliver. Otherwise you all are nothing more than talking heads, and John Edwards will be nothing more than an obscure footnote, forgotten by the next decade.

Sincerely,

Alan Collinge

Alan M. Collinge
StudentLoanJustice.Org

“Please support the StudentLoanJustice.Org PAC”

Got loans through Sallie Mae?

www.indystar.com/apps/pbcs.dll/article?AID=/20070318/LIVING02/703180341

Thought you’d be interested to see how some of that interest money good ol’ Sallie Mae is collecting from you is being spent.

I’m just glad that I got my loans consolidated through someone else. If I can get the time I will tell you about my old roommates nightmare with Sallie Mae and how they robbed him for over a year and a half as he tried to change some things with his loan - fortunately for him he finally got ahold of probably the one person who works for Sallie Mae that actually cares about people - and she got it changed for him. I won’t give that persons name if he even knows it - for fear that she would be knocked off for taking care of someone on the outside.

William

This is a letter that I recieved from student loan justice. If you aren’t crrently aware of the way the legislation on student loan consolidation, etc . currently stands - you would think it was written by Sallie Mae. I especially agree with the second suggestion.

If you are ok with the current process - chances are you either don’t know what’s going on, don’t care, or you have ties to Sallie Mae.

I did send and email to the address listed below, and within it I copied and pasted the suggestions.

Thanks,

William

Hey Everyone,

The House is soliciting input for the reauthorization of the Higher Education Act from stakeholders. This is the best vehicle for us. I guarantee that they will read this. We are the most critically affected stakeholders. Send your email to HigherEdRecs@mail.house.gov

My guess is that they won’t get more than a couple of thousand responses. We can double that. Obviously, say whatever you want, but don’t forget to put our agenda in the text somewhere:

1. Pass legislation which allows borrowers who have been in default for 5 years or more to repay only what they originally borrowed, plus a reasonable amount of interest OR repay the amount that the federal government paid for the guarantee on the loan(s).

2. Pass legislation that gives borrowers the right to refinance their debt after consolidation.

3. Suspension of disability of Social Security and Disability garnishment activities.

4. Pass legislation that bans “school as lender” programs, or other programs where the universities steer students to certain lenders due to financial incentives.

5. Support other legislation that returns standard consumer protections to student loans.

6. Increase federal grants for education, and expand tax benefits for repayment.

IF YOU DO NOTHING THIS WEEK TO FURTHER THE CAUSE FOR STUDENT LOAN JUSTICE, AT LEAST DO THIS!!

You can see the letter they sent out at the link below.

http://www.aacrao.org/reporting/HEAStakeholderLetter3-8-07_HOUSE.pdf

More soon,

Alan

Alan M. Collinge
StudentLoanJustice.Org

“Those who desire to give up Freedom in order to gain Security, will not have, nor do they deserve, either one.”
Thomas Jefferson

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