Student Loan Debt Strike: Is this how the bottom-up decision to transform the financial system begins?


Oh yeah? Think again!

We might want to remember this final week of February 2015, when the movement, to erase 1.16 trillion dollars in student debt, started to gather steam and roll downhill. How? By the concerted, collective decision of the first 15 who “owe” this debt which, unlike any other kind of debt, cannot be forgiven through bankruptcy. (There may be exceptions. See this, for a list of possible options when the debt becomes too onerous to repay.)


Former Students Launch Debt Strike Against College, Fueling Next Stage in the Movement

Collective bargaining can happen along economic lines when debtors join together.

From theatlantic:

The Guardian Angels of Student Debt

The idea behind Debt Collective, which officially launches today, is simple: to create an organization that brings together people with massive student debt so that they can force change. “If you owe the bank thousands of dollars, then the bank owns you. But if you owe the bank millions, then you own the bank,” its website says. “Collectively, we own the bank.”

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