Monday, October 17, 2011

occupatriots pdx | web of debt : mon oct 17th 2001 sw 5th ave at salmon pdx

Discharge The Debt Rally Oct. 17th @ 12 noon
Occupy Portland will be demonstrating for student loan reform!

We are joining with the Discharge the Debt Rally being organized by Student Loan Justice Portland. The protest is planned for Monday, Oct. 17th. At 12 noon we will demonstrate outside US Bankruptcy Court located on the corner of SW 5th Ave and SW Salmon St.

Why?  Bankers have created a student loan bubble comparable to the mortgage meltdown. Student loan debt is approaching $1 trillion. Unlike other types of debt, student loans are not dischargeable in bankruptcy court. 

This is unfair discrimination against the types of debt held by the poor and working classes.
From the Student Loan Justice fact sheet: “Student loans are the only loans in history to be exempted from bankruptcy protections, statutes of limitations, truth in lending laws, fair debt collection practices, refinancing rights, and state usury laws.”

“The special collection powers exceed those for every other type of unsecured loan in the nation, and include wage, social security, and disability income garnishment without a court order, suspension of state professional licenses, and termination from public employment.”

After graduation many students are unable to find employment in their field of study. They have no prospect of ever paying off their student loan debt and instead face a lifetime of debt servitude.

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