debt

30, 50 next 200? The Student Debt Noise Brigade Grows

The Student Debt Noise Brigade is getting a great response and growing. Below is a great video of the last march. Join in on the next.

If you still need a reason to come out:

Read about the lenght the lenders go to:

A few months after he buried his son, Francisco Reynoso began getting notices in the mail. Then the debt collectors came calling.

"They would say, 'We don't care what happened with your son, you have to pay us,'" recalled Reynoso, a gardener from Palmdale, Calif.

Reynoso's son, Freddy, had been the pride of his family and the first to go to college. In 2005, after Freddy was accepted to Boston's Berklee College of Music, his father co-signed on his hefty private student loans, making him fully liable should Freddy be unwilling or unable to repay them. It was no small decision for a man who made just over $21,000 in 2011, according to his tax returns.

"As a father, you'll do anything for your child," Reynoso, an American citizen originally from Mexico, said through a translator.

Now, he's suffering a Kafkaesque ordeal in which he's hounded to repay loans that funded an education his son will never get to use loans that he has little hope of ever paying off. While Reynoso's wife, Sylvia, is studying to be a beautician, his gardening is currently the sole source of income for the family, which includes his 18-year-old daughter Evelyn.

And the loans are maddeningly opaque. Despite the help of a lawyer, Reynoso has not been able to determine exactly how much he owes, or even what company holds his loans. Just as happened with home mortgages in the boom years before the 2008 financial crash, his son's student loans have been sold and resold, and at least one was likely bundled into a complex Wall Street security. But the trail of those transactions ends at a wall of corporate silence from companies that include two household names: banking giant UBS and Xerox, which owns the loan servicer handling the bulk of his loans. Left without answers is a bereaved father.  Read more on the Huffiongton post this came from

 

Student Debt Noise Brigade

Video of a pots and pans ("casseroles") march on 6/13/2012 in Seattle by #MicCheckWallStreet (http://miccheckwallst.org) protesting student debt and rising interest rates. Police force them out of the road several times, but they persevere and complete their march against the rising costs of higher education.

Music: "Cherubs (No Vocals)" by Josh Woodward