Sunday, March 24, 2013

Odious Student Debt

The Guardian Media Group has launched a student debt network.


"Recent figures paint a dramatic picture: According to the Federal Reserve, student debt in the US is approaching $1tn – a number disputed by the Consumer Financial Protection Bureau, which says that milestone has already been reached.
Join our source network, and you'll help us tell a more nuanced and personal story of debt. We want to hear about the choices and sacrifices and complex situations that you've been facing. What are you sacrificing in order to pay down your debt? Is it a career? A location? What financial services companies are targeting you – and with what offers?
We want to know how it affects you in the short-term, mid-term and long-term. What do you worry about most? Which lending companies are most predatory? We're curious what decisions you've made, and what decisions you will or won't even approach because you're in debt."
A meme that is traversing Facebook comes from this image;

IMO, Chomsky is scratching the surface of how distorted the system is making the society.  The results of the Guardian network studies will be an interesting read.

by Frank Krasicki

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