The Student Debt War Project (SDWP) is announcing plans for a 2014 nationwide grass roots project that will seek to permanently end student debtor oppression and indenturement in the United States. The project comes on the heels of an internal study that revealed about 50% of the nation’s student debtors will eventually end up in default and become subject to lifetime debt servitude to the federal government. At issue are a host of violations, including Civil and Constitutional Rights that are currently being denied student debtors in favor of unscrupulous educators, bankers and guarantors.
Student debtors are being systematically and permanently removed from pursuing the American Dream to become life time debt slaves whose assets, paychecks, and lives will become subject to 100% government control and oppression, say organizers. This violates US policy and intents of the student loan guarantee system and purpose, they claim.
The nonprofit group alleges major colleges and universities across the nation have joined with bankers, guarantors other groups and individuals in a major conspiracy that has affected RICO Act and False Claims Act violations on a monumental scale. As a result, taxpayers have allegedly been defrauded of billions of dollars while millions of student debtors have been unjustly thrust into indenturement.
“There is something very wrong when a student who owes $21k has over $65K confiscated by the government and yet still owes the original $21k and another $10k on top,” said Janet Mills, a volunteer coordinator for SDWP. ‘The debt never goes away, it just keeps growing,” she said.
Students and litigators have acknowledged that the federal government is routinely denying student debtors legal and Constitutional Rights using laws that seek to purposely affect group discrimination. Student debtors are abused because the laws have been set-up in such a way as to deny them access to legal services or affordable representation as well as equal treatment under the law to that of other consumer debtors.
The illicit system is said to thrive unchecked because student loan guarantors have federal police powers exceeding, in some cases, the IRS, and can affect collections and confiscation of assets without reasonable “due process”.
The Department of Education is aware of the criminal police power abuses of its guarantors but refuses to abate them, claim organizers.
“We are getting pleas for help from grandparents, parents, and students who have had their lives destroyed by these criminal institutions,” said SDWP Co-Founder Morgan Fisher. “Our student debt system is unsustainable and is affecting Human Rights violations right here in America—our very own federal government has become a villain and turned what should be an uplifting program into a diabolical slavery trap–it cannot be tolerated any longer,” he said.
Organizers report preparing for a series of major grass roots events and initiatives expected to culminate with the filing of high profile class action lawsuits.
SDWP membership rolls have exploded, said Director of Volunteer Management Candice Wilson. “We expect to top 5-million members by mid summer simply because we’re getting so much support from voters and others who are not students but are just as concerned as we are about these issues,” said Wilson.
The organization has been working behind the scenes in preparation for its leadership initiative roll out. Plans include a major lobbying assault on Congress and the White House with the goal of getting their proposed Student Protection Act bill installed as law. The Act would make all student loans dischargeable in a standard bankruptcy and ensure that no student could assume more debt that can be paid back under what it calls the One-For-One Rule. Such a plan, they claim, will all but end student loan defaults and losses to taxpayers as well as abuses to student debtors by the government and its surogates.
The One-For-One Rule limits total educational borrowing for a student based on their expected and measured income after graduation. The student must be able to repay one year’s worth of college debt with one year’s worth of projected income (which includes the student living independently on that income and having enough surplus income to repay the college debt). Organizers claim that by restricting the debt limits, educators will be forced to find new ways to greatly reduce tuition rates while simultaneously working to place students into higher paying jobs post graduation.
“Students should not be leaving college and paying for their education for decades or a lifetime,” said Wilson. “People do not seek higher education toward better paying jobs to become permanent debt slaves to the federal government. They do it because they want to spend their lives pursuing the American Dream,” she said. “We’re destroying lives instead of helping them.”
The largest beneficiary of the project’s bill turned law is expected to be taxpayers. Currently, untold billions are being lost each year under the student loan guarantee system and its abuses. Most student loan collection dollars go into the personal pockets of bill collectors and agencies, not taxpayers. Students are being forced into paying as much as 6-times the amount of the original debt in some cases, says the project.
The Student Protection Act (SPA) would make student debt subject to a maximum interest rate of 2%, as set by the federal government each year, which will dramatically lower costs for students and better ensure their loan balances are fully repaid. The law would eliminate virtually all taxpayer losses in the future while also ensuring student debtors are never again subject to a lifetime of student debt slavery, say organizers. Lower over-all debt, they say, will virtually eliminate the default rates except for the most needy of students who run into truly heartbreaking life circumstances such as disease or the need to drop out and care for a newly disabled parent, etc..
“We’ve done the research. We know bankers and educators will hate our solution at first but over-all, the project is sound and will offer a long term benefit to our nation and students,” said Fisher. “We must give students a future that includes a real chance at the American Dream, not a better than average chance for a lifetime of debt oppression and poverty,” he said. ‘”Our educators and bankers have proven they cannot be trusted with self-policing or self-restraint so we are stepping in to correct the system and return it to a sustainable model that respects taxpayers and student debtors and gives students equal Rights to those of all Americans,” he said.
The project continues to be funded by private sources and operates on a not-for-profit basis, offering free membership to the public. For more information, contact the SDWP by visiting their website at www.studentdebtwar.org