List
Facebook Twitter Reddit Tumblr Email

This week, as Zero Hedge reports, the student loan bubble is bursting. According to the Fed:

Outstanding student loan debt now stands at $956 billion, an increase of $42 billion since last quarter.  However, of the $42 billion, $23 billion is new debt while the remaining $19 billion is attributed to previously defaulted student loans that have been updated on credit reports this quarter. As a result, the percent of student loan balances 90+ days delinquent increased to 11 percent this quarter.

Let’s face it, one of the major impediments to radical political change is that those committed to it lack the resources or access to mobilize them. Here we see a rare opportunity, where some of those who are struggling have considerable leverage. You don’t need to band together by the thousands and take to the streets (though that would be helpful). You merely need to not pull out your checkbook for the next year and let your student loans go into default. Refuse to repay your loans, because in an opulent society like ours, free education should be standard. Force the banking institutions into a crisis, and demand a jubilee through loan forgiveness programs.

Leave a Reply

Your email address will not be published. Required fields are marked *

  Posts

1 2 3 7
April 23rd, 2019

Standing on the Shoulders of Unpaid Labor

It is fair to say that science today would not exist without unpaid labor. In the academy today, we are […]

September 6th, 2017

Teaching in the Time of Adjunctification

I am now in my second year as a contingent, adjunct instructor. For those not familiar with this terminology, it […]

September 17th, 2015

Police: The Strong Blue Thread

Facebook user, Anthony Welichko posted the picture above with the following message about “The Safe Harbor Initiative.” “To all law […]

September 16th, 2015

What will we take away from the Ahmed Mohamed controversy?

On Monday, August 14, a 14-year-old ninth grade student, Ahmed Mohamed, was arrested for bringing a homemade clock to Irving […]

December 21st, 2014

Challenging Police Union Leadership in the War on the Poor and People of Color

Police Leadership in Manufacturing ‘War Zones’ Police increasingly describe the communities they occupy as war zones, their inhabitants as enemy combatants, […]

December 4th, 2014

The Reason Mike Brown Can’t Get Justice Has Nothing To Do With Cameras

  Cops killed #EricGarner #OscarGrant #TaneshaAnderson #TamirRice #JohnCrawford #ErnestoDuenez #KellyThomas on camera. pic.twitter.com/4gCc65gcAj — Ben Brucato (@BrucatoBen) December 4, 2014 […]

December 3rd, 2014

A Short Script on On-Officer Wearable Cameras and Civilian Complaints

The scene is an interrogation room. A small room with brick walls, painted in light green-grey. A two-way mirror is […]

December 3rd, 2014

Cameras on Cops and Junk Science in Rialto

Those of us who don’t confront the potential wide diffusion of on-officer body-worn cameras with excitement and hopefulness have already […]

December 1st, 2014

Police Violence Is Not A Problem Because Of Its Invisibility

  For months, in response to the killing of Michael Brown, Ferguson and Saint Louis have been sites of ongoing […]

November 12th, 2014

Civilians Less Violent, Cops More Violent, All More Visible

Police are safer than ever, civilians are less violent than ever, and violent force and imprisonment is more often to […]