Amanda Lee Brown, Director
it's your right and your duty to speak out, contribute, make a difference. If we don't stand up for ourselves and our debt problem, not much will change. No one is going to do this for us, not whole-heartedly. We are 38 million strong and growing every day. This is our call to action: heed the warning or "DIE WITH THE DEBT."
Freedom Triumphant, by Thomas Crawford, atop the U.S. Capitol Dome - Washington, D.C., U.S.
Cherry blossoms frame the Capitol Dome.
The Capitol Building at night, with its reflection in the Capitol Reflecting Pool.
The 1963 March on Washington for Jobs and Freedom, known simply as The Great March on Washington.
In November, 1969, approximately 600,000 protesters showed up on the mall for The Moratorium to end the against the war in Vietnam.
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MISSION STATEMENT:
Reform Student Loans NOW (RSLN) advocates making higher education more accessible and affordable by reforming the current student loan system. These reforms must be both proactive and retroactive, protecting both new borrowers and those who are already in debt. ABOUT: The current student loan system is unacceptable. More than 20 million Americans attend college each year. 12 million, or 60%, borrow annually. With 38 million borrowers owing over 1.1 trillion dollars in debt, the effects on the economy and society are incalculable. It should be obvious, from the statistics alone, that there's an underlying problem causing this massive debt. The truth is that the different entities in the system, and the laws governing them, must share in the blame for the loans not getting paid. To begin with, regular truth-in-lending disclosures about the terms of the loan are sorely lacking. The system induces students to borrow, despite the reality of being able to pay off the loan. Uninformed and deluded about graduation and job placement statistics, or average entry-level pay, the student has no true grasp on what it takes to pay off the loan. In many cases of recruitment, he is even lied to outright about the outcomes of previous students. Even worse, he is almost always equally ignorant of the terms, conditions and consequences of the complex student loan system. In other words, he or she really doesn't know what in the hell they are signing. They aren't given the time, information, or attention it takes to enter into these vicious, one-sided loan contracts, enforceable only through arbitration... NOT by an American court with a proper judge and jury. The laws regulating the system are either unenforced or unfair, because they don't provide the standard consumer protections that are required for all other types of loans. Without proper regulation and accountability, the loans spiral beyond control, becoming impossible to pay. There are no caps on penalties, capitalization, fees for late payments, forbearance, deferment, default, consolidation and rehabilitation of these loans: this is how the loans snowball out of control so quickly. Unfair debt collection practices run rampant in the student loan system and, unlike every other loan (or crime, except murder), there is no statute of limitations. Even loans that are forgiven, in almost every instance, including death or disability, are subject to income tax on the amount forgiven AND this tax is due in full the year the loan is discharged. This is called "Cancellation of Debt Income". RSLN intends to raise public awareness of these disparities, gather support for reform, and communicate this support to our lawmakers. Our immediate goal is to target HELP, which is tasked with reforming and re-authorizing the 1965 Higher Education Act, which regulates student loans, by Sept., 2014. If they do not get it re-authorized, they will get another year to do so. Historically, these extensions have been made for several years in a row. This would be unacceptable. We need wide reforms now, to protect both new and old borrowers. These reforms are vital to our society and our economy. We need to restore all the standard consumer protections applied to other loans, including bankruptcy. We need a better system of accountability, so those who abuse the system and break the law will be punished. We need more available and attainable options for loan forgiveness, providing incentives to repay by serving society. When loans are discharged, either through bankruptcy, forgiveness, disability or death, the IRS should not be able to tax the amount discharged as income. We need to make the payment calculations for income-based repayment plans more fair. We must quit taking social security, disability, and disaster-relief payments from people. The student loan system should be designed to further education, not to provide a lucrative income to those in the system. The federal government should never profit monetarily from student loans: the overall benefit to society should be the government's focus. Society and the economy would greatly benefit from giving borrowers deep in debt another chance, either through bankruptcy or forgiveness; and by preventing future borrowers from being inescapably bound by a debt that cannot be repaid. It is time to quit putting our people into indentured servitude, virtually enslaved for life by a loan that can't be repaid. The whole student loan industry is getting rich off the backs of students, who often end up in poverty, instead of in the American Dream. RSLN is advocates awareness and action on these issues. Spreading the word, increasing support, and influencing Congress are our immediate goals, through use of the internet, word of mouth, the media, petitions, and calls and letters to our lawmakers. Help support this cause. Sign a petition, vote and comment on legislation, blog, spread the word. Don't "die with your debt." All you need is a voice. {Please continue on down this page to learn more about this site and what we want to do.}
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ABOUT THIS SITE:
If you are a new student considering student loans or a recently graduated student being faced almost immediately with loan payments, please click here, or navigate to the "What Can I Do?" page.
It is the aim of this site to keep you abreast of current legislation so you can voice your opinion to your Congressmen. "What's Happening Now?" updates current legislation and other student loan news almost daily.
If any committees are asking for input on the subject of student loans, you may find this information either directly under "What Can I Do?" or further down under the heading. Currently several are requesting opinions, advice, and/or experience.
Also included are relevant petitions - if you know of any others that should be included, please speak up.
The survey is not operational yet. If you have thought-provoking suggestions for questions, please leave them on the "Blog" page.
The links page needs to be exhaustive - this subject matter is broad and sometimes good links are hard to find. Please submit any sites you feel are pertinent on any page in the comment box.
Feel free to write about anything you want on the blog page; especially if you have good questions, suggestions or constructive criticism. Also, there's a page under "Unfair loans?" for you to "Tell Your Story Here:", and a reference to send your story to the CFPB and others who want to hear your story.
The site will be fully operational ASAP: the Senate HELP Committee has until Sept. 30, 2014 to re-vamp and re-authorize the Higher Education Act (HEA) of 1965, so time is of the essence. We must let our legislators know how we stand, if we are to make a difference.
There is strength in numbers, so please pass the site along to anyone else you know that has an interest. Also, please be sure to leave your name and email address in one of the comment boxes - don't worry, your box will NOT be flooded with emails and spam from this site. Also, your privacy is important to us - your information will never be sold, traded, or given to anyone for any reason. The only possible exception to this would be made clear to begin with and you would have to choose, or "opt in", for your information to be shared. We don't even require your name on the sign-up/comment forms - you can use any name you want and an email.
The only reason you have to provide private information to vote, comment, or petition is to prove you are a real person and what voting district you come from - these rules are due to Popvox, the govt., and/or individual petition sites. It's your choice whether or not to participate; but please do, because each signature, vote, comment, and story actually do make a difference.
WITH YOUR HELP, WE CAN GET WHAT WE WANT.
WE WANT:
To inform the public about the seriousness of the current student loan problem. To awaken people from the nightmare being brought on our nation's economy, culture, and society by this curse - an inescapable punishment that virtually enslaves its victims and belongs in medieval times.
To give debtors a chance to serve their sentence, pay their debt to society, and be shed of their burden without having to die to get away from it.
To engage readers to take action to help change the situation, especially the attitudes towards those in debt, who must realize that the debt is not entirely the borrower's fault.
To help ease the burden of debt on student borrowers, of both past and present loans.
To make lenders and institutions responsible for crystal-clear disclosure about the loans, including all terms and consequences; and the feasibility of (non)payback due to jobs, salaries, failure rates, etc.
To help influence Congress, lenders, institutions and others, who can make college more affordable and accessible for qualified individuals who will utilize a good education and effectively contribute to society.
If you are a new student considering student loans or a recently graduated student being faced almost immediately with loan payments, please click here, or navigate to the "What Can I Do?" page.
It is the aim of this site to keep you abreast of current legislation so you can voice your opinion to your Congressmen. "What's Happening Now?" updates current legislation and other student loan news almost daily.
If any committees are asking for input on the subject of student loans, you may find this information either directly under "What Can I Do?" or further down under the heading. Currently several are requesting opinions, advice, and/or experience.
Also included are relevant petitions - if you know of any others that should be included, please speak up.
The survey is not operational yet. If you have thought-provoking suggestions for questions, please leave them on the "Blog" page.
The links page needs to be exhaustive - this subject matter is broad and sometimes good links are hard to find. Please submit any sites you feel are pertinent on any page in the comment box.
Feel free to write about anything you want on the blog page; especially if you have good questions, suggestions or constructive criticism. Also, there's a page under "Unfair loans?" for you to "Tell Your Story Here:", and a reference to send your story to the CFPB and others who want to hear your story.
The site will be fully operational ASAP: the Senate HELP Committee has until Sept. 30, 2014 to re-vamp and re-authorize the Higher Education Act (HEA) of 1965, so time is of the essence. We must let our legislators know how we stand, if we are to make a difference.
There is strength in numbers, so please pass the site along to anyone else you know that has an interest. Also, please be sure to leave your name and email address in one of the comment boxes - don't worry, your box will NOT be flooded with emails and spam from this site. Also, your privacy is important to us - your information will never be sold, traded, or given to anyone for any reason. The only possible exception to this would be made clear to begin with and you would have to choose, or "opt in", for your information to be shared. We don't even require your name on the sign-up/comment forms - you can use any name you want and an email.
The only reason you have to provide private information to vote, comment, or petition is to prove you are a real person and what voting district you come from - these rules are due to Popvox, the govt., and/or individual petition sites. It's your choice whether or not to participate; but please do, because each signature, vote, comment, and story actually do make a difference.
WITH YOUR HELP, WE CAN GET WHAT WE WANT.
WE WANT:
To inform the public about the seriousness of the current student loan problem. To awaken people from the nightmare being brought on our nation's economy, culture, and society by this curse - an inescapable punishment that virtually enslaves its victims and belongs in medieval times.
To give debtors a chance to serve their sentence, pay their debt to society, and be shed of their burden without having to die to get away from it.
To engage readers to take action to help change the situation, especially the attitudes towards those in debt, who must realize that the debt is not entirely the borrower's fault.
To help ease the burden of debt on student borrowers, of both past and present loans.
To make lenders and institutions responsible for crystal-clear disclosure about the loans, including all terms and consequences; and the feasibility of (non)payback due to jobs, salaries, failure rates, etc.
To help influence Congress, lenders, institutions and others, who can make college more affordable and accessible for qualified individuals who will utilize a good education and effectively contribute to society.