Education News Politics

Occupy Student Loans

April 24, 2012

The Occupy Wall Street movement will be calling attention to the nation’s mounting student-loan debt tomorrow, designating April 25 as One Trillion Dollar Day to denote the country’s estimated debt total.

Recent reports have pointed toward the growing student loan debt as the next financial ‘crisis’ to watch. The student loan debt has now exceeded the nation’s credit card debt, as well as auto-loan debt.

According to an Occupy Wall Street press release, the movement is planning “demonstrations and creative protests” across the country. The protests are being held in an effort to draw attention to “Wall Street’s predatory student loan market, as well as the corrupt practices at educational institutions.”

“1TDay will spotlight the long-term financial and social effects on students and families with insurmountable student loan debt,” the press release states.

Occupy Wall Street has organized “solidarity actions” in cities across the country. In locales such as Newark, Delaware—Sallie Mae’s national headquarters—students plan to burn their loan cards. In New York City, the birthplace of the Occupy movement, mock celebrations will be held with Reverend Billy and the Stop Shopping Choir.

—check out this week’s IN coverage of the student-loan debt crisis; it hits the web Wednesday afternoon and the streets Thursday morning.

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