Everyone who has a student loan knows how unfair it is, and that the loans will follow you and any cosigners to their graves. Student loan debt is almost impossible to get discharged in bankruptcy, defaulted federal loans result in harsh penalties including garnished wages, tax refunds and even garnished social security payments.
Earlier this week, I noted that some small progress has been made in discharging loans in bankruptcy. There is finally talk about reducing the amount of money that can be reduced from social security. Small steps in the right direction, but it's not enough.
Here is a question everyone who can vote should be asking themselves. Why does my country use taxpayer money to bail out banksters who got into trouble speculating on crap investments, and refuses to help the students who took out loans to get ahead and get a good job?
Here's another troubling issue - many of the students who took out loans were deceived by fraudulent statistics to lure them in, and then screwed over by loan sharks like Sallie Mae. Why is Congress sitting on its fat ass and not helping?
In a nutshell here's why: The banks own Congress, and Congress wants to make them happy. Students don't do anything for Congress. So maybe this next election, we only vote for someone who has a bailout plan in mind for Americans that deserve it, not a bunch of rich bankers who, despite inside information and lots of cash, still managed to not only lose money, but almost brought down the country.