Under a 2005 law passed by Congress to protect lenders, private student loans fall under the same nearly-impossible-to-clear category as child support payments and criminal fines.

11 comments on “Under a 2005 law passed by Congress to protect lenders, private student loans fall under the same nearly-impossible-to-clear category as child support payments and criminal fines.
  1. Heinrich Moltke says:

    In an amusing development, they’re now denying passport renewals to people in trouble with their student loans.

  2. Jasha Blanka (SLA, YCC) says:

    The Republicans like to talk up family values. Then they pass laws that destroy families. Just when I think America has hit rock bottom, Washington starts to dig.

  3. The seed capital for the housing market derives mostly from first time buyers! now shackled with student loans. The prospects of recovery in this market look grim, if this issue is not resolved!

  4. Bruce says:

    Another debt bubble that will pop?

  5. JonnyJames says:

    Bankster Mafia: “What’s the freakin problem? Nothin personal, just business. You want an education? Sign on the dotted line. Initial here. Now welcome to a lifetime of Debt Peonage, We got you by the short and curlies for life, you are our bitch now”

    “You want access to health care? Same deal. Debt Peonage for life.”
    Who says slavery is dead in the USA, we got brown skinned slaves workin in the fields, and white-skinned slaves workin in their cubicles to pay their debts. The rest are homeless untouchables.

  6. t-rex says:

    child support payments and criminal fines…and students loans.. your not a true american if you havent had all three. 1st student loan, then criminal fine, then support, then criminal fine, then student loan, more support, another fine (criminal) , another fine, 18 to 21 years of support, criminal, another fine. debt slave by nature

  7. Student loans are a life sentence.

  8. Robert Mockan says:

    This is so sad. Many years ago a device called the flotation tank was modified with a controlled audio and video input displaying college course text books for studying, a liquid proof tablet one could write on while submerged, displayed on a screen, and audio input for concurrent voice and image overlays on the study material. The invention was called an education cell, and like a teaching machine, but greatly advanced, helped learn faster, with deep memory insertion of the learned material. The acceleration rate for learning was over a factor of 20 in preliminary tests. That is, 20 times faster than the conventional classroom environment. In other words, a 4 year college education, ordinarily about 32 months long, could be acquired in about one and one half months. Then the courses for the college degree could be taken, and passed, by exam. In fact, the limiting variable in the acceleration process was the intrinsic limitation of neural construct processing in the human brain. Simply, the human brain could not function faster while processing the insertion of long term memories, limited by its organic structure. The technology was never developed, indeed few people have imagined it was possible, even today.

    But debt slavery could not exist with government controlled schooling replaced by a vastly superior accelerated real education. Another paradigm changing technology denied.


  9. Jayme says:

    1T Day: As U.S. Student Debt Hits $1 Trillion, Occupy Protests Planned for Campuses Nationwide

  10. Sleep Well Silver says:

    Banks bailed out students enslaved for life America the land of free?

Watch the latest Keiser Reports:

Buy Gold Online
Buy Gold Online