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Privatizing Extortion
Jim Kirwan
3-12-9
 
 

Americans have been deluged by various forms of political deception and extortion to keep the public docile through intrigues and debt to the point that few have any time left-over to even think about everyday politics.
 
One of the keys to this kind of mental pressure is the horrific illegality behind the College loan business that has become a privatized extortion racket which makes professional loan sharks look like amateurs. There are no regulations that apply to this particular financial rape of prospective college students that find themselves in need of "loans" to complete their formal 'education.'
 
Under this kind of pressure, that can often ruin the lives of many 'students' for decades-one side benefit for the government has been the state of near paralysis which this kind of 300% interest, on those college loans, can produce. It was not supposed to be this way!
 
"According to the College Board, the average cost of four years at a private college is now a staggering $136,000. Four years at a public university, on average, will set you back $57,000. In order to pay for the rapidly increasing tuitions, students were forced to borrow a total of $85 billion during the last school year, up from $41 billion ten years ago. The average student now leaves college with $20,000 in debt.
 
This is an excerpt from the forthcoming documentary Default: The Student Loan Documentary, a film by Serge Bakalian and Aurora Meneghello.
 
FORMER STUDENT 1: The Citibank Student Loan Corporation would send me these notices, and they'd say, "This is just to notify you of your interest rates." And then they started sending me ones saying, "This is just to notify you of a change in your interest rates." And it was like-it was like watching the odometer on a car.
 
FORMER STUDENT 2: I remember thinking, "What happened to the nine percent? Where did this 17 percent come from?" and seeing the number, something like $900-something a month for my private student loan and immediately realizing that was more than I make in a month.
 
ALAN COLLINGE: The most recent estimate is that the amount of outstanding student loan debt in the country is approaching $40 billion, with a "b." And that is only the federally guaranteed student-defaulted student loan debt that is out there. We're not counting the private loans in that, which is probably another $5 billion to $10 billion, and growing quickly.
 
FORMER STUDENT 2: The original loan amount was $45,974. And this last statement I received on December 16, 2007, indicates that the outstanding balance is $73,789. So it has accrued just shy of $30,000 in interest.
 
FORMER STUDENT 1: If you look at it in the roundhouse figures, OK, it was $30,000 to go to UNR for three years. They now say that I owe about $90,000. So it's tripled. They can seize Social Security. They can seize tax refunds. They can garnish your wages. Like if I get hit crossing the street by a bus and I end up in a wheelchair, they can seize my disability.
 
AMY GOODMAN: The documentary Default: The Student Loan Documentary. More information about the film is available at the website defaultthe movie.com." (1)
 
With garbage like this in the path of getting an education for "jobs" that no longer exist, is it any wonder that the college campuses are virtually devoid of any real protests that concern any of the myriad of other things which this ?government is doing to people of every generation?
 
'Confusion' has always been a major ally in this battle between ordinary people and their supposed 'government,' especially during this time of national and international upheaval.
 
It is clear that Obama will do nothing about this or any other crime against this society; because it is his job to keep the herd quiet for as long as he can: while every aspect of this society is stolen, perverted or simply ignored on the way to the One World Bank for which he was appointed to be the chief puppet and all- round cheerleader-in-charge. He is a nightmare that makes Cheney- Bush look like the paupers they were-when it comes to selling out this nation. Here is a twelve-part condemnation of who and what has taken over this country, that makes the crimes involved in the sabotage of higher-education look like barely a footnote in this litany of treason and criminal conspiracies. (2)
 
kirwanstudios@sbcglobal.net
 
1) The Crippling Rates on Student Loans
http://www.democracynow.org/2009/3/12/ reduce_the_rate_rev_jesse_jackson
 
2) The Obama Deception Parts 1-12 vid
http://www.youtube.com/watch? v=KrpRocaEfQE&feature=PlayList&p=9657816B36974DC0&index=0&playnext=1
 
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