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Thom's blog
Would You Like Some Crippling Debt with that Degree?
Wall Street-style predatory capitalism has taken over our education system, and it's absolutely devastating a whole generation of young people.
When Latonya Suggs enrolled at Everest College, a branch of the for-profit Corinthian Colleges system, she thought she was taking the first step towards realizing her American Dream. But tens of thousands of dollars later, she realized that Everest wasn't all it was cracked up to be.
As Suggs told Democracy Now! recently, Everest didn't do anything to help her find a job after she graduated and was more interested in making money off her student loans than it was in making sure her degree was put to good use.
Latonya Suggs now has around $63,000 in student loan debt to her name, which is why last week she joined fourteen other former Corinthian Colleges students in refusing to pay back her student loans.
This is the nation's very first student loan strike, and it comes just as the government takes action against Corinthian Colleges for running what it calls " an illegal predatory lending scheme."
According to the government, "Corinthian lured tens of thousands of students to take out private loans to cover expensive tuition costs by advertising bogus job prospects and career services. [It] then used illegal debt collection tactics to strong-arm students into paying back those loans while still in school." In other words, Corinthian Colleges isn't an education company as much as it's a bloodsucking debt collection agency
-Thom
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Tonight on The Big Picture on RT TV at 7pm and 10pm... (check your local listings for stations or stream at RT or Free Speech TV, and catch past shows on Youtube)
Geeky Science: We are destroying the lungs of our planet
Daily Take: Would you like some crippling debt with that degree?
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Monday's Daily Stack 
Hour One: When is enough...enough?
Quote: " If you take out Saddam, Saddam's regime, I guarantee you that it will have enormous positive reverberations on the region" - Benjamin Netanyahu by Zack Beauchamp. Quote: "A criminal is a person with predatory instincts who has not sufficient capital to form a corporation" - Howard Scott.
Economic and Labor News |
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Tuesday on The Thom Hartmann Program, 12-3pm ET
I'll be broadcasting live from the Families USA radio row across the street from the Supreme Court of the United States, where they will be hearing the latest Obamacare case.
And, the best of the rest of the news along with your calls right here on...
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