Tag Archives: Alan Collinge

Student Loan Cancellation will not Benefit the Wealthy, Alan Collinge, Student Loan Justice Org. Alan Collinge History In 1972, allegations about students abusing bankruptcy3 courts were beginning to make headlines. Major newspapers were publishing anecdotes about students who took out large college loans. Supposedly then, young graduates or students quickly declared bankruptcy to avoid paying them off. The Congressional Commission on Bankruptcy...

Alan Collinge’s Student Loan Justice Facebook page. I keep talking about how the consolidation fees, late fees, forbearance interest, etc. and the interest on the previous adds up over time. Pretty soon, it surpasses the original loan balance. There are probably worse examples of this occurring. As it is, the non-principal payments are more than twice the original principal. The original loan was $105,000. As you can see there is ~$81,000 in...

An Intro and some history: Alan Collinge at Student Loan Justice Organization. Alan has collected 1,065,931 signatures on his petition asking President Joe Biden to cancel student loan debt. His new goal is to reach 1.5 million signatures. If you believe in the cause you should sign his petition. Petition · President Biden: Cancel Federal Student Loans, and Return Bankruptcy Rights to the Rest. · Change.org Just a signature is all Alan is...

“Americans stress over ‘unshakeable burden’ of student loan payments,” The Guardian, Michael Sainato, May 2020 The nation can alleviate one person of their debt multiple times; but, it can not do so for the younger contingent consisting of minorities and white former students who would add to the growth of the economy if freed. Much ofd this debt consists of usurious penalties, the interest on those penalties, forbearance interest and the interest...

While commenting on Alan Collinge’s Student Loan Justice site about much of what is being revealed here, I pointed out the problem with interest, interest on top of interest, paying interest before principal, etc. . It is a problem. You never touch principle. I am very happy to see the Student Loan Justice site and Alan get the attention it deserves with this article by the Insider. It is unbelievable, people are accruing interest during...

Naked Capitalism had an article up in the “Links” assortment of other articles taken from various sites. The Common Dreams article touched upon one of the topics I write about and have done so over the last decade – Student Loans and Alan Collinge’s Student Loan Justice Org. In my public discussions with Alan and his followers on Facebook, I have pointed out the $1.6 trillion or the $1.8 trillion as stated in this article are important numbers to...

Some State AGs Take Action Seventeen State Attorney Generals signed and sent a letter to Congressional leadership (Schumer, Pelosi, McConnell, McCarthy) calling on Congress (Friday February 19) to pressure President Joe Biden to cancel up to $50,000 in federal student load debt for borrowers as a part of pandemic relief. The AGs write: “As the Attorneys General of Massachusetts, New York, Connecticut, Delaware, the District of Columbia, Hawaii,...

There are those who always raise the issue of “I paid for mine, you pay for yours. I know of no other debt created by borrowing money where the penalty is a life time of servitude and the means of retirement in Social Security is also attached too. Principal remains untouched and whatever money paid goes to interest atop of interest and penalties. By the time salary catches up and if it does, the interest and penalties have grown. Allen...

There are those who always raise the issue of “I paid for mine, you pay for yours. I know of no other debt created by borrowing money where the penalty is a life time of servitude and the means of retirement in Social Security is also attached too. Principal remains untouched and whatever money paid goes to interest atop of interest and penalties. By the time salary catches up and if it does, the interest and penalties have grown. Allen...

First a story, then an introduction to Alan Collinge of Student Loan Justice Org., and finally some cold hard facts from Alan about what is happening to millions of people who have student loans. Your Angry Bear blogger and activist went to a garden party in Michigan in support of Democrats and Senator Debbie Stabenow pre-2018 election. I had donated to the Democrats and directly in support of various county, state, and federal candidates. Since I had...