Student Debt - Student Reactions

Student Reactions

The growing problem of student debt has caused many reactions from young people throughout the United States. As a result, the Occupy Colleges and Occupy Student Debt movements merged in 2012 in an effort to gain support from students around the country. There have been significant efforts made via social media for the Occupy Student Debt campaign. In particular, students all over the United States have posted their personal student debt testimonies. Since last October, Occupy Student Debt has provided a platform for over 800 students to share their horror stories. Because of this, other organizations such as, Rebuild the Dream, Education Trust, and the Young Invincibles, have joined in the effort and started similar platforms. The Occupy College movement itself has staged over 10 direct actions. They have also gathered over 31,000 signatures on the White House’s petition site, “We the People”. As a result, President Obama announced the “Pay as you Earn” initiative. Another petition, titled 'Support the Student Loan Forgiveness Act of 2012' on MoveOn.org, which seeks similar relief for student borrowers, has gotten over one million signatures. HR 4170: “The Student Loan Forgiveness Act of 2012” would give relief to borrowers with both federal and private student loans. HR 4170 also includes the “10-10” programs, which allows borrowers to pay 10% of their discretionary income for ten years with the remaining balance forgiven afterwards.