Student Debt Loans = Organized Crime with the US government as the Enforcer and the Big Banks Cashing in.
Reveal report on how private debt collection companies and the privatized Sallie Mae rip off students. High fees and high interest rates along with private debt collection companies that call and threaten students at 5 am, leave students almost in the position of indentured servants. The government insures the loans and then hires private companies to collect them. Private equity funds controlled by Citigroup and JP Morgan Chase bought the collection companies. SEc'y of Education Betsy DeVos recently tried to prevent students from getting relief from for profit colleges that went out of business and that were guilty of false advertising. Colleges raised their rates knowing that many loans were available, and states cut back their funding. Consumer Reports lists articles about student loan debt crisis. Politicians get paid off. CEOs make over $ 200 million per year. The private collection companies break the rules over and over, yet are not punished much, as they are "politically connected" . A tyrannical law was passed to prevent students from using bankruptcy to escape. Wages are garnisheed.