For the 7 million Americans in default on their student loans – life can be a nightmare. They have to deal with debt-collectors calling them at any hour on any day of the week – as well as the ever-looming threat that one day they won’t be able to pay their bills. They also have to deal with the shame of getting their wages garnished. Of course – for the for-profit private companies who’ve managed to get their hands on the student loan revenue stream – this is a big-time money-making opportunity. They already earn fees for various types of loan repayments – and continue to soak in the cash even when a borrower goes into default. Welcome to the insanity of the American education system – which is almost completely unique in the developed world in making students – our intellectual infrastructure – go into debt to go to college. Luckily – progressives all across the country are joining up to try and make debt-free college a reality right here in America. Sarah Badawi, Progressive Change Campaign Committee(PCCC), join Thom. – Thom Hartmann’s Big Picture
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