The Debt Collective in Action With Student Debtors

OCCUPY THE DOE’S AGENDA!

We invite you to join us at the Department of Education Public Hearing to support current and former Corinthian (Everest, Heald, and Wyotech) students who will be speak directly to DOE officials to tell their stories and demand debt cancellation.

Tuesday, November 4, 2014 1-4PM (PST)

Department of Education Public Hearing
700 West Convention Way, Grand Ballroom E
Anaheim, CA

Or watch online here.

What’s the Background?

On September 17th, Strike Debt launched The Debt Collective, where we are developing a new platform for organization, advocacy, and resistance. We aim to build power to bargain with creditors or even to threaten a debt strike. As we build membership, debtors can join together based on region, type of debt, or lender.

Alone our debts are a burden; together they make us powerful.

People already get it. Denny in South Dakota emailed us to ask, “Is it possible there are others who have some of my issues in common? Is there an opportunity to collectivize this issue?”

Phil in California asked a similar question, "Do you have a collective group of Bank of America Mortgage debtors?” Denny and Phil’s questions show that people already understand what the debt collective can do.

People are ready to organize and begin demanding fair terms: fair interest rates, fair principal amounts, even the abolition of unjust debts.

Why Start With a For-Profit College?

The Debt Collective’s pilot project is with current and former students from for-profit Everest college. Everest, like other for-profit schools, targets students from low-income households, disproportionately from minority backgrounds. As Everest’s parent company, Corinthian, falls apart and its predatory practices are revealed, students are still expected to pay back their loans.

If Everest students join together, we believe they can win a full debt discharge. Their victory will help us demonstrate debtors’ collective power and other groups can be formed to follow their example.

What Will Happen at the Hearing?

On November 4th, we have a unique opportunity to demonstrate the power of debtors acting collectively at the Department of Education public hearing.

If you live in the Los Angeles area, we invite you to join us at the event.

If you don’t live in southern California but still want to support students, go here, starting at 12p PST, to help share students’ messages, see video clips, and watch the livestream of the hearing.

Please follow the Debt Collective on Facebook and Twitter.