And The Debt Collective Does the Department of Education’s job - Again
On February 19th, fifteen graduates of Corinthian Colleges, Inc declared they would no longer pay their federal loans in the country’s first-ever student debt strike. Since then, number of Corinthian student debts strikers has grown to 190.
The students have demanded a complete cancellation of their loans on the grounds that they were defrauded and scammed. They’ve won the support of thirteen members of Congress, nine Attorneys General, and many others.
Now, over one thousand graduates from a variety of colleges (including for-profit, public, and private non-profit institutions) have announced a collective threat to strike their own loans in solidarity with Corinthian students should Department of Education fail to cancel ALL Corinthian students’ federal loans.
Those who have signed on to the solidarity strike threat know that a win for Corinthian is a win for all student debtors.
Fight back. Sign the solidarity strike threat on our website:
In related news, the Debt Collective is doing the Department of Education’s job...again. The agency refuses to cancel defrauded students’ loans, even though they are obligated to do so under the law.
Students are tired of waiting for the Department of Education to do something besides talk.
This week, the National Consumer Law Center wrote to the Department showing how the agency could use its powers to cancel ALL Corinthian loans. Without a doubt, the Department of Education has the legal authority to issue class-wide debt discharges. Why won’t they use it?
To help out the Department of Education, the Debt Collective has worked with attorneys to prepare a two-page “Order for Discharge of Federal Student Loan Debts” that Education Secretary Arne Duncan could sign to immediately initiate a full discharge of all the federal student loans held by Corinthian students.
Secretary Duncan, why don’t you do your job and sign this document to legally discharge defrauded students’ debts?
If you don’t use the authority Congress specifically gave you, it will be a clear signal that downplaying the Department’s mistakes is more important than protecting students. If you decide to force injured students to re-prove the harm done them, before long, you can expect the student debt strike to grow.
Ask Secretary Duncan to sign the Order of Discharge on Twitter (click the link below to tweet at the Department of Education):