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Friday, June 19, 2015

Default: the Student Loan Documentary

Default: the Student Loan Documentary chronicles the stories of borrowers from different backgrounds affected by the student lending industry and their struggles to change the system. No matter when their loans were taken, many borrowers find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin.

This version was released on PBS late October 2011 and has since gone on to screen at over 142 public broadcasting stations, screened at over 200 college campuses and events, featured in over 200 media outlets including The Nation, Forbes, the Washington Post and the Wall Street Journal.

We are happy to release the documentary for free online, for anyone who wants to learn more about student debt and for groups who want to organize for change.

Joe Mihalic had over 90k in Harvard Business School student loan debt just 7 months ago... and now he's debt free. How did he do it? We have an excerpt from a video he produced explaining his strategy, and John Iadarola discusses it on TYT University.

Student Loans: More Debt, More Defaults, More Problems


Americans owe $1 trillion in student loan debt. How did that happen, and what's the impact on the nation's economy? Economics correspondent Paul Solman reports as part of his Making Sen$e of financial news series.
 
The average person graduating from college in 2013 borrowed nearly $30,000 in student debt. To help Americans overburdened by their loans, President Obama signed a new executive order that expands on a 2010 law that capped federal loan repayments at 10 percent of borrowers' monthly income. Gwen Fill