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AFT On Campus
May/June 2012

 

Feature Story
Occupy Sallie Mae!

They came for conversation; instead, they got arrested!

Hundreds of fired-up and fed-up undergraduates from all over the nation marched up a major Washington, D.C., thoroughfare on March 26, carrying a message: “Sallie Mae, You can’t hide. We can see your greedy side.”

They filled the street outside the D.C. offices of Sallie Mae, and 36 were arrested after occupying the front entrance to the building. They were asking for a meeting to discuss student debt forgiveness.

With student loan debt passing the $1 trillion mark in April, education debt is the next bubble, say the students. A major part of the problem is banks like Sallie Mae—the largest private lender, which made $2.7 billion in loans last year and has invested millions lobbying to secure loan terms that favor the private banks and ensure large profits at the expense of students and families.

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About AFT On Campus

AFT On Campus is the newspaper of AFT’s higher education division. It covers issues of interest to full-time and part-time faculty and academic staff at colleges and universities, as well as topics such as the academic staffing crisis, academic freedom, funding, federal legislation, and the advocacy and professional work of members. AFT On Campus is published five times a year and is mailed to all higher education members of the AFT as a benefit of membership. Single copies are free on request. Questions, comments and inquiries about AFT On Campus should be sent to its managing editor Barbara McKenna.  
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Student loan debt jumps ahead of credit card debt

Credit report analysis shows growing burden of paying back college loans.

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