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And I want to work with this Congress, to make sure Americans already burdened with student loans can reduce their monthly payments, so that student debt doesn't derail anyone's dreams.
Oct 1, 2025
Every time a bank swoops down to snatch up a home, it should be met with a crowd of jeering, obstructive neighbors. And although this may be point 4.5, how about organizing a mass refusal to pay back student loans?
I would get my student loans, get money, register and never really go. It was a system I thought would somehow pan out.
Pay off your student loan. Even if you don't have a job...Because when you finally get a job you're going to be one of us.
Learn how to prioritize all your debt. And did you know student loan debt is the most dangerous debt any of us can have?
This is a derivative, if you will, of Cloward-Piven [theory]. "[Stephen] Lerner's plan is to organize a mass, coordinated 'strike' on mortgage, student loan, and local government debt payments - thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans.
Let's say you're all worried about student-loan debt and you need to have steady income. That doesn't have to be your everything.
You're thinking to yourself, 'How is it possible that I am going to pay back $150,000 in student loans? I'm never going to pay that back. What am I going to do?' Listen to me and listen to me good, class of 2013. I want you to think back to all of these things you said to yourself, 'I can't do that. I can't palpate a cow. And what's worse, palpating a cow or taking semen from a horse?' But you did it, didn't you?
What I want to do first with education is my student loan idea. Basically, if you go into teaching and teach for five years, your student loans should be forgiven. It doesn't cost that much.
There is a much bigger issue with student loan rates, the cost of tuition; those are some huge problems that need to be resolved.
The whole student loan thing drives me completely nuts. If it wasn't possible for 18-year-olds to sign themselves up for tens of thousands of dollars in debt in order to pay their college bills, the state governments wouldn't have found it so politically easy to cut taxpayer support for public colleges and universities.
As president, I will fight to make tuition in public colleges and universities free, as well as substantially lower interest rates on student loans.
When the time came for me to go to college, there was only one scholarship that my high school offered at the time and I didn't win that one, but that didn't stop me. I went on to college anyway. I worked my way through it and paid my student loans for 11 years.
And I do not want, and I will not accept, a deal in which I am asked to do nothing, in fact, I'm able to keep hundreds of thousands of dollars in additional income that I don't need, while a parent out there who is struggling to figure out how to send their kid to college suddenly finds that they've got a couple thousand dollars less in grants or student loans.
In Germany, college tuition is free. In America, college tuition is increasingly unaffordable. In a highly competitive global economy, which country do you think will have the best educated work force and a competitive advantage? We must make tuition free in public colleges and universities and substantially reduce interest rates on student loans.
By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good paying job.
Without the jobs being available to enable them to repay that [student-loan] debt in the course of their financial lifetimes, basically.We maintain that, yes, that's a significant chunk of change - it's $1.3 trillion - but what investment is more worth making than in a generation that does not have a future?
I just thought acting would be something to help out with my student loans, but my first year as an actress, I made more money than my parents. That's when I realized it could turn into a career. After that, I put everything I had into it.
Seventy-eight percent of millennials are worried about not having enough good paying job opportunity to pay off their student loans. Seventy-four percent can't pay the health care if they get sick. Seventy-nine percent don't have enough money to live when they retire. So, already, we're having a whole generation that's coming on, not only here but also in Europe, that isn't able to get good-paying jobs.
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.
If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.
People look at the future and see a black hole. They look at climate change and see an ecological crisis. They look at their leaders corrupted by money and see a political crisis. They wonder if they'll ever be able to pay off their student loan or own a house. Given this ecological, political and financial crisis, what they want is a different future. Their fundamental demand is a different regime to provide that future.
In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.
Government's running the student loan program; what in the world could be wrong with it? If the government's running it, if Obama's taken it over, and he's got a lot of compassion, a big heart, loves people, what could possibly be wrong with it? And then the subject of tuition came up, and how come tuition never gets cut? Why does tuition always go up? Guarantee, folks, when you subsidize something, if you run a university and the government's gonna subsidize parts of your operation, why in the world should you cut anything?
Student loans are destroying the imagination of youth. If there’s a way of a society committing mass suicide, what better way than to take all the youngest, most energetic, creative, joyous people in your society and saddle them with, like $50,000 of debt so they have to be slaves? There goes your music. There goes your culture. There goes everything new that would pop out. And in a way, this is what’s happened to our society. We’re a society that has lost any ability to incorporate the interesting, creative and eccentric people.
Quite frankly, Barack Obama knows what it's like to pay a mortgage and student loans. He knows what it's like to watch a beloved family member in a medical crisis and worry that treatment is out of reach. Barack Obama knows our struggles. And, my friends, he shares our values.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.
Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.
We call for a bailout for an entire generation that is basically held hostage by unpayable student-loan debt.
Believe it or not, when we were first married, our combined monthly student loan bills were actually higher than our mortgage.
Private student loans should be avoided at all costs.
Just like a house is worth whatever a bank's going to lend against it, an education is worth whatever the bank is going to lend the student to pay the university. So the availability of government-guaranteed student loans has vastly inflated the cost of education, just like it's inflated the cost of housing.
Student loans have been helpful to many. But they offer neither incentive nor assistance to those students who, by reason of family or other obligations, are unable or unwilling to go deeper into debt. ... It is, moreover, only prudent economic and social policy for the public to share part of the costs of the long period of higher education for those whose development is essential to our national economic and social well-being. All of us share in the benefits - all should share in the costs.
People just want to see something happen that is positive for them in their lives. If you're struggling to pay your student-loan debts, or if you've got a kid trying to go to college and don't think you're going to be able to afford it, it really matters whether you get help or not. If you don't have health care or you have insurance but the insurance company won't pay for what your doctor says you need, then what's the point of people arguing in Washington? Why don't you give me some help to fix this problem? I will work with anybody if I think we can actually produce results for people.
We can talk about republican or democratic approaches to the economy, but until you fix the student loan bubble - and that's where the real bubble is - and the tuition bubble, we don't have a chance. All this other stuff is shuffling deck-chairs on the Titanic.
I have fought to protect those benefits that ensure better salaries for teachers across the Nation such as grants to pay off student loans and funding for Teach for America. Still, we must all do more to show our continued appreciation for our Nation's leading role models.
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist before - private for-profit universities that sell junk degrees that don't help the students. They promise the students, "We'll help you get a better job. We'll arrange a loan so that you don't have to pay a penny for this education." Their pet bank gets them the government-guaranteed loan, and the student may get the junk degree, but doesn't get a job, so they don't pay the loan.
It's critical to level the playing field, to make prices and risks clear up front, so when someone signs on for a student loan or a mortgage or a credit card, they know the tricks and traps hidden in the fine print. That's why the Consumer Financial Protection Bureau has been working on a new financial aid shopping sheet. A shorter, two-page credit card agreement, a simpler mortgage disclosure form. All those are aimed toward helping people understand the basic bargain.
In housing you have jingle mail and you can walk away and leave the bank holding the bag. In the case of student loans, the debt follows you through life, and the banks or government will turn it over to collection agencies that are not very nice people and can do all sorts of harassing things to you. It's becoming a nightmare.
Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.
We need to make college affordable in price, and also have lower-cost student loans and more available grants for students.
The Fed needs to adopt new tools, on its own and perhaps in cooperation with the other parts of the US government, to improve the economy from the bottom up. This includes increasing facilities for debt forgiveness for under-water mortgages and excessive student loans; increased credit facilities for small businesses and cooperatives; helping to underwrite mechanisms for creating affordable housing in cities; and more restrictive enforcement of financial regulatory rules to help rein in excessive banker risk and pay.
You can use the [Barack] Obama administration as a recent example. For seven years they've been unopposed. The Republican Party's not trying to stop 'em on a single thing. Much of Obama's agenda has been a success. He has been able to attack various traditions, institutions, and taken over the health care system in this country. They've taken over the student loan, they've taken over the education system, and everybody in it is miserable and unhappy.
In this particular historical moment, the notion of conjuncture helps us to address theoretically how youth protests are largely related to a historically specific neoliberal project that promotes vast inequalities in income and wealth, creates the student-loan-debt bomb, eliminates much-needed social programs, eviscerates the social wage, and privileges profits and commodities over people.
I'm here not just as an actress but as a woman, an African-American, a granddaughter of Ellis Island immigrants, a person who could not have afforded college without the help of student loans and as one of millions of volunteers working to re-elect President Obama!
If we wanted a program to help the majority of the population, we'd offer loan guarantees to help poor people get access to reliable cars so that they could have a better shot at getting - and keeping - a well-paying job...A small amount of capital could make a much bigger difference in their lives than extra student loan relief for middle-class college kids would.
Increasing access to federal student loans has been a bipartisan effort in Washington, one that I have supported. But it has created what many experts believe is a bubble in higher education, not unlike the housing bubble that preceded the financial crisis.
Right now, with millions of Americans still out of work, and struggling to recover from the worst economic downturn since the great depression, with 40 million Americans dealing with student loans, with millions of people working full-time at minimum wage and still living in poverty, with the big banks getting bigger and the workers getting poorer, and seniors struggling to make ends meet, Republicans in Washington have decided the most important thing for them to focus on is how to deny women access to birth control.
[Wendy] Davis [pursued] higher education, as her campaign website says, with 'the help of academic scholarships, student loans, and state and federal grants.' Now that she is in a high-profile and hotly partisan race, it has come out that she also benefited from the moral and financial support of her second - now ex - husband. In the process, though, behavior we would expect and hardly notice in a man is being portrayed as freakish and problematic in a woman.