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The Long Fight to Cancel Student Loans


How student debtors took a radical idea to the mainstream
Illustrations by Lyndon Hayes
In the summer of 2007, Thomas Gokey had just graduated from the School of the Art Institute of Chicago, and he was thinking about how much his degree had cost him. His diploma was a simple piece of paper, but it came with a price tag of thousands of dollars dollars that were themselves pieces of paper, transmitted to him in the form of student loans, which he now owed to the federal government. While chewing on this thought, he had an idea for a project that would occupy him for much of the next year. He obtained a letter of permission from the Treasury Department’s Bureau of Engraving and Printing to go to a Federal Reserve bank of his choice and pick out some shredded bills from its stores of mutilated currency. One day, he walked over to the Federal Reserve Bank of Chicago, five blocks from the Art Institute, and asked for some money. ....

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Hans G. Despain: The student loan debt sentence


Hans G. Despain: The student loan debt sentence
Hans G. Despain
Political pressures for student loan forgiveness have been mounting for the past decade. There have been lender jubilees for financial institutions and massive bank bailouts, why not a jubilee for borrowers? 
National politicians should follow the lead of Massachusetts State Sen. Eric Lesser (D-Frist Hampden and Hampshire), who proposed a Massachusetts “Student Loan Bill of Rights.”
President Trump’s and Secretary of Education DeVos’ implementation of deferments is greatly welcomed, but only temporarily shepherds college debt burdens until Jan. 31, 2021. 
DeVos has been tone deaf to student debt burden urgencies. It is not clear where Biden’s secretary of education nominee, Miguel Cardona, stands on student loan forgiveness, but it is clear the Biden administration will face mounting pressure to even-the-playing-field between financial Titans and American citizens. ....

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