We're being TRICKED.

Everyone:

​You've probably heard that the President is extending the student loan pause until September.  This is good news for many, but beware: THIS IS A TRICK.

In the press release, The White House says they'll put defaulted loans back into repayment, calling it a "fresh start".  They don't mention returning bankruptcy rights, and also make no mention of cancelling loans by executive order.

Sadly, leading democratic senators like Elizabeth Warren are both leading, and cheerleading it along. 

We've been warning for years, now, that the student loan complex would try hard to foist fake loan cancellation upon us and keep bankruptcy protections gone from the loans.  This is clearly laying the groundwork for exactly that.   Their strategy is almost certainly to extend the pause until just before the election, do an "Up to $50,000" loan cancellation (which will be bureaucratized to mean almost nothing for almost everyone), keep bankruptcy gone from the loans, and add another 20+ years onto the life of this weaponized lending system. 

Senator Warren taught bankruptcy at Harvard Law School for many years.  One of our first splashes- and Senator Warren's first splash- in the national media was in a seminal top story on 60 minutes in 2006, where she nailed it on bankruptcy.  To see her now not fighting for bankruptcy, and in fact her deafening silence on whether she supports bankruptcy legislation, speaks volumes.

Senator Warren knows that the "Fresh Start" that is needed is S.2598, the FRESH START THROUGH BANKRUPTCY ACT.  

The democrats control the Presidency, House, and Senate right now, which is very rare.  They have ONE SHOT at solving the student loan problem between now and November, if they are to have any chance in the mid-terms.  If they continue on this course, they will be crushed by voters who are far smarter than they are being taken for.  

YOU SHOULD BE EXTREMELY CONCERNED.  I'll do a livestream explaining this tonight  at 6:30pm est.  In the meantime: Today's action becomes EXTREMELY IMPORTANT:

• Retweet this, this, this, and this, & follow us on twitter.
• Call Senator Tom Cotton, (202) 224-2353, Tell him strongly to cosponsor S.2598.
• Call both of your Senators

Will you PLEASE not let this drop? WE NEED YOU FIGHTING RIGHT NOW.
-Alan
ps.  Join your state chapter