The Root Cause of the Student Loan Problem.

Hey Everyone: 
So you know...
The root of the skyrocketing cost of colleges is that there is a nearly unlimited revenue source in federal #studentloans for the colleges to draw from, which predictably, leads them to raise their prices unchecked.  
The root of this lies in the fact that the government has found a way to make a profit on the loans, EVEN in the case of defaults, so it is happy to shovel out as much as is wanted.  The root of THAT ( risk-free profit for the government) is the fact that nearly every standard consumer protections has been removed from the loans (bankruptcy rights, most notably, but there are many others), which ensures that the government will always make a profit- and a HUGE ONE- from these loans (many decades of White House Budget Data show that the government actually makes a profit on defaulted student loans, which is incredibly and unprecedented).  
So...THE CORE OF THIS PROBLEM IS THE REMOVAL OF THESE FUNDAMENTAL CONSUMER PROTECTIONS!
The Founders called for uniform bankruptcy laws (aka uniform bankruptcy RIGHTS) ahead of the power to raise an army and declare war in the US Constitution. That this has been uniquely stripped from these loans is the ACTUAL, TRUE CORE of this problem. With standard bankruptcy rights returned, the Department of Education will be forced to cancel student loans en masse- perhaps even entirely- without anyone even having to file.  
They will HAVE to pre-emptively cancel loans to prevent the largest wave of bankruptcy filings in the nation's history. Remember: when people file bankruptcy, they usually bring ALL of their debt into it, which includes credit cards. If bankruptcy were returned tomorrow, ALL of the banks would rush to our side, and DEMAND that the loans be cancelled so as to protect their own credit card, and other loans.


This is the TRUE POWER of bankruptcy, and why we are fighting so hard for it. It's not obvious unless you think about it, but it is absolutely true. 


Whatever your opinion of the Founders of this country might be, they knew something of fundamental importance when they called for a uniform bankruptcy system ahead of the power to raise an army, declare war, and ALL of the rights enumerated in the Bill of Rights.  


This student loan scam is exactly the sort of tyranny they were trying to protect the country against. If we lose this battle, folks, they can and they WILL make bankruptcy similarly non-dischargeable for ALL consumer debt! I hear increasing murmurs from Washington about extending this to medical debt...but there is no limit to how far they will take this. They'll remove bankruptcy rights from everyone but the billionaires, corporations, banks, if they are allowed to.


You want to know why we fight so hard for the return of uniform, constitutional bankruptcy right to #studentdebt? This is why.


Please Help Us Fight!