Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Occupy Movement Buys & Forgives $4 Million In Student Loan Debt
Posted
September 19, 2014
Views
54,208
Likes
1,379
Comments
369
Engagement
3.22%
September 19, 2014
54,208
1,379
369
3.22%
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6:18Now Playing"After forgiving millions of dollars in medical debt, Occupy Wall Street is tackling a new beast: student loans.
Marking the third anniversary of the Occupy Wall Street movement, the group's Strike Debt initiative announced Wednesday it has abolished $3.8 million worth of private student loan debt since January. It said it has been buying the debts for pennies on the dollar from debt collectors, and then simply forgiving that money rather than trying to collect it.
In total, the group spent a little more than $100,000 to purchase the $3.8 million in debt.
While the group is unable to purchase the majority of the country's $1.2 trillion in outstanding student loan debt because it is backed by the federal government, private student debt is fair game.” *
John Iadarola () and Ana Kasparian () discuss.
*Read more here from
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Mily Cyrus Vs. Mexico, NFL Star Arrested, Occupy Student Debt & Judge Caught Beating Wife - The Young Turks 9/18/2014 Social Commentary
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