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Christopher Walton

Chris is a graduate of Le Moyne College, Syracuse, New York where he earned a B.A. in Political Science and a minor in Secondary Education. He also holds a Masters of Arts Degree from Fordham University, Bronx, New York in American History and a Masters of Arts Degree from Fordham University, Bronx,... read more

The Biggest Scandal: Our Children’s College Debt

Christopher Walton on 11/24/2014

college_debtPic_3$1 Trillion dollars! That is the current total national debt that your children owe the nation’s private banks. The college debt loan rate is currently set to jump from 3.4% to 6.8% this July if Congress doesn’t act quickly. Are you sick of Senator Mitch McConnell demanding that the Republican/Tea Party doesn’t offer ANY bi-partisan teamwork with President Obama during his second term? Are you tired of the Republican/Tea Party drumming up stories, distorting truth and fabricating lies about Benghazi and the IRS? Upset with them not doing the work of the People and wasting millions of your tax funds? Want a real scandal?

Once again, $1 trillion dollars in national debt owed by our college students. This debt tops our nation’s total credit card debt. CollegeDebtPic_1
Those of you who know your American history will remember a time after our nation’s wars that federal grants were issued to returning veterans called GI Bills. These monies, earned by returning men (mostly) were done for two reasons. Firstly, the GI Bills were issued to thank and reward returning veterans for their military service. Second, to ensure a new generation of intelligent college educated citizens and businessmen (and women).

In the past, state and corporate taxes also were collected to establish and build state universities and public schools to insure an educated working class and upper class. California’s public colleges and universities were seen world wide as par excellence for their outstanding publicly funded higher learning institutions.

Enter Ronald Reagan, the Bushes and the Koch brothers. Enter corporate backed Republican/Tea Party that backs cutting federal funds to colleges and universities. At the same time, conservatives cut corporate taxes and have gutted federal, state, and local taxes that fund social programs and public schools. Add King George Bush II partnering with private for-profit universities (listen to his State of the Union Address…) and what do we get? A $1 trillion dollar debt that parents and students are now stuck with.

• http://www.huffingtonpost.com/terry-oneill/student-loan-debt–its-wo_b_3287057.html

• http://www.bostonglobe.com/opinion/letters/2013/05/16/congress-not-doing-enough-ease-crushing-student-loan-debt/iYhw5KMLggZKHeLzL3NuzL/story.html

• http://www.usnews.com/education/blogs/student-loan-ranger/2013/04/10/explore-congress-members-student-loan-debt

• http://www.nytimes.com/2013/04/09/education/student-loan-rate-set-to-rise-despite-lack-of-support.html?_r=0

What are you going to do about this SCANDAL? Please call Senator Warren’s office and your Senator to demand a full reprieve for all of these immorally raised college debts. Too conservative minded for my proposal? Then tell the Senate to support Senator Warren’s proposed, Bank on Students Loan Fairness Act.

The real scandal is allowing this abuse of corporate greed to go unchecked and undeterred. Our children and our national educational systems are our nation’s greatest assets that must be protected!

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