Posted 10 years ago on April 24, 2012, 9:45 a.m. EST by OccupyWallSt
Tomorrow, April 25th, the total amount of student loan debt in the U.S. will top 1 trillion dollars. This marks a momentous victory for Wall Street—much to the despair of student loan debtors across the country. On this date, the profiteers on Wall Street will be popping champagne bottles, eating caviar, and sneering at the debt-burdened students and graduates who lug around this 1 trillion dollar ball and chain.
Occupy Student Debt Campaign is hosting a party of its own. Throughout the country we will be taking direct action to raise awareness about this crisis as part of a new movement to make education a right.
If you are in NYC join us at 4PM in Union Square, where Reverend Billy and the Stop Shopping Choir will preside over a debt jubilee - an emancipatory student loan debt write-off for all! Join the Plus Brigades, Billionaires for Debt, and more OWS perfomers to mark this historic day. Dress as the banker of your choice or as a convict from Debtor's Prison, if you'd like. Then, let's march to Wall Street banks and watering holes to spread the news about student debt and drink up the joys of our new-found freedom.
Not in NYC? Solidarity actions will be taking place in over 20 cities. Find a 1T Day solidarity action near you.
More from 1TDay.org:
The student loan industry has profited from borrower vulnerability through predatory lending practices such as compounding interest rates, high collection fees, and few consumer protections. Inflating tuition costs have been financed through student debt that will soon exceed 1 trillion dollars. The morality of perpetuating this unjust system by continuing to pay these predatory loans is questionable. In times of fuller employment, the student loan debt system has yielded no end of private suffering and humiliation for at least two generations of debtors. In a time of chronic underemployment–and the worst may be yet to come–the burden is beyond tolerance. Immediate forgiveness in the spirit of a jubilee, where the injustice of an unpayable debt is redeemed through a single, corrective act, is the only just response to this crisis.