Yet Another Scam - Student Loans & Forcing Default

[Peter Lemkin]

Was just listening to the only person to write a book on this subject. He has learned of many who HAD to leave the US in order to survive due to student loans which can quickly after default jump from a few tens of thousands of dollars to up to half-million, million, or more. Worse it one can not usually get rid of them in bankruptcy and they can attach your salary, posessions, and will/do take from medicial and retirement [social security] benifits, insurance et al......i.e. the banks getting paid is more important than a person's survival. I think debt-prisons [private, of course] are just around the corner - and they will have waterboarding, for sure - looking for hidden assets! Additionally, many parents who co-signed the loans have been ruined and are also loosing their benefits, homes, entitlements, homes [sic]. There are NO laws regulating the interest rates nor penalties allowed on student loans once they default and a lender can default whenever they want - one dollar one day late - or whatever. They can then start to go after all [ALL!] of you assets, even get your professional license taken away....and more. Another proof of free-market capitalism gone mad. :afraid: