Debt Collective 🟥

Debt Collective 🟥

@debtcollective.bsky.social

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The nation’s first debtors’ union, organizing to build power with debt as leverage. You are not a loan! Press: [email protected]

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Debt is extractive. The average American dies $62,000 in arrears—for housing, student loans, credit cards, health care and for incarceration. Debt says that we have more to pay back tomorrow than we have today. That's a backwards way of running an economy for working people.

Last week, we had a press conference at the U.S. Capitol and called for the Biden administration’s Dept of Education to terminate contracts with MOHELA—the failed and greedy student loan servicer.

The most important part of student debt relief is ensuring people get it. Nobody will get relief if the Biden admin slow walks relief and right wing litigants stop him in time.

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new! we articulate how the student debt crisis drives, and is driven by, socioecological crises - e.g., climate change - with the aim of expanding the parameters of student debt activism. 👊 as always, we are inspired by @debtcollective.bsky.social 🖤 journals.sagepub.com/doi/10.1177/...

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Kudos to Rep Adriano Espaillat for calling on Ed Dept to respond to the 30,000 appeals. If you haven’t already here’s a link to @debtcollective.bsky.social easy to use tool to request full cancelation vis-a-vi Higher Education of 1965. bit.ly/StudentDebtR... #Cancelstudentdebt#Allofit

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Wait. You’re telling me an antidemocratic, extreme Right Wing movement funded by a group of billionaires who have tirelessly undermined experts and public education are actively attacking professors and institutions? The hell you say. I wonder if that’s ever happened before.

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I’ve loved @debtcollective.bsky.social’s work for over a decade — let me take this opportunity to plug it again. 👍

Congrats! By the way, if you do know anyone who is willing to "ASK" for relief, there is a great tool from @debtcollective.bsky.social that generates a letter to request relief under existing statutory authority. It takes less than 5 minutes. :)

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this new (open access) article aims to provide research pathways that complement the ongoing activism, from folks like @debtcollective.bsky.social, to abolish student debt 👊 student debt is killing higher ed, harming us, our students, and their families. enough! acme-journal.org/index.php/ac...

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So this happened today, ppl! Tysm to President Joe Biden's admin TYSM @debtcollective.bsky.social

NEW: In 2000, Clarence Thomas was deep in debt. He met w/ a GOP Congressman & complained about his salary. The GOP started to fear he’d leave the court. In the years that followed, billionaires lavished him w/ secret gifts. This is the same SCOTUS Justice that ruled student debt relief was unfair.

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If you have federal student debt, file an application directly with the Department of Education requesting relief. It takes about 10 minutes and is completely free. Tens of thousands of people have filed an appeal with our new tool. You should too. >> studentdebtreleasetool.org

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New data: 40% of federal student loan borrowers refused to make their student debt payment in October. Instead they chose to pay rent, eat, see a doctor, buy gas - to live.

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Last month @debtcollective.bsky.social eliminated $10M in debt held by almost 3000 former Morehouse students. Tonight at 7pm, students in my “Debt and Democracy” class discuss where we go from here. Morehouse (and other HBCU) alumni, students, faculty, staff: join us.

The fastest growing demographic of student debtors are people over the age of 62. We’re not growing out of debt—we’re growing into it. Our balances aren’t decreasing—they’re increasing. We need full student debt relief—and free college so nobody goes into debt in the first place.

Hmm. Might be time to issue full student debt cancelation.

If we can fund war, we can fund free healthcare.

Oh look. A friend’s $267,230 loan to Justice Clarence Thomas for an RV was mostly, perhaps entirely, forgiven, raising ethical and potential tax issues. Reminder: Thomas killed student debt relief while billionaires were forgiving Thomas's debts. Just pure evil. t.co/dkcl7bEWOd

Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Findst.co The justice failed to repay much, perhaps all, of the $267,230 loan. His benefactor wiped the slate clean, with ethical and potential tax consequences.

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Morehouse College transferred every penny of debt they held in collections to the Debt Collective, amounting to $10M for 2800 students. Instead of collecting on it, we canceled it all completely. This is a no strings attached gift. www.businessinsider.com/student-loan...

Activists erased $10 million in student debt for nearly 3,000 HBCU students — and said Biden can d...www.businessinsider.com "We're doing our part, and it's time Biden does his," the Debt Collective said as it erased debt Morehouse College students owed to the school.

This week, we're canceling $10M of Morehouse College student debt—and glad we can help. But the truth is, we cannot cancel everyone's debt. It's unsustainable and not a real solution to the deep crisis of racial, finance-capitalism and costly public goods. We have to organize.

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Bittersweet way to reconnect w/ my former student. Interviewed here alongside Jarel Billups, who got $15,000 in relief. Again, so grateful to @debtcollective.bsky.social for working w/ us to make this happen. Yet all this damn debt, all the public outcry -- where is the federal strategy, urgency??

Nearly 3,000 former Morehouse students get their debt wiped away | Here's howwww.11alive.com Nearly 3,000 Morehouse men have their debts with the college wiped clean. That's nearly $10 million they no longer have to worry about.

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Gotta say, it feels good to be part of something positive after days of tragic and enraging news. We need to build power to win structural change, and hopefully this helps us do that. But we also need to take care of each other when we can. To look out for people we don't know.

NEWS: Morehouse College—an HBCU in Georgia—took every dime of debt they had in collections and transferred it to us. Today, we're announced that we've canceled all of it. Now, nearly 3,000 people—mostly Black men—can access transcripts and move on with their lives. www.reckon.news/news/2023/10...

Morehouse students get $10M of student debt wiped out, thanks to the Debt Collectivewww.reckon.news Today, the Debt Collective, the nation’s first debtor’s union, canceled close to $10 million in student debt for Morehouse College students, a private men’s HBCU in Atlanta.

NEWS: Morehouse College—an HBCU in Georgia—took every dime of debt they had in collections and transferred it to us. Today, we're announced that we've canceled all of it. Now, nearly 3,000 people—mostly Black men—can access transcripts and move on with their lives. www.reckon.news/news/2023/10...

Morehouse students get $10M of student debt wiped out, thanks to the Debt Collectivewww.reckon.news Today, the Debt Collective, the nation’s first debtor’s union, canceled close to $10 million in student debt for Morehouse College students, a private men’s HBCU in Atlanta.

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Debt relief at Morehouse! Enormous thanks to @astra.bsky.social and @debtcollective.bsky.social. Let’s build on this. Keep teaching and learning about this crushing debt financing paradigm. Keep growing the movement for debt abolition. HBCU students, faculty, alumni – let’s keep organizing! 1/

This collaboration has been a long time in the making. A bit of good news for dark days. Debt Collective has partnered with Morehouse College to extinguish nearly $10 million of debt that has been hanging over around 3,000 current and former students. www.usatoday.com/story/news/e...

These former HBCU students owed their college nearly $10 million. The debt was just erasedwww.usatoday.com The Debt Collective cleared nearly $10 million in outstanding debt owed to the historically Black men's liberal arts college.

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Debt Collective 🟥

This collaboration has been a long time in the making. A bit of good news for dark days. Debt Collective has partnered with Morehouse College to extinguish nearly $10 million of debt that has been hanging over around 3,000 current and former students. www.usatoday.com/story/news/e...

These former HBCU students owed their college nearly $10 million. The debt was just erasedwww.usatoday.com The Debt Collective cleared nearly $10 million in outstanding debt owed to the historically Black men's liberal arts college.

Jane doesn’t just do labor unions—her teachings have been inspiration for our union of debtors, too. The renowned organizer has a terminal-cancer diagnosis. But she has long been fighting the clock. How Jane McAlevey Transformed the Labor Movement: www.newyorker.com/news/persons...

How Jane McAlevey Transformed the Labor Movementwww.newyorker.com The renowned organizer and theorist has a terminal-cancer diagnosis. But she has long been fighting the clock.

One million people voluntarily signed up for Biden's new SAVE plan. The servicers miscalculated the payment amount for approximately 420,000 of them. Payments never should have been turned back on and it's not too late for Biden to issue a new pause + cancel. www.washingtonpost.com/education/20...

Rollout of Biden’s new student loan repayment plan hits early snagswww.washingtonpost.com Behind-the-scenes calculation errors are resulting in student loan borrowers receiving inaccurate payment amounts.

Cancel medical debt.

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The @debtcollective.bsky.social is here for us.

Stop playing games, Robinette. Just cancel it all daddy.

Biden cancels $9 billion in student debt for 125,000 borrowerswww.cnbc.com President Joe Biden has approved $9 billion in student loan forgiveness for 125,000 Americans.

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Just did this and petition letter submitted - worth a shot!

This week, we launched a new Student Debt Release Tool that just might help your federal student debt get canceled. Here's a deep dive into the tool, which you can use at bit.ly/StudentDebtReleaseTool www.reckon.news/news/2023/08...

What is the Student Debt Release Tool? Can it help cancel student loans?www.reckon.news This week, the Debt Collective launched the Student Debt Release Tool, helping borrowers apply pressure and petition the Biden administration to use authority under the Higher Education Act to cancel ...