Student loan debt in these states exceeds the state budget.

Student loan debt in the United States stands at about $1.8 Trillion. Analysis of the most recent Department of Education data, private student loan estimates, and also the most recent state budget data (2017) compiled by the National Association of State Budget Officers reveals that in 18 states, the citizens owe more in student loan debt than the entire state budget (both federal and state spending).

As a percentage, the states of Georgia (169%), Florida (148%), Missouri (141%), South Carolina (135%), New Hampshire (131%), and North Carolina (126%) are particularly alarming, but the fact that the citizens of any state


Durbin, Cornyn Introduce Critical Bankruptcy Legislation for Student Loans: S. 2598

August 5, 2021

We strongly applaud Senator’s Dick Durbin (IL) and John Cornyn (TX) for introducing S. 2598: The Fresh Start Through Bankruptcy Act of 2021. Returning bankruptcy protections to federal student loans is the first step that must be taken to address this national crisis. Holding educational institutions nominally accountable for outcomes is also needed.

The Founders called for uniform bankruptcy laws ahead of the power to raise an army, declare war, and create a judiciary in Article I, Section 8 of the US Constitution. …


This message was submitted to the White House on June 8th, 2021:

Mr. President,

Before the election, you said you would “eliminate” federal student loans for people who went to public colleges and earned less than $125,000 per year, and that you were endorsing a bankruptcy plan that included both returning bankruptcy rights to all student loans, and an executive order- on Day One- directing the Department of Education to stop opposing borrowers in bankruptcy court.

Day One and your first 100 days passed with no action. You have broken your pledge, and have gone out of your way to…


April 27th, 2021

A petition calling on the President to cancel student loans by executive order has reached 1 million signatures. Started in March of 2020, the petition created a groundswell of populist support that had already amassed 500,000 signatures by September, when Senators Elizabeth Warren (D-MA) and Charles Schumer (D-NY) introduced Senate legislation calling for the same.

“We are thrilled that leading lawmakers have embraced the concept of cancelling federally owned student loans by executive order”, said StudentLoanJustice.Org founder Alan Collinge. “However, the current proposal is wholly inadequate. The federal lending system is catastrophically failed, and must be ended…


Revised 2/26 **

Student loan debt in the United States stands at about $1.8 Trillion. Analysis of the most recent Department of Education data, and also the most recent state budget data (2017) compiled by the National Association of State Budget Officers (and assuming a uniform distribution of private student debt across the population) reveals that in 19 states of the country, the citizens of those states owe more in student loan debt than the entire budgets of those states (both federal and state spending).

Interestingly, it was found that the majority of those states (13 of 19) voted for Donald Trump in…


Before the election, Joe Biden and the media had tens of millions of distressed student loan borrowers believing that he was going to eliminate their student loan debt- perhaps by executive order- on day one.

Since winning the presidency, however, he (and the corporate press covering him) are singing a very different tune. Gone are the claims in the press that Biden will cancel all undergraduate debt for people who attended public universities or Historically Black Colleges and Universities (HBCU’s). Biden is also going out of his way to kill expectations of him cancelling loans by executive order, as leading…


They’ve been tricked into defending the worst big-government lending scam in U.S. History.

Over a third of US States have student loan debt that exceeds their budgets. Most are historicaly Red States.

While many conservatives point to election fraud to explain why republicans lost both the Presidency and the Senate in the recent election, there is one issue that would have turned these close losses into landslide victories for them, even despite alleged vote tampering at the margins: Student Loans.

Student loan debt in more than a third of U.S. States now exceeds their entire state budgets. The majority of these states are “red states”, and 87% of this debt is owed directly to the federal government. According to…


Original Press Release

During the presidential primary campaign, Joe Biden said that he was endorsing Senator Elizabeth Warren’s bankruptcy plan, and his campaign dutifully copied and pasted key bullet points from her bankruptcy platform into theirs. The most important element of Senator Warren’s bankruptcy agenda, however, was her pledge to issue an executive order on Day One calling on the Department of Education to stop opposing federal student loan borrowers in bankruptcy court. Given this, it is fair to say that Mr. Biden has an obligation to issue this order on Day One as President.

As the nation’s oldest and…


Trump’s last official act in office should be cancelling all federally owned student loans by executive order

As many feared- and some probably hoped- it appears that Trump’s tenure as President its not going to end well. Trump will be leaving office in a storm of violent controversy not seen before in our nation’s history, and in his wake will be a looming economic catastrophy brought on by the pandemic. At the forefront of this new reality is the student loan problem.

There are 44 million federal student loan borrowers in the country carrying about $1.5 Trillion in federal student…


A common popular belief about student loans is that they are a young person’s problem. It is generally assumed that most borrowers are able to have their loans repaid by their mid-30’s, or perhaps their early 40’s at the latest. People 50 or older who haven’t yet repaid their loans, conventional wisdom holds, are the outliers. This, however, is completely wrong.

Source: U.S. Department of Education (Q4 2020)

This study relied only upon Department of Education Data for the fourth quarter of 2020. For the purposes of comparison, source data (rows 1, 2, 3, 4 and 8) was used to calculate the 5th, 6th, and 7th rows…

Alan Collinge

I am Founder of StudentLoanJustice.Org, author of The Student Loan Scam (Beacon Press), and creator of the petition Change.Org/CancelStudentLoans

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