The $1 Trillion Student Loan Rip-Off: How an Entire Generation Was Tricked into Taking on Crushing Debt That Just Enriches Banks | | AlterNet

The $1 Trillion Student Loan Rip-Off: How an Entire Generation Was Tricked into Taking on Crushing Debt That Just Enriches Banks AlterNet

Truthfully what is driving this movement. From the article:

It’s a huge mess.
Some people have noticed that “student loan
debt” comes up a lot among the Wall Street Occupiers and the members of the 99
percent movement. Often, older people, who either attended school when tuition
was reasonable, or who didn’t attend college at all in an era when a high school
diploma was enough of a qualification for a stable, middle-class career, tend to
think this is all the entitled whining of spoiled kids. They don’t understand
that these kids accepted a home mortgage worth of debt before they ever even had
a regular income, based on phony promises, and that the debt is inescapable,
regardless of life circumstances or ability to pay...

''' The impossibility of escaping student loan
debt is why
an industry sprang upto foist useless, overpriced degrees on vulnerable
people. It’s a scam, but a profitable one, and respectable enough for major
establishment players to feel comfortable making a killing on it.
Like, for instance, Kaplan University, a
chain of for-profit colleges built onwinning free government student aid
money and attracting suckers to borrow small fortunes.
The crooks are shameless. The Fiscal Times
asked a
bunch of predictable brain-dead airport bookstore luminaries (Dr. Oz! Mort
Zuckerman!) to share one idea to “solve our fiscal crisis.”

This was once called indentured servitude and a political class, that doesn't bother service its members, doesn't feel responsible. They basically serve nobody.