Default: the Student Loan Documentary
July 29th, 2010 | 
Author: Default: The Student Loan Documentary is a feature-length documentary chronicling the stories of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system. In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin. www.defaultmovie.com A film by Serge Bakalian and Aurora Meneghello
Posted in debt consolidation financing | 
Tags: Aurora Meneghello, college debt, Krotala Films, sallie mae, Serge Bakalian, student debt, student loans
25 Responses to “Default: the Student Loan Documentary”
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@antiagingdr You’re being incredibly myopic about how things have changed. While student attitudes may have seen a shift, the biggest and most clear change has been the shear cost of education. We have seen such exorbitant increases in the cost of private education that loans are often the only way to finance a degree. If the current trend continues, a private four year education will cost over 1 million dollars by 2050.
College is so expensive because people get their loans gauranteed by the government or bank so the college can jack prices up to where ever they want them. As long as sombody will be there to say “I’ll foot the bill” the more expensive things will keep getting. Health insurance works the same way. As long as people expound the importance of a third party payer system, any third aprty payer system, the price of everything will go up. Only buy things when you’ve saved up enough money.
I’m still paying off my student loan almost 10 years later.
lilys list .com helps students pay down their loans.
i owe 22 grand. fuck’em there not getting shit. mostly cause i dont have anything they can take.
The gov. is extremely corrupt. Fuck them and the corporate rich.
@empyblessing
I might say the same thing, but they had my Dad co-sign. If they don’t get the money from me, they’ll hang him upside down for it.
Money is debt! Without debt we have no money! I wonder if there was ever a country that provided free high education? uh? USSR! They got education right!
Gimmie gimmie gimmie! I want a 100K poetry appreciation degree and I don’t care that no one in their right mind would willingly bet that much of their own money for me to have it! If you don’t give me money you are violating my rights!
@RedFlower26 I owe them about 10k. No body co-sign for me, i do own a car that worth 3-4k. If i don’t pay can they take that car and will my credit score go bad?
@ferrari4sale
They can take whatever is of value in order to oay off the loan, and your credit score will be so bad that you won’t be able to get money for a house or car, an apartment, or credit cards.
Keep track of your records!
i took a student loan out a few years ago for 12k, i had a hard time paying it back at first so the gov started taking $125 a week from my paycheck and that went on for over 3 years so they took more then 18k from me and that not including the 5k i had already paid on it, the problem is the gov keeps reselling my loan over and over and apparently the paperwork keeps mysteriously disappearing that i ever paid a single penny on it, at this point i still owe 18k on it
@yavin99 Revolutionary war?
@FaithfulAndTrue1 im a veteran but if thats what it comes to ill be ready
@abmmwl That has nothing to do with capitalism. That has to do with the Federal Reserve which is anything but capitalistic.
@yavin99 Surely people aren’t pissed off enough….maybe we will by 2017
@empyblessing They will garnish your wages bro…
Choose the right career!! I have so many friends graduated with B.A. in Art, Music and Business that can’t find a job. I’m glad that i’m major in CLS. Grad school is perfusion. Hopefully i’ll be able to pay everything off.
SallieMae is a rip off organization. If you don’t make enough to pay huge monthly payments, they will garnish your wages and sell your loans over and over where that is impossible to ever pay your loans off. The United States government allows them to do so. It’s all about the money. France pays for her citizens to gain higher educations, but not the U.S. The only people who get free tax paid education and healthcare in the U.S. are criminals in prison.
Any Ivy League and Professors in their department teaches Humanities which ranges useless major. About 70% at any school are in humanities. People should google it. The reason we all know that Engineers, Docs etc make good money. Not that one does not wanna study it. but the brain is not capable of doing so. It s tough.
College is an entry level to get the foot in the door. Most jobs post 99% experience in their ad first and one line education, which one teches for half their life inc High schoo
@overthehillsfaraway9 yup im one of those people who almost took out 25k in loans (for the fall 2010) but then realized it made no sense so now I am considering a community college then transfering
@prettyproblem16 Good call. I am not exaggerating when I say I learned nearly as much at my CC as I did at my university. I went to a fairly well respected school, earned good grades, and learned next to nothing. I can’t imagine going tens of thousands of dollars into debt, to learn practically nothing, and then going out into one of the most difficult job markets since the great depression.
@waverly2468 lmao @ college is like one of those jigsaw traps in saw 4
-_- I borrowed 10,000 bucks, interest is going to bump it up to 34 thousand, (Lol i dk)
and this is just for community college
FUCK
There is so much money in the US tied into the hands of the few. Coorprate and Gov. greed. This could be a great country but education is too expensive when you make minimum wage as a young person. If you go to school you owe forever.