Politico reports that student loan debt now exceeds one trillion dollars, an amount that should impress even Dr. Evil. Politico further reports that this is one of the more concrete issues driving the OWS protests and provides some enlightening examples of their particular gripes.Really?!?! Wall Street is to blame for your student loan problems? Didn't your university warn you, as they are supposed to, that you better not take out a lot of student loans as they are risky? (And if you are sooo intelligent that you deserve a fancy college degree, do you really need to be warned of the obvious??)
To me, this seems like a "concrete example" of people trying to blame someone else for their own problems.
And sure, Wall Street has played their part in the current recession and in that sense maybe they have played a role in hurting the job market. But if you take out a massive amount of student loans, and don't have a plan B in case you don't get your preferred job, then you should perhaps be protesting yourself.
And don't accuse me of being the rich guy pointing the finger at those I can't empathize with. I am supporting a wife and two children off of a graduate student salary and the thought has never occurred to me to blame Wall Street for any student loan problems I may or may not have!!!
And if their goal is to "receive a student loan bailout", why protest Wall Street? Wall Street is never going to pay the student loans of angry protesters. Only the federal government has a chance of excusing student loan problems and so I am a little confused why, given they apparently payed soooo much to educate themselves, they can't seem to figure out who in reality is the right group to be petitioning/protesting.
I'm pretty sure these people need to:
- Realize the responsibility of taking out too much debt, without a plan B when your preferred job falls through, lies first and foremost on you. (Don't forget... you were warned going into these loans!)
- Use some of the education they apparently payed so much for to realize that only the federal government can deal with student loan relief, Wall Street will never care, and therefore they should pick up their signs and march down to Washington if the only solution they are intelligent enough to come up with is to demand someone else will bail them out of the risk they knowingly took on themselves.
Seriously! (Now back to research.)