Thousands of students were helped tremendously by a group called Strike Debt.
Student debt is something that stresses out millions of students and parents across the country. Often times the only way to finance school, students attach themselves to thousands of dollars worth of debt every year that they will in all likelihood spend the rest of their lives having to pay back. But one group is looking to eliminate that stress, and the debt, all at the same time.
A Wall Street project called “Rolling Jubilee” has eradicated $4 million worth of debt for students at Corinthian Colleges. Corinthian Colleges offer special career training in the fields of health care, business and computer technology. They are often advertised through the commercials on television.
A total of 3,000 students were helped by the project according to the PNC Voice. The students were told to simple “not worry” about the loans anymore.
The project was spearheaded by a group called Strike Debt, which was formed during the Occupy Wall Street movement three years ago. The aim of the group is to help middle and low income students and families when it comes to dealing with debt. Strike Debt bought the loans and then canceled them altogether. The group looks to buy debts and eliminate them to help those that are severely impacted by them.
So far, Strike Debt has eliminated more than $18 million worth of debt for students across the country.
Strike Debt chose to help students from Corinthian Colleges for a few reasons. For one, those colleges are being accused of illegal lending practices. The other reason is because some of these schools have failed to help students after they graduate with jobs as the schools advertised in commercials seen everyday. One of the most famous Corinthian Colleges is Everest College.
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