Occupy Student Debt Seems to be a Flop
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UPDATED: Dec 13, 2011
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Last month, the Occupy Student Debt (OSD) campaign launched, and cause enormous vibrations in the media world. Articles and news stories erupted, some expressing support and others in opposition to the radical pledge this group was trying to fulfill.
What exactly was this pledge? To rally the masses of students and graduates who are in debt as a result of student loans, and collectively default on their payments.
According to the OSD, the nation should default on their student loans because, in their opinion, education is a right, not a privilege. Consequently, the government should fund all educational endeavors made by its citizens.
“I signed because not only do I have student debt, but millions of people in this country are struggling under the debt burden caused by just the want to be educated, and I believe, like the campaign, there should be a free educational path for people who would like to go from pre-K all the way to PHD,” said a New York University graduate named Susanne, featured on the front page of the OSD’s website.
The campaign’s threats, however, were not to be made a reality until they received one million signatures on their website. Signatures could come from students, education faculty members, or non-debtors who support the movement.
After nearly a month and a high amount of publicity, the OSD has received 2,472 student signatures, 451 faculty signatures, and 604 non-debtors signatures, for a grand total of 3,527 signatures.
“Defaulting is considered a financial felony that will continue to haunt you. Student loans are not something you can easily walk away from, and defaulting is hardly the same thing as missing a credit-card payment. It really is a black mark,” explained Carl Van Horn, a Rutgers University professor, to CBS News.
With the OSD lacking for over 996,000 signatures, it appears the nation recognizes how awful that black mark really can be. The radical ideas of such a campaign may have proven to be too much of a risk—even for those who have stood by the Occupy Wall Street’s campaign since its start in Zuccotti Park.