The Trillion Dollar Scam

Lenders such as Sallie Mae and Nelnet showered Congressional leaders with hundreds of thousands of dollars in contributions. The result was a virtually unregulated industry exploiting a federal program to enrich itself at the expense of students and the taxpayers alike. Lenders ballooned loan debt by compounding improper interest loan rates to the point of no hope to recover, short of death. They routinely violated a federal law forbidding lenders from providing, illegal inducements to colleges and financial aid administrators, loan companies push greed to exploit high levels of expensive private loan debt on low-income families and working class students who had little hope of paying it back. The lenders didn't care about the borrower, all they cared about was their end of the month numbers, and their ability to scheme the government at the expense of students and taxpayers. The student loan industry is a virtually unregulated fraudulent and deceptive scheme that is costing multitude of student and families hardship and disparity. Sallie Mae claims it must abide, under U.S. Bankruptcy Code 11U.S.C. 523 (a) (8). The only remaining basis for discharge is a ruling favorable to the debtor from an adversary proceeding, brought by the debtor, for undue hardship. I ask you, isn't the testimony from thousands of victims that have been exploited by the student loan industry and a bias and discriminatory system, fortified by the testimony of the loan industry whistle-blowers, justifiable cause of undue hardships favorable to the multitude of victims? What authority, Congressional or higher can testify on the validity of why student loans should specifically be exempt from bankruptcy protection?. Where is the transparently of the difficulties and hardships, where are the Congressional Hearings on the student loan industry, where are the Whistle-Blowers?
Student loan victims make your voice heard. Contact your representatives. Petition investigating Sallie Mae for discrimination, fraudulent, and deceptive practices in the underwriting, origination process and collections of private student loans and routinely exploiting of a federal program to enrich itself at the expense of students and the taxpayers alike. Let our voices echo through the halls of congress that justice may triumph over callous greed and corruption, vindicating the promise of the most open and accessible administration in American History.