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The Debt Collective 🟥 Profile picture
The Debt Collective 🟥
@StrikeDebt
The nation’s first debtors’ union, organizing to build power with debt as leverage. You are not a loan! Press: press@debtcollective.org
Aug 29 • 7 tweets • 2 min read
The Department of Education took down the Income-Driven Repayment (IDR) payment count tracker.

But we came across a hack that allows you to see that information by following these steps.

This works best in either Firefox or Chrome.

Quick thread.🧵 1. Log in to StudentAid.gov (we know, it sucks)

2. Paste this link into your browser: studentaid.gov/app/api/nslds/…

If using Chrome, click on the small box at the top that says "Pretty-print" to make the page easier to read.
Jul 23 • 16 tweets • 3 min read
A lot is happening with federal student debt at the moment. Here is some of our thoughts — and what we think you need to know. Trump and McMahon want to financially harm the nearly 8M people who are in the SAVE forbearance by restarting student debt interest on August 1.

Trump and McMahon are claiming the courts are forcing them to resume interest.

That is not true.
Jan 15 • 4 tweets • 1 min read
If you have federal student debt, you need to log into and screenshot your payment history and loan details TODAY.

The Biden administration *just* created a tracker on the website. We don't know how much longer the tracker will exist. You need proof.studentaid.gov grab this Image
Dec 28, 2024 • 5 tweets • 1 min read
The next four years of the Trump administration will be very, very tough. With the few weeks Biden has left, he needs to do everything he can to mitigate harm. We need an unprecedented level of foresight and protection before Trump's unprecedented level of damage. If Trump uses the Comstock Act to ban abortion nationwide, we should not have to look back and ask why Biden never used his powers to preemptively pardon anyone considered to have "violated" the act's abortion provisions. Or why he didn't enshrine repro rights in the Constitution
Dec 3, 2024 • 7 tweets • 2 min read
This is a good question, and a reasonable response if you're actually following along. To get what we're saying, you should understand how Biden's first attempt at relief actually went down.

Biden *announced* relief but never actually canceled any debt. A shorter thread: Biden made an announcement that he would cancel $10k-$20k for all.

A week went by. 2 weeks went by. Then a month.

FIFTY DAYS passed. And *then* an application to apply for relief came out. People started applying—even getting approved. And then lawsuits came.
Dec 3, 2024 • 9 tweets • 2 min read
We often tweet "cancels student debt" and then someone replies with "the Supreme Court stopped Biden, he can't do that!"

A few reasons why that's not true. First, you need to understand what the court said to understand why this response doesn't hold water: The Supreme Court ruled Biden could not cancel student debt *using* the HEROES authority *at* that time because they said COVID was no longer.

(Probably didn't help that Biden was also going around saying COVID is over while arguing in court that there's an ongoing emergency)
Oct 1, 2024 • 5 tweets • 1 min read
Today, 40M student debtors fall back into the throes of the student debt crisis. Student debt payments resumed in October 2023—but borrowers had a 1yr grace period: no hits to credit, wage garnishment or default. Half of debtors didn't pay.

Those protections ended yesterday. The pause has ended + broad scale relief never happened.

In many ways, we are back to the crisis we had in 2019—the crisis every Dem presidential candidate raced to promise to solve.

Except today is worse than 2019: There is no repayment plan option because of court litigation.
May 20, 2024 • 4 tweets • 1 min read
We're the nation's first union of debtors, organizing to cancel unjust household debts like student, medical, housing and criminal legal.

We believe debt cancellation is crucial for resetting the moral and economic order—plus, that means workers taking home a bigger paycheck. Canceling debt is important—and we've been able to get debt canceled both through pressuring local and federal governments and by erasing debt for pennies on the dollar ourselves.

But the true goal is free, reparative public goods so nobody goes into debt in the first place.
Apr 30, 2024 • 6 tweets • 2 min read
People are wondering if they should consolidate their student loans before the April 30 deadline. The answer is yes!!!

Do so here ASAP. It takes 10 min:

Here is a thread with answers to common questions we are seeing 🧵studentaid.gov/loan-consolida… Will consolidating restart my loans to zero?

No! This used to be the case, but it no longer is. Never fear. If I consolidate, will that reset my payment count for IDR and PSLF? Not right now. If you apply for consolidation by April 30, 2024, the adjustment will count periods of repayment on your loans prior to the consolidation toward IDR forgiveness and (for eligible borrowers) PSLF. This differs from the earlier approach, in which consolidating your Direct Loans would reset your payment count to zero. After the adjustment has been applied to all borrower accounts in 2024, accounts will be treated in accordance with the regulations in place at that time. If you recently consolidated your loans...
Apr 24, 2024 • 16 tweets • 3 min read
This morning the Dept of Education is in court for failing to cancel student debt and issue refunds in compliance with a settlement & court order 🧵 The first question the judge asked was "which one of you is Cordray"

Lawyers for student loan servicers are also there
Feb 26, 2024 • 5 tweets • 1 min read
🚨🚨🚨Instead of cancelling student debt Congress is about to pass a bailout for fraudulent for-profit scam schools with overwhelming bipartisan support

Educate yourself about H.R.6585 the so-called Bipartisan Workforce Pell Act, then educate your Representatives 🧵 This bill is a direct assault on Pell Grants, swindling public money had handing it over to scam "coding bootcamps"
highereddive.com/news/governmen…
Aug 31, 2023 • 5 tweets • 1 min read
People's balances are incorrect but Biden is still turning student debt payments back on.

Loan servicers don't answer the phone but student debt payments are still turning back on.

People are waiting to hear back from their PSLF application but payments are turning back on. Millions of people went to schools that defrauded them but student debt payments are turning back on.

The SAVE plan is incorrectly forcing people to pay 2X, 3X and 10X more than they should and payments are turning back on.
Aug 28, 2023 • 7 tweets • 3 min read
There has never been an organized effort to apply or ask the Department of Education to use its legal authority to cancel your student debt—until now.

Today, we're rolling our NEW Student Debt Release Tool:

FILL OUT HERE: bit.ly/StudentDebtRel…
Welcome to the Student Debt Release Tool! The Dept. of Education has the power to cancel your federal student loans immediately through the HEA.

This first-of-its-kind petition generates an individual appeal to the Department of Education requesting that they exercise that power for you—now.

>> debtcollective.org/what-we-do/cam…
Image
Jul 23, 2023 • 7 tweets • 2 min read
Update: The NYT wrote a sob story for @RepMGP because she can’t handle criticism for voting to resume costly student debt payments on her own constituents. https://t.co/h0pEqeemGp
NYT Headline that reads “For One Democrat, the Price of Bucking Her Party Is a Flood of Bad Reviews” and a subheader that reads “Representative Marie Gluesenkamp Pérez’s automobile repair business has become a target of online trolls on the left after she opposed President Biden’s student loan cancellation initiative.” “Worst car care Ive been to,” one Yelp reviewer wrote shortly after Ms. Gluesenkamp Pérez cast that vote. “My car was dirtier than when I dropped it off.”

“It also didnt help that Marie was bragging about her PPP loan and in the same sentence said f students. Shes hypocritical.”
Jun 30, 2023 • 4 tweets • 1 min read
This is, in fact, wrong. Biden is not doing everything possible. To be honest, this action is perfectly designed to be the worst case scenario. He is resuming interest and payments voluntarily. And as for relief? This "rulemaking" process will take—at a minimum—several months. This "rule" might not be implemented until NEXT year. And even *then* it could be caught up in courts.

We want Biden to fight—but this isn't what it looks like.

He can cancel this debt AUTOMATICALLY. NOW.

TODAY. But instead, he's delaying delaying delaying.
Jun 29, 2023 • 5 tweets • 1 min read
Today’s racist affirmative action decision by the Supreme Court is another nail in the coffin of this institution’s legitimacy. There is no such thing as a “race-neutral” admissions process. Plain and simple. This decision leaves admission preferences for legacies and donors in tact—policies that overwhelmingly favor wealthy white applicants. It also leaves young Black people to continue to affirmatively die in military service for this country.
Jun 29, 2023 • 13 tweets • 2 min read
Race x Education x United States. A long-ish thread. It's telling that we're waiting on two specific SCOTUS decisions regarding race and education: student debt relief and affirmative action.

There's a very clear historical trend in this nation: Denying education to Black Americans for the sake of establishing a racial hierarchy.
Jun 28, 2023 • 6 tweets • 4 min read
A Supreme Court decision on student debt relief will come in a few days. If the Supreme Court rules against relief, here's a reminder of why:

Myra Brown & Alexander Taylor—who aren't actually harmed by this policy—served as political pawns for conservative dark-money groups.

Republican Attorney Generals from Missouri and Nebraska—Eric Schmitt and Mike Hilgers—argued before the Supreme Court that student loan servicers' bottom lines matter more than debt relief for millions of Americans who financially struggled through COVID.

They are enemies.

Jun 4, 2023 • 15 tweets • 3 min read
"What life changes will you have to make if student loan payments resume?"

We posed this question on our Instagram last night and got several hundred responses:

1. Delay starting a family
2. Can't afford my cancer treatments
3. Quit my pain management for rheumatoid arthritis 4. Wait longer for a home/age out of having a child
5. Stop saving for retirement. I'm 55.
6. I'll have to work more hours.
7. I don't know how I'm going to pay them when my rent continues to rise.
8. I'll have to stop eating
9. Won't be able to buy a house
10. Less baby money
Jun 2, 2023 • 4 tweets • 2 min read
“The student debt relief program is not ‘protected’ — it is in front of the Supreme Court, which will likely strike it down on illegitimate and hyper-partisan grounds,” Astra Taylor, a leader of the nationwide Debt Collective, told me.
inquirer.com/opinion/debt-d… “This is President Biden turning his back on student debtors,” says Braxton Brewington, press secretary of the Debt Collective.
democracynow.org/2023/6/1/stude…
May 25, 2023 • 5 tweets • 3 min read
Today, two Democrats voted with Republicans to say that not only should student debt relief be repealed, not only should the pause on payments end, but that you should make *retroactive* payments from previous months.

Introducing Jared Golden and Marie Gluesenkamp PĂŠrez: ImageImage Jared Golden represents Maine-02. We know there are at least 100,975 student debtors in his district that he voted against today.

Marie Gluesenkamp PĂŠrez represents Washington-03. There are at least 93,749 student debtors in her district that she voted against today.

Shame.