Tuesday, February 28, 2012

Students Across the Country Call on Sallie Mae Stop Predatory Practices

Students Across the Country Call on Sallie Mae Stop Predatory Practices
Around the country, over 50 campuses coordinate week of action
against corporate student lending giant Sallie Mae

WASHINGTON, DC This week, students from the United States Student Association and Student Labor
Action Project from coast-to-coast are engaging in a coordinated week of action to shed light on the corporate
student lending giant Sallie Mae. Students this week are making their demands loud and clear that Sallie Mae
must stop their predatory lending practices.
Among the actions this week Sallie Mae CEO, Albert Lord, will receive a letter signed by thousands of students

demanding student debt forgiveness by providing principle reduction and an elimination of interest on loans, a
call for Sallie Mae to pay their fair share to repair the economy by paying the total corporate tax rate, and
disclosing political action committee money in elections to date and pledge to keep all corporate money out of
the 2012 and future elections. The students finish the letter by asking for a meeting on March 26th to discuss
their concerns.
Chris Hicks, Student Labor Action Project Coordinator.
The week of action also includes the screening of 􀂳Default: the Student Loan Documentary􀂴 which chronicles
the stories of borrowers from different backgrounds affected by the private student lending industry and their
struggles to change the system. Borrowers of private student loans, which are a risky and expensive way to pay
for college, do not enjoy the privileges federal student loans and are nearly impossible to discharge.
Over the past months building up to the week of action, students have take action from candlelight vigil in the
Sallie Mae DC office to moving their money away from corporate banks that are known for their profiteering
off of student loans. SLAP and USSA have been leaders in calling for students to do business based off of their
values and to vote with their pocketbook, turning away from bad community partners. This weeks actions also
include walkouts, a petition to Sallie Mae calling for debt forgiveness, and visits to federal politicians calling
for more protections to be given to students.
􀂳While the government turns away from these college students and recent graduates, private lenders have rigged
the student loans 􀁌􀁑􀁗􀁒􀀃􀁄􀀃􀁅􀁌􀁏􀁏􀁌􀁒􀁑􀀃􀁇􀁒􀁏􀁏􀁄􀁕􀀃􀁌􀁑􀁇􀁘􀁖􀁗􀁕􀁜􀀏􀂴􀀃􀁖􀁄􀁌􀁇􀀃􀀹􀁌􀁆􀁗􀁒􀁕􀀃􀀶􀁄􀁑􀁆􀁋􀁈􀁝􀀏􀀃􀀳􀁕􀁈􀁖􀁌􀁇􀁈􀁑􀁗􀀃􀁒􀁉􀀃􀀸􀀶􀀶􀀤􀀏􀀃􀂳􀀱􀁒􀁚􀀃􀁚􀁈􀂶􀁕􀁈􀀃
demanding they pay their fair share to rebuilding the economy to make it one that works for all of us.􀂴
􀀷􀁋􀁈􀀃􀀸􀁑􀁌􀁗􀁈􀁇􀀃􀀶􀁗􀁄􀁗􀁈􀁖􀀃􀀶􀁗􀁘􀁇􀁈􀁑􀁗􀀃􀀤􀁖􀁖􀁒􀁆􀁌􀁄􀁗􀁌􀁒􀁑􀀏􀀃􀁗􀁋􀁈􀀃􀁆􀁒􀁘􀁑􀁗􀁕􀁜􀂶􀁖􀀃􀁒􀁏􀁇􀁈􀁖􀁗􀀃􀁄􀁑􀁇􀀃􀁏􀁄􀁕􀁊􀁈􀁖􀁗􀀃􀁖􀁗􀁘􀁇􀁈􀁑􀁗-led organization. We work to develop current and
future leaders and amplify the student voice at the local, state, and national levels by mobilizing

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