A debt strike is when a group of people refuses to repay their loans all at the same time. The purpose of a debt strike is to fight back against predatory lending, demand an end to unjust debts, and to build collective power towards a more just society.
Strike Debt is a nationwide movement of debt resisters fighting for economic justice and democratic freedom.
Debt is a tie that binds the 99%. With stagnant wages, systemic unemployment, and public service cuts, we are forced to go into debt for the basic things in life — and thus surrender our futures to the banks. Debt is major source of profit and power for Wall Street that works to keep us isolated, ashamed, and afraid. Using direct action, research, education, and the arts, we are coming together to challenge this illegitimate system while imagining and creating alternatives. We want an economy in which our debts are to our friends, families, and communities — and not to the 1%.
--WikiNiki (talk) 16:59, 8 October 2015 (PDT)
Debt Resistors Operations Manual
JOIN THE RESISTANCE! This operations manual-written by an anonymous collective of resistors, defaulters and allies from Strike Debt and Occupy Wall Street-Is for all those being crushed under the weight of debt. It aims to provide specific tactics for understanding and fighting against the debt system so that we can all reclaim our lives and our communities. It contains practical information, resources and insider tips for individuals dealing with the dilemma of indebtedness in the United States today and also introduces ideas for those who have made the decision to take collective action. --WikiNiki (talk) 12:30, 8 October 2015 (PDT)
The Student Debt Crisis
The Student Debt Crisis has reached an all time high in the United States with millions of graduates from for-profit corporate colleges, public universities as well as community colleges. Student Debt has reached an all time high at $$1,300,000,000,000.00 or $1.3 Trillion and is rapidly climbing.
According to the Institute of College Access & Success [PDF], "More than 650,000 federal student loan borrowers who entered repayment in 2011 defaulted on their loans by 2013, new federal data show. For-profit colleges account for nearly half of these defaults (288,000 or 44%)despite enrolling just 12 percent of students nationally. For-profit colleges also continue to have a much higher average default rate than other types of schools: 19.1 percent, compared to 12.9 percent at public colleges and 7.2 percent at nonprofit colleges. Across all colleges, 13.7 percent of borrowers defaulted within three years of entering repayment, a slight decrease from the rates reported for the previous year, but still higher than just two years ago."--WikiNiki (talk) 16:59, 8 October 2015 (PDT)