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thepeoplesrecord:

Student-loan delinquency skyrocketing, hitting “Danger Zone”January 31, 2013
Most of us are have seen headlines about the burgeoning student-loan crisis. As of August, for instance, student loans had topped $914 billion — an increase of $10 billion in less than half a year, even as most debt was falling around the country. Still, we do not appear to have hit rock-bottom. A new report shows that student-loan delinquency rates have gone through the roof in recent years and that, even more troubling, we may be entering a “danger zone” in which the entire U.S. economy is at risk.
The report from FICO Labs shows that student-loan delinquencies saw a 22-percent increase in the past several years; the overall delinquency rate is now more than 15 percent.
The LA Times has more:

The worsening deliquency rate comes as loan balances surge. The average student-loan debt jumped to $27,253 last year, up 58% from $17,233 in 2005. By contrast, average credit-card and auto-loan balances declined during that period.


“As more people default on their student loans, their credit ratings will drop, making it harder for them to access new credit and help grow the economy,” [FICO Labs head Andrew] Jennings said. “Even people who stay current on their student loans are dealing with very large debts, which reduces the money they have available to spend elsewhere.”

Source
Strike Debt has created a Debt Resistor’s Manual that you can read here.
It’s side project, Rolling Jubilee, has raised $552,682 to abolish $11,058,465 in debt.
Zoom Info
Camera
Canon EOS-1D Mark IV
ISO
400
Aperture
f/16
Exposure
1/200th
Focal Length
17mm

thepeoplesrecord:

Student-loan delinquency skyrocketing, hitting “Danger Zone”
January 31, 2013

Most of us are have seen headlines about the burgeoning student-loan crisis. As of August, for instance, student loans had topped $914 billion — an increase of $10 billion in less than half a year, even as most debt was falling around the country. Still, we do not appear to have hit rock-bottom. A new report shows that student-loan delinquency rates have gone through the roof in recent years and that, even more troubling, we may be entering a “danger zone” in which the entire U.S. economy is at risk.

The report from FICO Labs shows that student-loan delinquencies saw a 22-percent increase in the past several years; the overall delinquency rate is now more than 15 percent.

The LA Times has more:

The worsening deliquency rate comes as loan balances surge. The average student-loan debt jumped to $27,253 last year, up 58% from $17,233 in 2005. By contrast, average credit-card and auto-loan balances declined during that period.

“As more people default on their student loans, their credit ratings will drop, making it harder for them to access new credit and help grow the economy,” [FICO Labs head Andrew] Jennings said. “Even people who stay current on their student loans are dealing with very large debts, which reduces the money they have available to spend elsewhere.”

Source

Strike Debt has created a Debt Resistor’s Manual that you can read here.

It’s side project, Rolling Jubilee, has raised $552,682 to abolish $11,058,465 in debt.

nantajoong:

fraubraun:

koreanstudentsspeak:

Left:

I want a go home I’m tired

Right:

Don’t Hit ME


what’s happenin in korea

You want to know what’s happening? Korea’s education system is literally the most rotten piece of shit to ever exist. 
Let me explain the context of the poster on the left. 
The average time a kid spends in school in the US is 900 to 1000 hours per year, spread between 175-180 days (x)
In 2007 there were mass student protests in Netherlands because they increased the hours spent in school to 1040 hours per year, or 8 hours a day, 130 days a year. (x)
Korean high schools, on the other hand, enact a 3150 policy, 225 days of school with 14 hours a day, or from 8 am to 10 pm (x)
Also due to the private education sector of hagwons and the fierce competition of Korean high schools, basically after school kids go to hagwons, or personal academies, till 2, 3 in the morning, fit in maybe 4, 5 hours of sleep and go back to school. (x)
It was only in 2012 that schools went from having classes on Saturday excluding the first and third Saturday, and it was only in 2007 when they changed from having class every Saturday. (x)
This system is literally the epitome of the factory schooling system which comes as a result of a capitalistic schooling system and it works kids too hard which is one of the reasons Korean school kids are some of the unhappiest of pretty much any OECD country. (x)
For the photo on the right, physical punishment is not fully banned in Korea. 
Since 2011, Seoul, Gyunggido, Gangwondo, and Julla Bukdo have banned the use of direct physical punishment, or basically hitting kids with either tools or physically with their body. That being said that’s basically only about half of South Korea. 
Also, indirect physical punishment such as making kids to planks, make them kneel with their hands up, making them run laps, or of the sort is still fully acceptable in all Korean schools. (x)
Anybody who’s a Korean in a Korean school right now already has experience with getting beat by a teacher and some kids still have to deal with physical punishment by teachers. 
Zoom Info
Camera
Nikon COOLPIX P310
ISO
100
Aperture
f/2.8
Exposure
1/125th
Focal Length
4mm

nantajoong:

fraubraun:

koreanstudentsspeak:

Left:

I want a go home I’m tired

Right:

Don’t Hit ME

what’s happenin in korea

You want to know what’s happening? Korea’s education system is literally the most rotten piece of shit to ever exist. 

Let me explain the context of the poster on the left. 

The average time a kid spends in school in the US is 900 to 1000 hours per year, spread between 175-180 days (x)

In 2007 there were mass student protests in Netherlands because they increased the hours spent in school to 1040 hours per year, or 8 hours a day, 130 days a year. (x)

Korean high schools, on the other hand, enact a 3150 policy, 225 days of school with 14 hours a day, or from 8 am to 10 pm (x)

Also due to the private education sector of hagwons and the fierce competition of Korean high schools, basically after school kids go to hagwons, or personal academies, till 2, 3 in the morning, fit in maybe 4, 5 hours of sleep and go back to school. (x)

It was only in 2012 that schools went from having classes on Saturday excluding the first and third Saturday, and it was only in 2007 when they changed from having class every Saturday. (x)

This system is literally the epitome of the factory schooling system which comes as a result of a capitalistic schooling system and it works kids too hard which is one of the reasons Korean school kids are some of the unhappiest of pretty much any OECD country. (x)

For the photo on the right, physical punishment is not fully banned in Korea. 

Since 2011, Seoul, Gyunggido, Gangwondo, and Julla Bukdo have banned the use of direct physical punishment, or basically hitting kids with either tools or physically with their body. That being said that’s basically only about half of South Korea. 

Also, indirect physical punishment such as making kids to planks, make them kneel with their hands up, making them run laps, or of the sort is still fully acceptable in all Korean schools. (x)

Anybody who’s a Korean in a Korean school right now already has experience with getting beat by a teacher and some kids still have to deal with physical punishment by teachers. 

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