Students Protest ‘Crisis’ with Student Loan Debt

HOLYOKE, Mass. (WGGB) — According to a new study released, students are incurring college loan debt at a faster rate than in previous years.

With debt loan mounting, several students took action today at Holyoke Community College.

Making their voice heard about the mountains of student debt rapidly cascading down over their collegiate lives.

At H.C.C. Thursday, students made it clear that the rising student loan obligations are at a crisis point.

“Student debt has hit the $1 trillion mark which makes it more than credit card debt combined in this country which is significant for students,” says Nicole Ouiette.

Another student, Patrick Burke, notes, “I personally am dealing with student debt. I have $12,000 in debt from basically going to a private college in Massachusetts. I actually got better financial aid initially from a private college than a public college but the recession hit financial aid and it became much more difficult to afford that education.

The latest figures on student debt are troubling. Two thirds of the national class of 2011 amassed some form of debt with graduates owing on average $26,000, up 5 percent from the class before

“I think our country is facing a crisis right now with the student debt topping a trillion dollars. I think that it’s something now that isn’t just affecting students but the entire economy.”

“Students aren’t able to move out of their parents houses, and if they have no other choice for whatever reason, they end up having to go on welfare and food stamps.”

And students say getting out from under that debt won’t be easy

“If you’re in student debt, you don’t have the regular bankruptcy protection. They can garnish your social security…your unemployment benefits. Students aren’t protected. It’s the one category that for some reason we don’t have reasonable rules to protect students from,” Burke adds.

Keeping from being crushed by the burden of student loans is one reason so many students are speaking out.