How Student Loan Debt Is Turning Us into Serfs

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Top Tier Gear USA

ball and chain

The Medieval era is well-known for being littered with feudal societies, ruled by royalty and served by serfs who kept the system running with back-breaking labor. Contrary to popular opinion though, the serfs weren’t exactly what we would call ‘slaves.’ They definitely had more rights and opportunities than many of their ancestors from the Roman Empire, and they weren’t owned by other people.

Instead, they were merely ‘tied down.’ They often didn’t have the freedom to move about, not because there were walls and watch towers keeping them penned up, but because they were beholden to the land. They had to pay part of their income if they wanted to stay on that land, and if they wanted any kind of protection.

And because their world was far more dangerous than ours, they desperately needed the protection of the lords and their soldiers, which meant that they couldn’t risk leaving their land for better opportunities. In most feudal societies, it wasn’t politics that kept the people down, it was their financial situation.

In much the same way that feudalism kept its people tied to the land for multiple generations, our current financial system is also producing a perpetual serf class; mainly through the issuance of student loans. Unlike most debts (of which we have plenty) there is no escaping these loans. In most cases, you don’t have the option to declare bankruptcy and start anew with a clean slate. As a result, many of our citizens are not only carrying heavy debts, they’re laying the groundwork for having indebted children as well.

Data analyzed exclusively by the AP, along with surveys about families and rising student-debt loads, show that:

• School loans increasingly belong to Americans over 40. This group accounts for 35% of education debt, up from 25% in 2004, according to the New York Federal Reserve. Contributing to this surge are longer repayment schedules, more midcareer workers returning to school, and additional borrowing for children’s education.

• Generation X adults — those 35 to 50 — owe about as much as people fresh out of college do. Student-loan balances average $20,000 for Generation X. Millennials, 34 and younger, have roughly the same average debt, according to a report by Pew Charitable Trusts.

• Gen X parents who carry student debt and have teenage children have struggled to save for their children’s educations. The average they have in college savings plans is just $4,000, compared with a $20,000 average for teenagers’ parents who aren’t still repaying their own school loans, Pew found. A result is that many of their children will need to borrow heavily for college or pursue cheaper alternatives, thereby perpetuating a cycle of family debt.

• Student debt is surpassing groceries as a primary expense for many borrowers, with the gap widening most for younger families. The average college-educated head of the household under 40 owes $404 a month in student debt payments, according to an AP analysis of Fed data. That’s slightly more than what the government says the average college-educated family spends at the supermarket.

There are now two separate debt cycles at work here. Ever since the government started issuing these loans and made them nearly impossible to default on, it has given the colleges an incentive to raise prices. And since these loans allowed more people to go to college, the marketplace is saturated with college grads, and their education quality is often watered down. This means that the average person now needs a higher education to set themselves apart from their peers, which of course costs more money. And on and on it goes.

And these massive debts have spawned another horrible cycle between parents and their children. It’s already incredibly difficult to start a family when you owe tens of thousands of dollars, but for those who do, they now have less money to save for their children’s education. Surely, their progeny will also be burdened with debt if they decide to follow their parent’s footsteps. Considering that around half of America’s college graduates are stuck in jobs that don’t require a college degree, that would probably be an awful mistake to make.

Our society is already populated by millions of people working menial jobs while burdened with absurd debts that will keep them ‘tied down’ for the rest of their lives. So there really isn’t much distance left between us and our medieval ancestors. The only thing that was missing from this situation, was the passing of these debts to our children. However, we’re no longer robbing our future progeny with these debts. Now it’s happening to our children in the present. Feudal America has officially arrived for those who are trying to improve their lot in life with a college education.

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Contributed by Joshua Krause of The Daily Sheeple.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .

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  • Nexusfast123

    Debt in general is slowly destroying our societies.

    • Undecider

      That’s what debt is supposed to do.

      • BDBinc

        Yes Iis odious and its an enslavement tool. The corporation uses your “legal name” to create money( or to borrow money you are collateral.So YOU are the one creating money for the corporations. They think of persons that are limited to identify with the matrix’s “legal names” as employees/debt slaves.

    • BDBinc

      .Thing about this is the ‘legal name ‘is used to create the money out of thin air and that money goes to a corporate business( university) and interest to another party.
      This means that the human being’s “legal name ” was used to create wealth for the corporation and its businesses( uni) this is not being given ‘consideration’ and there is not full disclosure on the loan papers. Ask for evidence of the debt being lawful to be provided in 28 days. Always note ” without prejudice” on correspondence .

      A contract to be binding has to meet conditions:

      1)Full disclosure

      2)Equal consideration( they brought nothing of value to the table and had nothing to lose)

      3) Lawful Terms and conditions

      4) Signatures of both parties( corporations can’t sign as they have no reasoning mind to contract, they are legal fictions and no third party can sign a contract on their behalf.

      (Or google “loose the name” or Dean Clifford if you want to learn about your rights and the corrupt nature of the “legal system”).

  • The indoctrination of 12 years of the public fool system is merely supplanted and cemented in place by higher education, and that is more of a ball and chain than any amount of unpayable and, ultimately, defaulted debt could ever be. The sense of entitlement of the average American is totalling enslaving where it allows any serious and effective introspection.

    • BDBinc

      The indoctrination of the corporation makes you a debt slave or “legal name”. When they profit off using the legal name that you are the administrator of, you talk of ways to pay the corporation that enslaves you. You spend your whole life in the Matrix working with your sole goal of trying to grow your wealth, like a good slave.
      That they make you pay for your indoctrination is not questioned or called odious debt.

      • And much as the drug addict, the debt addict enters into his/her affliction amid copious evidence of its effects.

        • BDBinc

          Debt is created when the govt uses fraud( the beings legal name) to borrow money for its continued oppression of the poor sod. Most of the debt created is corporate debt which is quickly placed on the people’s tab.So I are not talking about (debt) addicts.

          • The vast majority of the debt in the world is perfectly lawful and the major problem is that is not secured, so those who default only trash their credit rating and future opportunities to enter into more. Such behavior is identical to people who are addicted to drugs, and since I have zero debt and no easy way to become indebted, I can just sit back and watch the debt addicts get desperate for enough to buy their immediate necessities, which is when I will buy what I want of theirs for pennies on the dollar.

          • BDBinc

            No its not lawful. If I am a corporation and use your legal name to borrow money from loan sharks( private banksters)to keep you ignorant and working to pay off the debt I borrowed uding a legal name without consent( no disclosure) its not lawful

          • The commission of fraud doesn’t impune the nature of the debt, just the issuance of it, and the enforceability of it. If you can prove the fraud in the issuance, you can discharge the debt, just as always.

          • BDBinc

            No the vast majority of odious debt in the world is fraud.

          • All debt is odious.

  • sunshine

    I never went to college, because even in the early 00’s I could tell it was a massive scam that didn’t do anything for you. Also I had experienced college lite at my public school, where having conservative opinions and not parroting the BS would get you flunked. So why would I pay money to either be forced to “go along” (obviously I can’t do that), or fail out because dissenting opinions are not tolerated? I don’t have much money but I’m not in debt!

    • That right there is why I am in the IT field. In IT it doesn’t matter where you went to school or even if you went to school, you are simply judged by your ability and knowledge + you can get certifications in specific areas and employers favor those specific certifications over a general computer science degree because they are usually vendor specific.

      No student loans for me and I was able to get myself a career without school at all but I did work at it very hard for a long time and I am not a normal case. At one point I worked for 6 months without pay doing something I really didn’t like just to get a shot at the next opportunity I could. I was getting kicked out of my parents’ house at the time for “being a bum” aka. not working at a factory. I instead pursued my dreams and went for what I was truly talented at. If I pleased my parents and stayed working at that factory I’d still be there today. I am glad I followed my gut and didn’t listen, I ended up disowning them within a few years anyway so all of my decisions were the right ones but when I was facing those decisions it was tough.

      • I would have gone that way has I not been caught between the mainframe and the PC worlds by poor timing, and attending a school that taught only COBOL and struggled to find its way out of batch into demand processing. I left the night that the last instructor who knew Fortran did, and still have the proficiency certificate that he typed out on the department head’s Underwood.

        • Poor timing is correct indeed. I got in just as that world was ending and I actually knew COBOL for a bit also. My first few courses were COBOL and mainframe classes and then everything switched to object oriented programming near the end of my instruction. They actually gave me free courses because I was attending during the switch over and I wanted to learn object oriented programming because that was the future and they felt bad because without the extra free courses I was really getting screwed by learning outdated technology.

          • All of that is fine until the hyper- and de-flationary cycles begin, and then people with your skills will be underbid by people with equivalent capabilities that can live very comfortably on a fraction of what you are making now, especially those who can work via the Internet from a ghetto in the third world. All of this assumes that the businesses who use the infrastructure that you work on will remain in operation, and that may not be the case, shortly. If I were you, before TSHTF, I’d have some experience to trade on under your own shingle…

          • Not me, fortunately. I am part of a private business that is loyal to their employees as I am loyal to them. I got less than 10 years anyway, by that time I won’t have time to work for w-2 income anymore.

          • Loyalty doesn’t extend to 10 years of redundancy outside of government.

      • Frances George

        Work at Home~Follow this guide to make $97/hour…I just purchased themselves a McLaren F1 when I got my check for $19993 this past 4 weeks and just over 17 thousand lass month . this is really the nicest-work Ive had . I began this 10-months ago and straight away started making more than $97… p/h .learn the facts here now .
        ➤➤➤➤ http://GoogleCyberTechHomeJobsEmploymentPrime/get/chance/top…. ✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱✱

    • Likewise, but I chose not to go to college because 12 years of stark raving boredom was enough for me. In corporate life, failing to toe the corporate line will leave one in the dregs, but I’ve always preferred the path less travelled. When one doesn’t have rent, mortgage, utilities, and property tax to pay, one can live a leisurely life at the bottom of the pay scale.

  • Get rid of the debt mindset, the scarcity mindset and adopt an abundance mindset. Instead of buying stuff with your credit card and then paying 15%+ interest on it completely reverse your game and INVEST money at 10%+ interest(you can earn over 20% if you do it right) with something like lending club: – get started with only $25! I am going to do this inside of my self directed IRA so all of my gains will be tax free.

    To show you this concept in action if you were to put only $25 a week which is $100 a month into this and IF your returns were at 15% which could vary either way…. but check this out:

    Your monthly deposit of $100.00 for 40 years with an interest rate of 15.00% compounded Annually with an initial starting balance of $100.00.

    Year Balance
    1 $1,395.42
    2 $2,885.15
    3 $4,598.34
    4 $6,568.51
    5 $8,834.21
    6 $11,439.76
    7 $14,436.14
    8 $17,881.98
    9 $21,844.70
    10 $26,401.82
    11 $31,642.51
    12 $37,669.31
    13 $44,600.12
    14 $52,570.56
    15 $61,736.56
    16 $72,277.46
    17 $84,399.50
    18 $98,339.84
    19 $114,371.24
    20 $132,807.34
    21 $154,008.86
    22 $178,390.61
    23 $206,429.62
    24 $238,674.49
    25 $275,756.08
    26 $318,399.91
    27 $367,440.31
    28 $423,836.78
    29 $488,692.71
    30 $563,277.04
    31 $649,049.02
    32 $747,686.79
    33 $861,120.22
    34 $991,568.68
    35 $1,141,584.40
    36 $1,314,102.47
    37 $1,512,498.26
    38 $1,740,653.42
    39 $2,003,031.86
    40 $2,304,767.05

    Final Savings Balance: $2,304,767.05

    So to recap if you were to invest $25 a week at a rate of 15% annualized return, starting out with $100, you would be an official millionaire in 35years.

    Consider that this is BESIDES whatever else you do in life so it is a pretty powerful concept.

    • But will your wealth be exempt from the bail-ins?
      I’ll be officially dead and forgotten in 35 years, having no heirs or next of kin.

      • Who says you are limited to $25/week?

        I will be safe from all bail-ins, yes, because lending club is a private institution… you just touched on the main reason I use it as a bank account.

        • If the lending club has any connection of any kind to any corporation that has a connection of any kind to federal government agencies of any kind, they will have a nexus to seize your funds in a bail-in, assuming you are assuming that they will follow the banking laws that they have always ignored, having sovereign immunity to their own laws. Beyond that, if it provides banking services, it is subject to all the banking laws of the jurisdiction(s) in which it operates.

          • It’s not banking but I use it as a bank, I am different I tell you.

          • If it quacks like a bank…

          • If it’s a private business….

          • The vast majority of banks in the United States are private businesses. The exceptions are all state banks. The Fed is a private corporation.

          • My privately invested, heavily diversified money is not in danger of any type of bank confiscation, that is the point I am trying to make.

          • Neither is mine, since no bank ever sees any of my money, and gives me theirs when I request it at their ATM.

          • All ATMs have cameras installed and record footage.

          • Who changes and develops the film and why don’t they use electronic cameras?

          • They are electronic, look next time, it is small.

          • Then why do they shoot footage?

          • Because they are probably told to by the feds.

          • The feds know how to shoot film with electronic cameras? Electronic cameras don’t use film, so they can’t shoot footage, which is how film is measured.

          • Digital footage is a common term, look it up

          • It is an oxymoron, like many other things in the entertainment industry, although the vast majority of actual motion pictures are still shot on emulsion because a significant number of theatres still have film projectors. One day the shipping of film and video discs will end and be replaced by satellite downloads and remote control of virtually everything in most theatres.

  • Undecider

    If you can’t pay out of pocket, with grants, scholarships or tuition assistance, don’t bother.

  • Narin Singh

    fuck debt in every form. born free, live free, die free.

  • Eric Blake

    You could go to work and pay for a class at a time. Graduate with ZERO DEBT. Then again you could just complain that it’s not free and wait until it is. That way you never have to work for anything. Back to your couch and video games.

  • Rebecca Schuster

    Student debt is the worst, learn how to consolidate your student debts at