Virginia Organizing is proud to be a state affiliate of the Alliance for a Just Society, a national organization committed to social, economic, and racial justice. The Alliance for a Just Society sent out an email to their supporters asking them to take action and demand education lender Sallie Mae’s contract with the U.S. government be terminated due to illegal and unjust practices by the lender.
As a student, this issue is very important to me. Please take a minute to read the email below and sign their petition.
Thank you for all you do to create a more just Virginia—and a more just United States!
State Governing Board Member
It’s Time to Break Up With Sallie Mae
Private student loan companies like Sallie Mae make millions on servicing federal student loans, turning college students into a new cash cow. This month, the Alliance for a Just Society delivered a letter to the U.S. Department of Education calling for an end to profiting off the backs of college students and demanding the termination of the Department of Education’s contract with Sallie Mae.
The U.S. Department of Justice recently announced a $97 million fine for Sallie Mae due to their overcharging U.S. military service members and delaying payments to maximize late fees. These unethical and illegal practices are exactly why the Department of Education needs to end the contract with Sallie Mae.
The student debt crisis is said to be the next financial bubble—and it will affect millions of people’s lives. Banks like Sallie Mae need to know that breaking the law will have real consequences, like losing a major contract with the government!
We have a chance to start fixing this problem before the bubble bursts, but we need structural shifts in our financial system. The first step is to demonstrate that fraud isn’t profitable.