Student loans, over the past 10-15 years, have had all standard consumer protections stripped away. Truth in lending disclosures, usury protections, fair debt collection practices, legal due process in collection cases, standard refinancing rights, bankruptcy protection, statutes of limitations — all don’t exist for student loans.

Charge up a bunch of junk made in China at the mall on credit cards? No problem, you can negotiate, refinance, or discharge the debt in bankruptcy. Buy a house for five times your income? No problem, you deserve a bailout! Student loans? You will be hunted like a fugitive for the rest of your life.

All other government debt, such as Veterans Administration loans and Small Business Administration loans – are covered by normal consumer protections as mentioned above. Default on a student loan, and you are not entitled to any proof of the debt, you are not entitled to legal process, you do not have a statute of limitations or bankruptcy protection, and you can only refinance (consolidate) your student loans once.

The $600 billion in current outstanding student loan debt is a lead weight anvil suffocating the middle class.

For more information, see StudentLoanJustice.org