From: Gary Koniz <gary.koniz@hotmail.com>
Sent: Wednesday, October 16, 2019 12:22 PM
To: david.szymanski@unf.edu <david.szymanski@unf.edu>; Sharon Bove <s.bove@unf.edu>
Subject: Fw: Resolving Our Nation's Student Loan Debt Crisis
Dear Ms. Sharon Bove, Administrative Assistant:
To: UNF President David Szymanski:
From: Journalist Gary L. Koniz – August 23, 2019
Dear Ms. Bove:
I thought you might want to appreciate the letter in Call To Action that I received from The U.S. Secretary Of Education, Ms. Betsy DeVos /in care of/ The Director, Policy Coordination Group for The United States Department of Education, Ms. Annmarie Weisman. This is a constructive step forward in the public government acknowledgement addressing the hardships of Student Loan Debt Crisis occurring that is to be resolved in two parts: by achieving our Nation's Goals of providing Substantial Subsidized Funding to our United States Colleges, Universities, and Trade Schools to lower Student Tuition Costs and Reduce Student Loan Debt; and also to reform and restructure the manner in which Student Loan Debt is being handled presently with a goal to Student Loan Forgiveness for Untenable Loan Debt, or to a ruling of Student Loan Deferment from Accumulating Interests and Subjection To Predatory Lending Collection until such Untenable Debt Can Be Re-Paid.
Unfortunately, according to Director Weisman, the matter needs to be referred to The Congress for any changed to the Title IV of the Higher Education Act (HEA) of 1965, as amended, and is not up to The Department of Education. Nothing has been resolved therefore other than to shift its resolution to Congressional Action, and more talking at the problem; (which is for the Immediate Debt Relief of every student suffering untenable debt as a result of Underage and/or Misrepresented Fraud in the Inducement) which would seem to be the responsibility of The Department of Education via The Secretary of Education or by Executive Order To Fix. The Call heretofore discussed is for Federal Injunctive Relief to the Afflicted Students under Financial Duress until Congressional Legislation Relief can be made.
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And to thank you so much once again and to state how much I appreciated your courtesy in polite attention to my briefing conference on resolving the dire subject of Student Loan Debt totaling now at 1.5 Trillion on the average of $47,671 per household with $166 billion in loans presently in default and being managed by private collection agencies; and for forwarding this information along with my presentation on the Full Faith Fiat Money Bill on to the University of North Florida President Mr. David Szymanski to help reduce our Public Education Universities Student Loan Tuition Costs in noblesse oblige of the United States Government.
To provide you with some background information about my knowledge on this subject of Student Loan Debt; I applied to and was hired with a Federal Security Clearance in June of 2016 by General Dynamics Information Technology (GDIT), a subsidiary of Maximus Inc., located at 1 Imeson Park Blvd, Jacksonville, FL, and was trained to work in their Student Loan Debt Resolution Group Call Center that employed 27 Debt Resolution Specialists at that time and handled calls non-stop 6 days-a-week from 8:00 A.M. to 10:00 P.M. at night; as to the extent of my research on the project that was subsequently aired by CBS Evening News on April 30, 2019 (that is still being left without resolution, and with "RESOLUTION" being the operative word.) So, believe me, I have listened to their many stories of students suffering terrible financial ruin for their dreams of pursuing a College Degree Diploma and Better Paying Middle Class Jobs; which is the lure of the loans.
https://www.cbsnews.com/video/student-loan-debt-crisis-spans-generations/
Student loan debt crisis spans generations - CBS News
Student loan debt is a $1.5 trillion financial crisis in America. The average household with student debt owes more than $47,000. Mark Strassmann examines the issue in a special CBS News series ...
Trump Official Resigns, Now Supports Student Loan Forgiveness - forbes.com
According to the Wall Street Journal, A. Wayne Johnson will resign his position as chief strategy and transformation officer at the U.S. Department of Education and call for cancelling most of the ...
1. On Point of what being: that it is unconscionable for our Nation's Public and Private Universities to "Exploit" Student Loan Debt for their financial bottom line. To point-out that these are our Nation's Children, (to be treated as our own children,) who are being financially ruined and made to suffer for their dreams of a higher education. And that these Universities know from the outset that the loans are untenable; and that once begun, that they will continue on until graduation.
2. The hard reality being that students upon completing their education cannot find suitable work in their chosen field and are then unable to pay their student loans.
3. That the "Interest" of these student loans goes to 11% when they are no longer registered for full time courses a semester and continues until the loan is paid-off.
4. When these loans go into "Default" after 60 Days of non-payment, they are then put into "Collections" by ruthless mercenary Private Debt Collecting Agencies who tack-on an additional 22% of the total loan for their private agency collections fee work and who then hound the student night and day with threatening phone calls.
5. And that, after a six month period of unsuccessful Private Collection Agency harassment, that The Federal Government then begins a "Garnishment of Wages" process; (a) at 25% of a Student's Current Income (regardless of how insufficient in the terms of household finances;) (b) Confiscation of All Federal and State Income Tax Refunds; (c) and also includes a 30% Confiscation of Social Security Benefits, Railroad Retirement, or Federal Pension; (d) and law suits for liens on property.
The Cause of Action being: that the Implied Intent of the Student Loan Contract is for the purposes of securing financially enhanced employment. Investigation and Reporting are not the solution. FIXING THE PROBLEM IS THE SOLUTION; (a) by acknowledging that enormous Unsecured Student Loans are not to be handed out unless they are backed-up by a degree related expectation of employment in the reality of ability to repay. And (b) that subsequently, should any default of loans occur due to an inability to find Suitable Degree Related Employment; that these Student Debts, “SHALL BE DEEMED DEFERRED,” UNTIL THEY CAN BE REPAID BY A DETERMINATION OF FINANCIAL ABILITY; and Are Not Further To BE Tortured by Accrual of Interest, Collection Fees, and Garnishments.
As far as our sensible adoption of the Fiat Issue Monetary Resolution is concerned; our Nation is 22.5 Trillion Dollars in National Debt that WE can never hope to free ourselves of under the current Outdated System of Traditional Supply and Demand Economics Taxation; and that requires a Modern Hybrid Solution of being able to Issue (Not Print) the currency generation WE need to sustain ourselves Nationally, (based to: Article 1 - Section 8 - Paragraph 5 of The Constitution For The United States - The Congress Shall Have The Power To: coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;) and thereby to supply our Public Universities with the Grant Monies they require to provide reasonable tuition costs to our Nation's Students for the betterment and well-being of our Society here in The American United States. The Security and Well-Being of Our Nation Is What Is At Stake Here, to achieve (in the words and vision of our late President John F. Kennedy,) a Democracy of Excellence Transcending Politics.
Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn’t need, doesn’t want or can’t afford. Borrowers are protected under several federal laws. The Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Federal Trade Commission Act and the Consumer Financial Protection Act all provide a level of protection for private student loan borrowers. The same applies to federal student loans; however, the borrowing process does not require an assessment of a person’s financial capacity or a review of credit history for most federal loans, with the exception of Parent and Graduate PLUS loans. All borrowers have a right to a full disclosure of terms before signing a loan agreement. Willful and knowing violations of TILA permit imposition of a fine of $5,000, imprisonment for up to one year, or both.
Consumers have debt collection rights. While you may have the benefit of different options for affordable repayment of your private student loans, it may be necessary to restructure these loans when it becomes difficult to maintain on-time payments. Restructuring a private loan may include refinancing a single loan or consolidating multiple loans into one. For short-term affordable repayment solutions, borrowers may choose deferment or forbearance. Debt forgiveness is not a right or guarantee, but there are cases of extreme hardship that may qualify for a loan discharge. The same considerations are true for federal student loans with the additional options associated with income-driven repayment programs, like the Pay As You Earn Plan, known as PAYE, or the Income-Based Repayment Plan, IBR.
The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. The Federal Trade Commission Act is the primary statute of the Commission. Under this Act, as amended, the Commission is empowered, among other things, to (a) prevent unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce; (b) seek monetary redress and other relief for conduct injurious to consumers; (c) prescribe rules defining with specificity acts or practices that are unfair or deceptive, and establishing requirements designed to prevent such acts or practices; (d) gather and compile information and conduct investigations relating to the organization, business, practices, and management of entities engaged in commerce; and (e) make reports and legislative recommendations to Congress and the public. The Statutes that are listed here are to be enforced under the FTC Act.
U.S. National Debt Clock : Real Time
US National Debt Clock : Real Time U.S. National Debt Clock
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