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gewg_ writes:

Common Dreams reports

As Occupy Wall Street marked its third anniversary on Wednesday, one offshoot group, Rolling Jubilee, made a historic achievement as the collective bought and abolished nearly $4 million in debt owed by thousands of students.

Rolling Jubilee, a project of Occupy Wall Street's Strike Debt movement, acquired debt incurred by students of Everest College, one of the operations of Corinthian Colleges (CCI), an umbrella company of for-profit schools, and paid for it at a discounted rate, clearing a total of $3.85 million from the collective debt of 2,761 people.

"Debt is the tie that binds the 99 percent, whether you are a student delinquent on your student loans or a parent struggling to pay healthcare bills," said Strike Debt activist Ann Larson. "Being forced into debt for basic social services is a systemic problem and the only solution is to respond collectively to create a new, equitable economy."

Corinthian Colleges--and by extension, Everest--is facing multiple federal fraud investigations, as well as a lawsuit filed Wednesday by the Consumer Financial Protection Bureau for its predatory lending practices, as roughly 90 percent of its funding comes from federal student loans, Rolling Jubilee said.

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