Student loan recipients go on repayment strike, face default

Sarah Dieffenbacher is on a debt strike. She's refusing to make payments on the more than $100,000 in federal and private loans she says she owes for studies at a for-profit college that she now considers so worthless she doesn't include it on her resume.

The "debt strike" sentiment is catching on.

Calling themselves the "Corinthian 100" — named for the troubled Corinthian Colleges, Inc., which operated Everest College, Heald College and WyoTech before agreeing last summer to sell or close its 100-plus campuses — about 100 current and former students are refusing to pay back their loans, according to the Debt Collective group behind the strike.

They're meeting Tuesday with officials from the Consumer Financial Protection Bureau, an independent government agency that already has asked the courts to grant relief to Corinthian students who collectively have taken out more than $500 million in private student loans.

The Education Department is the group's primary target, because they want the department to discharge their loans. A senior department official is scheduled to attend the meeting...

http://www.msn.com/en-us/news/us/student-loan-recipients-go-on-repayment-strike-face-default/ar-AAafuwj?ocid=iehp