It was an ordinary Friday. Courtney Brown, 24, of Kalamazoo, Mich., was busy looking for a job. “I’ve applied all kinds of places,” she says. “Wal-Mart, Target, Verizon Wireless.”
Then she got a strange letter in the mail. “‘We are writing you with good news,’” she reads to me over the phone. “‘We got rid of some of your Everest College debt … no one should be forced to mortgage their future for an education.’”
The letter went on to say that her private student loan from a for-profit college, in the amount of $790.05, had just been forgiven outright by something called the Rolling Jubilee.
Since November 2012, Rolling Jubilee has purchased and eradicated about $15 million worth of debt arising from unpaid medical bills. Today, the group announced that it has erased $3.9 million in private student loans, including Courtney Brown’s and almost 3,000 other students of the for-profit Everest College.
These People Can Make Student Loans Disappear
Illustration credit: LA Johnson/NPR