Business

‘Quite irresponsible’: What to know about the ‘student debt strike’ on August 9, 2023 at 9:09 pm Business News | The Hill

Published

2 years ago

August 9, 2023

While many borrowers are preparing to make payments on their student loans when they restart in October, others are ignoring their accounts and going on what has been labeled a “student debt strike.”

A movement led by the student loan group Debt Collective, the “strike” is not as clear cut as it seems.

In contrast with the name, most borrowers will not undergo any financial harm when on “strike” nor do their demands indicate they want to go back to paying on student loans by striking a deal with the Education Department.

Instead, the movement, which has been around since 2015, is typically made up of borrowers who already have $0 monthly payments through an income-driven repayment plan or have already deferred on their loans. Since they are not paying anything to the government, the group has labeled these actions a “strike.”

And President Biden’s “on-ramp” repayment plan that allows borrowers to skip payments for a year without financial harm is the perfect venue for the group to try to grow their movement of borrowers who say they are “striking” against loans when they don’t make any payments.

Here is what to know about the student debt strike:

When did the movement begin?

The idea of a student debt strike started for Debt Collective began back in 2015.

It began with 15 people who went to Corinthian College, a school that was found to have defrauded its students.

“We were the ones who sort of found this clause in the Higher Education Act about borrower defense. That you know, then was just like a really obscure line that said you can have your debts canceled if you were defrauded,” Braxton Brewington, press secretary for Debt Collective, said. “And so we created our own form, and the 15 people who were going on debt strike filled it out and demanded debt cancellation.”

Brewington said the form then spread and thousands of people signed it to demand student debt cancellation. Last year, Vice President Kamala Harris announced all Corinthian borrowers would receive debt relief since they were defrauded by their school.

Since then, Debt Collective has called for numerous debt strikes, including every time the Biden administration said student loans would get turned back on.

Critics have said that the way the movement is structured is being incorrectly labeled as a strike.

“I think strike is just the wrong word. You know, a strike is when you demand something or your demands are met then you return to work. The demand is a cancellation. It’s not a strike,” Alan Collinge, founder of Student Loan Justice, said.

Who has participated in this movement?

For the most part, those who have participated in a debt strike have done so in a way that has not financially harmed them.

“It has been a combination of people who both at a financial place where they really can’t pay on their student loans and so they politicize their refusal to pay by going on strike in coordination with demanding student debt relief,” Brewington said.

Some borrowers went on strike after they worked out through their income-driven repayment plan that they would be paying $0 a month. Some were already in deferment and not paying on their loans so they characterized it as a strike.

“The last thing we want is for people to financially harm themselves. We were not encouraging people to, we’ve never encouraged them to default on student loans,” Brewington said. “And I think that’s maybe sometimes when people think.”

“It’s using the tools available to us to some creative and some less creative to find a way to keep money in your pocket to go towards your necessities, rather than going to the Department of Education,” he added.

Biden’s plan makes the debt strike easier

While the movement caught the attention of some borrowers in the past, Biden’s “on-ramp” repayment plan has made the pitch easier for individuals to join the cause.

Although payments are restarting in October, borrowers will not see financial consequences, aside from accruing interest, if they don’t pay on their loans until Oct. 2024.

“It’s actually never been easier to go on a student debt strike,” Brewington said.

“In many ways, it’s just literally refusing to pay for a lot of people that will probably be at least for a year. And then I think you can sort of bet on something happening because, you know, the alternative is the Biden administration going back to those sort of harsh consequences a month before the presidential election, which seems unlikely,” he added.

The end goal of the student debt strike is not to negotiate with the department but so that borrowers will never have to pay student loan debt again.

A small movement with criticisms

There are more than 45 million student loan borrowers in the U.S., with many never having heard of this type of strike or are uninterested in it.

However, Brewington says they’ve seen a couple of thousand people in the past sign up and that their end goal was not to get all borrowers on board.

“We don’t need 45 million people participating in the debt strike for it to be effective or to make a political statement,” Brewington said

However, other student loan advocates believe the call is ignoring the larger issues and plays into the hands of debt collectors.

“There’s kind of a semantic difference. But the other key difference here is it’s quite irresponsible to call for people who can pay to stop paying their loans. Because in the absence of bankruptcy protections, that only plays into the student debt collection industry’s hands,” Collinge added.

Education, Business, News, student debt strike While many borrowers are preparing to make payments on their student loans when they restart in October, others are ignoring their accounts and going on what has been labeled a “student debt strike.” A movement led by the student loan group Debt Collective, the “strike” is not as clear cut as it seems. In contrast…

Business

When TikTok and CapCut Vanished from America

Published

3 weeks ago

January 19, 2025

Bolanle Media Staff

In a shocking turn of events, TikTok and CapCut, two of America’s most popular social media and video editing apps, vanished from U.S. app stores and became inaccessible to users on Saturday evening, January 18, 2025. This unprecedented digital blackout affected approximately 170 million American users, leaving them stunned and searching for alternatives.

The Sudden Shutdown

As the clock struck 10:50 PM Eastern Time on Saturday, both TikTok and CapCut disappeared from Apple and Google app stores. Users attempting to access the apps were greeted with a stark message: “Sorry, TikTok isn’t available now. A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can’t use TikTok for now”.

The ban wasn’t limited to just TikTok and CapCut. Other ByteDance-owned apps, including Lemon8, Hypic, and Gauth, also became unavailable to U.S. users. This sweeping action effectively cut off access to a suite of popular digital tools that millions had come to rely on for entertainment, content creation, and even business purposes.

The Legal Battle

The shutdown came after a tumultuous legal battle that culminated in a Supreme Court decision upholding a federal law requiring ByteDance, the Chinese parent company of TikTok and CapCut, to either sell its U.S. operations or face a ban. The legislation, passed in April 2024, cited national security concerns related to data privacy and potential foreign influence.

Impact on Users and Creators

The sudden disappearance of TikTok and CapCut has left content creators and everyday users in a state of digital limbo. Many relied on these platforms not just for entertainment, but as essential tools for their livelihoods and creative expression. The ban has disrupted a thriving ecosystem of digital content creation, leaving millions to scramble for alternative platforms and editing tools.

Political Implications and Future Uncertainties

As the dust settles, all eyes are on the incoming administration. President-elect Donald Trump, set to take office on January 20, has hinted at a potential 90-day extension for ByteDance to sell TikTok. This development has injected a new layer of uncertainty into an already complex situation.

What’s Next?

While the apps remain inaccessible, ByteDance and TikTok officials continue to work towards a resolution. TikTok’s message to users ends on a hopeful note, stating, “We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned”.

As America grapples with this digital void, questions about data privacy, national security, and the future of social media regulation loom large. The TikTok and CapCut ban marks a significant moment in the ongoing debate over the influence of foreign-owned technology companies in the United States, with far-reaching implications for users, creators, and the tech industry as a whole.

Bolanle Media covers a wide range of topics, including film, technology, and culture. Our team creates easy-to-understand articles and news pieces that keep readers informed about the latest trends and events. If you’re looking for press coverage or want to share your story with a wider audience, we’d love to hear from you! Contact us today to discuss how we can help bring your news to life.

Business

TikTok Ban Drives 216% Rise in U.S. Users Learning Chinese on Duolingo

Published

3 weeks ago

January 16, 2025

Bolanle Media Staff

Duolingo has reported a remarkable 216% increase in U.S. users learning Mandarin Chinese, coinciding with the impending ban on TikTok, set to take effect on January 19, 2025. This surge is attributed to many TikTok users migrating to a new Chinese social media platform called RedNote (also known as Xiaohongshu), which defaults to Mandarin as its primary language. As TikTok users seek alternatives amidst concerns over data privacy and app availability, they are turning to RedNote, prompting a cultural exchange that has driven interest in learning Chinese.

The spike in Mandarin learners began around mid-January, aligning with the growing popularity of RedNote among former TikTok users. Duolingo’s marketing team has actively engaged with this trend on social media, humorously acknowledging the phenomenon with posts like “Learning Mandarin out of spite? You’re not alone”.

Additionally, Duolingo has seen a 36% increase in downloads in the U.S., reflecting heightened consumer demand for language learning resources as users adapt to the new social media landscape.

The transition from TikTok to RedNote has not been without challenges, as some users have encountered technical issues during registration and account suspensions.

Nevertheless, this shift underscores a significant demand for social networking experiences that resonate with American users while navigating the complexities of Chinese platforms.

Business

TikTok’s Final Countdown: The Sunday Shutdown

Published

3 weeks ago

January 16, 2025

Bolanle Media Staff

As the clock ticks down to January 19, 2025, TikTok users in the United States are bracing for a significant disruption. The app, which boasts approximately 170 million users in the country, faces a potential ban that could render it non-functional by this Sunday. Here’s what you need to know about the impending ban and its implications.

Key Details of the Ban

The anticipated ban comes amid ongoing national security concerns regarding TikTok’s Chinese ownership. Government officials have raised alarms about the possibility of sensitive user data being accessed by Chinese authorities. As a result, the app is expected to be removed from digital app stores, effectively cutting off new downloads and updates.

What Will Happen?

Removal from App Stores: On January 19, TikTok will likely be taken down from platforms like the Apple App Store and Google Play Store.
Existing Users Affected: Current users may find that their app becomes non-functional, losing access to new content creation and updates.
Data Preservation Challenges: Users may face difficulties in preserving their data and content as the deadline approaches.

Recommendations for Users

In light of the impending ban, TikTok users should take proactive steps to safeguard their content and data:

Download Personal Data: Users can access their TikTok settings to download their data before it’s too late.
Export Saved Videos: Save any cherished videos or content that you wish to keep.
Backup Content: Consider backing up your videos on alternative platforms.
Explore Alternatives: As TikTok faces its potential shutdown, consider migrating to other platforms such as:

Instagram Reels
YouTube Shorts
Lemon8
Triller

Potential Scenarios

While the ban is set for this Sunday, there are several scenarios that could unfold in the coming days:

Last-Minute Legal Intervention: There remains a possibility of a legal challenge that could delay or halt the ban.
Temporary Injunction: Courts may issue a temporary injunction allowing TikTok to operate while legal proceedings continue.
Complete Shutdown: If no intervention occurs, users will face a complete shutdown of the platform in the U.S. market.

Emotional Impact on Users

The potential ban is not just a technical disruption; it carries significant emotional weight for many users. Content creators who have built their brands on TikTok may experience economic repercussions as they lose a primary platform for engagement. Additionally, the shift could lead to broader changes in the social media landscape as users seek new avenues for expression and connection.

Conclusion

As we approach this critical deadline, TikTok users should remain vigilant and prepared for possible changes. Whether through legal maneuvers or a complete shutdown, the future of TikTok in the United States hangs in the balance. Stay tuned for real-time updates as we navigate this evolving situation together.