The collective weight of American student debt is a drag not just on those paying the debt, but on our entire economy. 

You could call it a bubble, but it’s more like a ball and chain. Bubbles are, after all, light and airy.

The collective weight of American student debt is now over $1 trillion, and that weight is a drag not just on those paying the debt, but on our entire economy. It’s hard to calculate exactly, because the lenders are notoriously unwilling to hand over their data, and with students defaulting at ever-higher rates, interest rates and fees are always changing, adding constantly to the weight of the burden college graduates (and those who didn’t graduate but still have to pay off the loans they took out in more hopeful times) carry.

Around the country, activists are marking the date with actions; in New York, a rally and march will be the centerpiece of what the Occupy Student Debt Campaign has dubbed 1-T day; the day the amount of debt we’re carrying to pay for our education officially got too big to bear silently. The rallies aim to end the isolation that debtors often feel, to bring people together to understand that the problem they have is shared by millions of others—and that it calls for political solutions.

“I think that we in America have become so separated from one another, partially due to this debt,” Pam Brown, an organizer with the Occupy Student Debt Campaign, told AlterNet. “The debt makes us very individual; we can’t afford to help someone else, we can’t afford to spend our time in a way that’s not productive.”

More>>