American Awakening- US anti-Capitalism protesters hold more rallies

The anti-Capitalism activists are holding demonstrations across the United States to protest record-high college costs.

The Student Debt Campaign, organized by members of the anti-Capitalism protesters, on Wednesday held demonstrations in over a dozen US cities.

Organizers said the protests, dubbed “One Trillion Dollar Day”, were meant to point to the fact that US student loan debt has reached one trillion dollars.

Students at US universities say the vast majority of the one trillion dollars worth of student debt is held by Wall Street banks.

Meanwhile, the Federal Reserve Bank of New York says student loan debts reached 867 billion dollars in the fourth quarter of 2011 and will cross one trillion dollars landmark within this year.

Students say the banks securitize their loans and make huge profits from them. Student Debt Campaign organizers also claim that US corporations try to pass on the costs of education to students.

In addition, the protesting students are calling for an extension of low-interest rates on federally subsidized loans.

The anti-Capitalism movement began when a group of demonstrators gathered in New York’s financial district on September 17, 2011 to protest against corruption, the unjust distribution of wealth in the country and the excessive influence of big corporations on US policies.