Three Visionary Leaders Join Charter Members on the Jack Kent Cooke Foundation Board
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Three Visionary Leaders Join Charter Members on the Jack Kent Cooke Foundation Board
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
How student debtors took a radical idea to the mainstream
Illustrations by Lyndon Hayes
In the summer of 2007, Thomas Gokey had just graduated from the School of the Art Institute of Chicago, and he was thinking about how much his degree had cost him. His diploma was a simple piece of paper, but it came with a price tag of thousands of dollars dollars that were themselves pieces of paper, transmitted to him in the form of student loans, which he now owed to the federal government. While chewing on this thought, he had an idea for a project that would occupy him for much of the next year. He obtained a letter of permission from the Treasury Department’s Bureau of Engraving and Printing to go to a Federal Reserve bank of his choice and pick out some shredded bills from its stores of mutilated currency. One day, he walked over to the Federal Reserve Bank of Chicago, five blocks from the Art Institute, and asked for some money.