Over the past twenty years, student loan debt in the United States has more than doubled. We are now graduating students with a marvelous skill set as well as a mountain of debt. If we were to take our tax dollars and invest them in paying off student loan debt in this country, we would be investing in our future and in ourselves. Many individuals and families pay more than a third of their monthly income to student loan debt. If we free up this earned income by paying off debt, our educated masses in this country could create new businesses, invest in homes, and become a foundation for the new economy. This will have a much deeper positive impact on all Americans than handing bailouts to corporations who have no impetus to invest in this country.
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We the Undersigned are writing to you to ask for a real economic stimulus plan for America.
Hundreds of billions of our tax dollars have been given to Wall Street and other corporations in hopes of "jump starting" the economy. We want to see our tax dollars going directly to Main Street rather than routed through Wall Street.
Americans are increasingly saddled with debt. Chief among this debt is student loan debt. We provide the best education in the world in our colleges and universities, but we leave our graduates at a severe disadvantage as they leave our institutions with a degree and a mountain of debt. This debt inhibits many of these young people from achieving their dreams and making productive contributions to America and the American economy.
We ask you to consider a relief package for student loan debtors. By forgiving student loan debt, we can invest in our future and save our economy. Families pay upwards of a third to half of their monthly incomes trying to pay down student loan debt. If this real wealth was freed, our educated masses could spend that money by creating new businesses, which would in turn create new jobs. Freed from debt, these families could also begin to invest in themselves by purchasing homes and land. This would infuse our economy with real wealth that would benefit all sectors not just the wealthy few on Wall Street.
We ask you to make a real investment in America. We ask you to truly stimulate this economy. We ask you to use our tax dollars to relieve the burden of student debt and allow our graduates to truly use their education to give back to this great country.
Thank you for bringing hope to America. Now, let us help you turn that hope into a brighter future.