Tell Obama and Congress You Support the Student Loan Forgiveness Act
- av: Susan V.
- mottagare: U.S. Congress and President Obama
Hats off to Congressman Hanson Clarke (D-Mich) for introducing the Student Loan Forgiveness Act of 2012. This legislation is way past due.
As it is, says Clarke, loan debt is creating such a burden that many college grads are unable to start businesses, invest or buy homes, and students are forced to go into significant debt to obtain the education usually required for earning a living wage. College students and parents supporting them, as well as anyone who's graduated within the last 15 years knows this problem is real, and it's serious.
Even though the legislation is not perfect, says Student Loan Ranger, it should help many, forgiving some loans after ten years of payment and capping new loans at 3.4% interest. The Daily KOS calls the act a "REAL economic stimulus and jobs plan" - one we all should support.
Tell Congress and Obama You Support the Student Loan Forgiveness Act of 2012.
We, the undersigned, believe it's way past time for the government to intervene in relieving the debt burden on college students and graduates still paying education loans.
The U.S. should be embarrassed that the richest country in the world would require students go into huge debt to get a college education, when other developed countries either offer it free or at relatively far lower costs.
The U.S. has, according to Distance Education.org, "the most expensive college education in the world," with an average cost of $20,000 and a lot more when you take into account interest on student loans. And costs are rising, "increasing faster than the economy as a whole," even since before the recession.
Certainly everyone either knows someone or is someone sinking under the weight of this unjust burden. If the government can bail out banks once swimming in luxury, the least it can do is rescue hard-working individuals drowning in college debt.
We support this bill and request it be passed without further delay.
Thank you for your attention to this matter.
