To: President Donald Trump, The United States House of Representatives, and The United States Senate
Allow People with Outstanding Student Loan Debt to file for Bankruptcy
Many of those who obtained an undergraduate or even graduate degree, cannot find work to pay back their weighty student loan debt. Please sign this petition for the US Government to once again allow those with outstanding and unpayable student loan debt to file for bankruptcy, and get a fresh chance at life.
Why is this important?
High interest rates coupled with collection agency fees, increase original student debt dramatically. Many of these former students are unable to apply for a mortgage, start a family, or take out a business loan due to their outstanding and unpayable debt. During the last Bush administration, these Americans were outlawed from filing for bankruptcy, often the only recourse they had to get out from under crushing debt. This situation is a kind of indentured servitude which unwitting students signed up for, naive of the reality that they would never be able to repay these loans. These adults are not only in their 20's and 30's, but often in their 40's and 50's as well. The fact is that some of America's brightest and best are unable to thrive despite a world class education. We can change this now, and give these graduates a real future.