10 signatures reached
To: President Donald Trump, The United States House of Representatives, and The United States Senate
Eliminate Student Loan Debt
Eliminating old Student Loan Debt would relieve people who have not been able to pay their loans. Student Loan Debt is a big financial weight on those who live in economically challanged places. Deferments are limited and capitalizing interest only makes the loan grow. It should also be illegal to charge interest on student loans owned by Freddie Mac and Sallie Mae when we, the tax payers, just gave them money to bail them out of their troubles. So we pay them interest on our own money!!!!
Why is this important?
People who owe more than 20,000 on Student Loans, have not been able to pay them for over 10 years, and have been unable to pay them because they just don't make enough money, should have their loans forgiven. Currently, their is a limit on how many deferences due to economic hardship a graduate can get and forbearance just makes the loan worse because they capitalize the interest thus increasing the loan!