Albert Lord, CEO Sallie Mae Inc., President Donald Trump, The Virginia State House, The Virginia State Senate, The United States House of Representatives, and The United States Senate
Reinstate Bankruptcy Protection on Private Student Loans
Now is the time to help the Student Debtors. Student debtors are not just young graduates, they come from all walks of life, and all of them need the reinstatement of basic consumer protections...namely bankruptcy protection.
Why is this important?
Student loans are well known by Americans as an excellent way to provide for those who would otherwise not be able to afford college. In 2008, the banking industry petitioned to remove all basic consumer protections for these private loans, and won. Student loans have since surpassed the National Credit Card Debt, and this occurred due to of the lack of basic consumer protections. The ability to apply for bankruptcy if there is a need is a basic right all other forms of loans currently possess. We are calling our Senate and House representatives to reinstate the basic protections on Private Student Loans that have been overlooked for much too long.
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