Student loan interest rates should be lowered to the prime rate. This is the interest rate banks are charged to borrow money from the government. Loan repayment amounts should be lowered to 5% of a borrower's adjusted gross income. All loans should be forgiven after five years with the completion of 2000 hours of community service.
Why is this important?
Student loan debt reduction and elimination to maintain our country's competitive edge in the new global economy. This petition would bolster the economy through new home purchases, increased number of college graduates, and increased community service.
