To: President Donald Trump, The United States House of Representatives, and The United States Senate
Student Loan Forgiveness Act 2012 - Amendment
Student Loan Debt and Consumer Debt is not the same. Make Student Loan repayment easy and total repayment amount reasonable.
Payments should be based on your "primary" income minus reasonable living expenses not before tax or gross income since you never see any of that.
80% of your payment should be applied to principle or amount you owe, then 20% toward of your payment goes toward the interest.
If you cannot make payments (for whatever reason) it "freezes" and does not "accrue" or continue to grow out of control putting you further in debt.
When you reach retirement at age 65 your loan is 100% forgiven, right now they have the right to garnish your social security check and that is scary.
Payments should be based on your "primary" income minus reasonable living expenses not before tax or gross income since you never see any of that.
80% of your payment should be applied to principle or amount you owe, then 20% toward of your payment goes toward the interest.
If you cannot make payments (for whatever reason) it "freezes" and does not "accrue" or continue to grow out of control putting you further in debt.
When you reach retirement at age 65 your loan is 100% forgiven, right now they have the right to garnish your social security check and that is scary.
Why is this important?
When this petition started circling through my emails I thought it was a good idea and I still do. However I think it needs an amendment and a little common sense applied.
Student Loan Debt should NOT be treated like Consumer Debt and a more basic repayment structure should be in place.
"I am a slave to my student loan. I will never get married, have a home or kids since I cannot afford too.
Student Loan Debt should NOT be treated like Consumer Debt and a more basic repayment structure should be in place.
"I am a slave to my student loan. I will never get married, have a home or kids since I cannot afford too.