To: President Donald Trump, The Florida State House, The Florida State Senate, Governor Ron DeSantis, The United States House of Representatives, and The United States Senate
Student loan forgiveness for all borrowers: Remove interest rates
Do it for your children, your children's children, and the future of higher education! Currently, American students including elderly citizens on Social Security are burdened with student loans which run into payments of over 20 years. Roughly only 20% of any payment is applied to principal. While interest rates currently are at a low of roughly 3% - loan rates are around 7+%. Student loan payments rob the economy when millions cannot contribute as they are paying three-quarters of their earnings to interest only!
"It's getting harder and harder to graduate college without taking on student loans.
Nearly 70% of bachelor's degree recipients leave school with debt, according to the White House, and that could have major consequences for the economy. Research indicates that the $1.2 trillion in student loan debt may be preventing Americans from making the kinds of big purchases that drive economic growth, like house and cars, and reaching other milestones, such as having the ability to save for retirement or move out of mom and dad's basement.
This student debt crisis has become so huge it's even captured the attention of presidential candidates who are searching for ways to make college more affordable amid an environment of dwindling state funding for higher education and rising college costs. But meanwhile, the approximately 40 million Americans with student debt have to find ways to manage it." (Market Watch; January 19, 2016).
A few numbers to consider (and some that bear repeating):
The total outstanding student loan debt in the U.S. is $1.2 trillion. That's the second-highest level of consumer debt behind only mortgages. Most of that is loans held by the federal government.
About 40 million Americans hold student loans and about 70% of bachelor's degree recipients graduate with debt.
The class of 2015 graduated with $35,051 in student debt on average, according to Edvisors, a financial aid website. This is the most in history.
One in four student loan borrowers are either in delinquency or default on their student loans, according the Consumer Financial Protection Bureau.
Our politicians want to put on another band aid. Hillary wants you to work and go to school. Let's tell them all student loans should be forgiven just as billions were used to bail out Corporate America and the banks. Let's make our voices heard for our children, their children and the future of America. How many students can afford to purchase a car; a home? They are burdened for the rest of their life.
"It's getting harder and harder to graduate college without taking on student loans.
Nearly 70% of bachelor's degree recipients leave school with debt, according to the White House, and that could have major consequences for the economy. Research indicates that the $1.2 trillion in student loan debt may be preventing Americans from making the kinds of big purchases that drive economic growth, like house and cars, and reaching other milestones, such as having the ability to save for retirement or move out of mom and dad's basement.
This student debt crisis has become so huge it's even captured the attention of presidential candidates who are searching for ways to make college more affordable amid an environment of dwindling state funding for higher education and rising college costs. But meanwhile, the approximately 40 million Americans with student debt have to find ways to manage it." (Market Watch; January 19, 2016).
A few numbers to consider (and some that bear repeating):
The total outstanding student loan debt in the U.S. is $1.2 trillion. That's the second-highest level of consumer debt behind only mortgages. Most of that is loans held by the federal government.
About 40 million Americans hold student loans and about 70% of bachelor's degree recipients graduate with debt.
The class of 2015 graduated with $35,051 in student debt on average, according to Edvisors, a financial aid website. This is the most in history.
One in four student loan borrowers are either in delinquency or default on their student loans, according the Consumer Financial Protection Bureau.
Our politicians want to put on another band aid. Hillary wants you to work and go to school. Let's tell them all student loans should be forgiven just as billions were used to bail out Corporate America and the banks. Let's make our voices heard for our children, their children and the future of America. How many students can afford to purchase a car; a home? They are burdened for the rest of their life.
Why is this important?
I care about the future of our children and their children and this country's economic survival. Without this, students will pay for 20 years and can't contribute to society.