I originally borrowed $21,915.09 (from Sallie Mae) in 1985.
To date I have repaid $46,554.43.
I currently still owe an outstanding balance of $27,762.00.
So I will pay until I die.
My petition proposes capping student loan repayment at double what was borrowed, so since I originally borrowed $21,915.09, my petition would have enabled me to discharge the remainder of my debt as soon as I'd repaid a total of $43,830.18 (double what I'd borrowed).
Why is this important?
Currently there is no way out of student loans other than death (or hardship). I propose capping repayment at double what you borrowed. So if you've repaid what you borrowed twice over, the rest will be forgiven.
