CUT Student Debt- CAP Tuition and BALANCE the HOME budget first! FORGIVE Student Loan Debt.
  • Petitioned Congress

This petition was delivered to:

Congress
President

CUT Student Debt- CAP Tuition and BALANCE the HOME budget first! FORGIVE Student Loan Debt.

    1. karen Lee
    2. Petition by

      karen Lee

      Springfield, MA

Help resolve our National Debt Crisis:

CUT Student Loan Interest CAP Tuition to BALANCE the HOME Budget:

SIMPLE OVERVIEW: Our “Cut Cap and Balance” Version.

Participants:

-Government

-Holders of a Student Loan

CUT  and/or retire student loan interest. This “Shared Sacrifice” will:

1) Help reduce our National Debt.

2) Provide a New Revenue Source.*

3) Inject money into a sluggish economy that will impact each market.

Action: The Government resets the interest rate on all Student Loans to zero percent and backdates the amount due to the original principal.

*The Holders/Citizens receive a 1099 for the forgiven interest to file with their tax return (subject to a capped amount)- providing NEW INCOME to the government

Result:

1) The government has a new cash flow.

2) The government will make millions of people very happy.

3) People become empowered, take risks again and spend in the marketplace.

If you want to examine the details of Cut Cap and Balance Our Debt, continue reading. If not, thank you for signing!

In the meantime Please support : Restore Fairness in Student Lending Bills H.R. 2028 and S.1102.

Tell Congress to restore the consumer protections on student loans.

Visit: on Facebook and please join this very active group! ForgiveStudentLoanDebt.com _____________________________________________________________

Student Loan Interest CAP Tuition to BALANCE the HOME Budget: Ths is not a one time stimulus check that will result in only a blip in the economy. This proposal will free up REAL MONEY. Disposal income for a new home purchase, furniture, consumer goods and result in more property tax payers. The housing market begins to pick up, people start opening up new business and are suddenly empowered.

Forgive Student Loan Debt.

New money goes into the economy and into the government coffers. If you are in earnest Mr. Obama, and want the “most educated country in the world by 2020” - it will be a hollow victory if all we have are educated people in debt. The country will remain sluggish.

The student lending program is in critical condition and is threatening our entire economy and it must be addressed soon. Removing the interest on outstanding student loans is a start but other actions like the below will begin to repair the problem.

Ask Congress to pass legislation that will:

A) CUT interest of all student loans at 0-1% (Charge a fee of $25 if payment is late)

B) No capitalized student interest AND eliminate loan reassignment

C) Allow both private and federal loans to be discharged in bankruptcy

D) Restore the statue of limitations on collecting private and federal student loans

E) Repeal the decision that allows for Social Security to be offset for non-payment of a federal student loan. That is just disgraceful. (see LOCKHART V. UNITED STATES)

 F) CAP the amount of tuition relative to the earning power of a degree/economic forces and crack down on the for-profit schools greed machine. Their greed is significantly responsible for the 900% increase in college tuitions. In addition, students must take out increasingly more private loans to cover an artificially inflated tuition.

Shared Sacrifice is the buzz word. Yes. The Government must share in resolving the debt crisis too by retiring interest and debt for its citizens and not by bailing out the banks or others in the same manner.

Invest in your people.

BALANCE the HOME Budget. FORGIVE Student loan debt.

Put the money back into your citizens hands and just maybe we'll have a surplus in our coffers. Believe in US.

Thank you

 

To:
Congress
President
I just signed the following petition addressed to: president.

----------------
Ask Congress to resolve our National Debt by retiring the interest on all Student Loans.

This action will reduce our national debt, provide revenue as the forgiven interest may be a taxable event and inject money into a sluggish marketplace.
----------------

Sincerely,

Sincerely,
[Your name]

Recent signatures

    News

    1. Reached 500 signatures
    2. Please pass this petition forward.

      karen Lee
      Petition Organizer

      Click on the "Share this Petition" on your FB and Twitter home page. Thank you.

    3. If you're serious about this issue-contact the Senate

      karen Lee
      Petition Organizer

      Please look at the names of the House and Senate budget committees and determine if your State Senator or Congressman are on the Budget Committee. If so, please cut and paste the petition with a personal note and mail. Thank you.

    4. If you're serious about this issue-contact the House

      karen Lee
      Petition Organizer

      Please look at the names of the House and Senate budget committees and determine if your State Senator or Congressman are on the Budget Committee. If so, please cut and paste the petition with a personal note and mail. Thank you.

    5. Reached 50 signatures

    Supporters

    Reasons for signing

    • Lulu Stroud-Johnson PORTLAND, OR
      • over 2 years ago

      Stop Without Cause Evictions of Section 8 Renters

      Single, Black. Low-Income Senior Citizen With Disabled Daughter Facing No-Cause Eviction From Home Continually Rented By Them For More Than 28 Years Under Section 8 Program

      23 June 2012 - 3AM

      Right now I am feeling drained and more or less discombobulated. I am a 65 year old single, low-income, Black woman with a disabled daughter. We have lived in this house at 5826 NE 15th Avenue in Portland, Oregon continually for more than 28 years under HUD’s Section 8 rental assistance program. Section 8 pays a portion of the rent and I pay the remaining $321 rent per month plus utilities. My primary income is Social Security -- roughly $700 monthly. My daughter lives with me and I take care of her. I am paid approximately $180 per month as my daughter’s Personal Care Attendant.

      This week my home was sold to a new owner and yesterday I was served with a 60 day No Cause Eviction notice. Eviction papers indicate that the new owner intends to renovate this house and re-rent it at a higher rate following the renovation. The papers I have received name a Marisa O. Gholson as the new owner. I have never met her to my knowledge. A business decision -- a business decision. ‘Urban renewal - Black removal’.

      The human toll of this ‘business decision’ has sent my internal emotions spiraling. How do I find a new place for us? Where do I get the money needed to effectuate such a monumental move after 28 plus years? Where do I begin my search -- Craigslist has been suggested and I will search Craigslist during this journey. What do I do with all of the things we have accumulated over the years? Again, Craigslist has been suggested….

      In the end, what will happen? I have been told that all of the expenses and efforts to find a place and in relocating and physically moving are mine to bare. What will happen? Time will tell…. In the meantime, I have shared our story with you. I am Lulu R. Johnson and you can reach me at: BlackParentSpeaks@juno.com

      http://www.change.org/petitions/hud-officials-and-people-everywhere-stop-without-cause-evictions-of-section-8-renters

      REPORT THIS COMMENT:
    • Jessica Hopkins SALEM, OR
      • over 2 years ago

      Standard consumer protections need to be restored to these predatory loans!

      REPORT THIS COMMENT:
    • Ariadna Val MIAMI, FL
      • over 2 years ago

      Because I cannot afford attending the college that would ultimately benefit me in life without taking out loans, other people that may possibly be less qualified than I am but can fork over the right amount of money are given a chance at progressing in life. I don't think that's fair...

      REPORT THIS COMMENT:
    • Thomas Martin PELHAM, NY
      • over 2 years ago

      This seems to be one of the most obvious and inexplicably overlooked opportunities for fiscal stimulus. I'd also suggest scaling forgiveness to age of loans to abate potential moral hazard concerns - 100% forgiveness for loans 15 years or more, 80% for loans 10-15 years, etc. and beef up existing volunteer and public service incentives for recent graduates.

      REPORT THIS COMMENT:
    • Russell Campbell SANTA CRUZ, CA
      • over 2 years ago

      I agree that student loan interest needs to be capped and other changes need to be made, but student loans should and hopefully will never be dischargeable through bankruptcy, I am a student and I think it would be very unfair to people who have large student loan debt to file bankruptcy on these loans, once a person files bankruptcy, getting credit is very easy, it is NOT as people think, the lenders KNOW that a person cannot declare bankruptcy for another 7 to 10 years, so credit is granted, I know I have been there, but if student loans are dischargeable by bankruptcy every doctor, lawyer, and any one who really understands bankruptcy will be filling and not only will our courts be clogged with cases, too much money will be hidden in the names of spouses and others who don't have student loans, so I hate to say it, I hope parts of this petition will never happen, and I am sure they won't, the lawmakers know how things work, which is not as this petition writer claims

      REPORT THIS COMMENT:

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