CUT Student Debt- CAP Tuition and BALANCE the HOME budget first! FORGIVE Student Loan Debt.
This petition had 561 supporters
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.
-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
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.
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