Sign Executive Order to PERMANENTLY Abolish All Interest Rates on Student Loans

Sign Executive Order to PERMANENTLY Abolish All Interest Rates on Student Loans

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Student loan debt is a growing problem in our country, and it is only getting worse over time. There are various ways that we can combat this issue, however, there is one major aspect of student loans that never gets addressed... the concept of interest rates on these loans. People simply don't talk about it. Graduates (old and new) don't want a handout. We don't want "free this, free that". We work hard for everything we acquire in life. But it just isn't good enough, as 44.7 million Americans are stuck in a rat race and getting trapped in the never-ending cycle of paying on accruing interest. 

I am proposing two simple, yet revolutionary ideas that could greatly combat this growing problem without impacting U.S. taxpayers. 

1.) Cancel all interest balances and abolish interest rates on all federally backed student loans. Then, negotiate with all private financial institutions to drastically lower interest rates on student loans not backed federally (1% or lower).

OR...

2.) Allocate all student loan payments towards the 'principal balance'. There is no reason why Americans should be paying towards the 'outstanding interest balance' first, rather than impacting the principal balance and causing the overall interest to decrease. It is an extortion racket that is draining more money out of hard working Americans. It is not ethically sound. 

Sign this petition and get the attention of the Executive branch. Urge POTUS to sign an executive order implementing one of these two ideas.

IT IS TIME TO CREATE STUDENT LOAN REFORMATION THE RIGHT WAY!