The United States is facing a student debt crisis, with over 45 million Americans owing more than $1.75 trillion in student loans. At the end of 2022 the average student loan debt was $37,574. 

     Getting a college degree has become increasingly important financially, so not attending college is out of the question for many. College graduates earn 80% more on average than those with just a high school diploma.

     Student debt has long-term effects on families, including the inability to buy a home or financial challenges with starting a family. It limits consumer spending and hinders economic growth.

     The Student Loan Reform Act of 2022, introduced by Arkansas Senator Tom Cotton, holds colleges accountable for high tuition by enacting new taxes on these colleges and universities. 

     We call on Congress to prioritize the passage of the Student Loan Reform Act of 2022 to take action toward addressing the student debt crisis in our country. Higher education should be more affordable for all Americans regardless of their socioeconomic status or background.

     All 45 million Americans with student debt, as well as everyone attending a college in the United States, would benefit from this bill. Show your support by signing this petition!

Sources:

https://www.bestcolleges.com/research/average-student-loan-debt/#:~:text=Data%20Summary​

https://www.cnbc.com/2020/06/12/how-student-debt-became-a-1point6-trillion-crisis.html​

https://www.govtrack.us/congress/bills/117/s4897/summary