Student Loan forgiveness on loan shark forbearance practices & on high balances over $20k

Student Loan forgiveness on loan shark forbearance practices & on high balances over $20k

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Penn Peroud started this petition to The Supreme Court Of The United States and

*This petition is not to interrupt any services currently being received by borrowers or those with the intent of future borrowing.*

*This petition is for all people who owe several thousands of dollars in student loans, (whether actually borrowed or accrued in interest from deferment or daily interest pre-Covid.) We the people want more forgiveness options outside of working in public service. If a borrower owes more than 50% of their annual income, we want 50% forgiven as a relief plan. Let the schools make it mandatory that if a certain percentage of their students choose this option, then they must have a free class online or in-person of job outlook for that particular field. Schools should not be able to charge in 4 years for for the tuition than the job's annual starting salary. There needs to be more affordable repayment plans for all balances of student loans, and 100% absolute forgiveness plans on balances $20,000 and higher. 

*Student loan companies should not be able to garnish wages of a person working with a dependent or dependents living with them or a person who makes less than 50% per year of the loans that are owed, or less than $60,000 per year. 

All Americans are affected by the financial devastation of student loans. The following communities have been effected the most: middle class working families, single-parent households, individuals working on their own in all income areas, students born in the late '70s, 80s, 90's and the 2000-2001, students of all races, people from all walks of life/backgrounds. 

According to ProgressNow, "students with outstanding loan payments were 36 percent less likely to purchase a house, and other research indicates that 'those with student loan debt also are less likely to have taken out car loans. They have worse credit scores. They appear to be more likely to be living with their parents.'" (Progress Now 1). 

The success of the economy and the housing market depends on the majority of people being liberated from this financial burden. Major dollars could be repurposed into the economy and even back into tax dollars by freeing up this flow of money.

0 have signed. Let’s get to 200!
At 200 signatures, this petition is more likely to be featured in recommendations!