Student Loan Forgiveness bill---Petition for it!

[Floripas]

It speaks for itself. A long shot it is indeed, but indulge a dream for a second and sign the darn thing!

"Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy. With the stroke of the President's pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy. As consumer spending increases, businesses will begin to hire, jobs will be created and a new era of innovation, entrepreneurship and prosperity will be ushered in for all. A rising tide does, in fact, lift all boats - forgiving student loan debt, rather than tax cuts for corporations, millionaires and billionaires, has a MUCH greater chance of helping to rise that tide in a MUCH shorter time-frame. The future economic success of this country is wholly dependent upon a well-educated, prosperous middle class. Instead of saddling entire generations with debt from which there is no escape, let's empower the American people to grow this economy on their own!

Therefore, we, the undersigned, strongly encourage Congress and the President to support H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus.

For over 30 years, the rich have gotten richer, the poor have gotten poorer, and the middle class is slowly but surely being squeezed out of existence. Instead of more of the same corporate welfare/"trickle-down" economics that have been an abysmal failure for the middle class, why not try a trickle-up approach to rebuilding our economy by targeting relief at those most likely to actually help grow the economy?"

Sign it here:

http://signon.org/si....fb&r_by=718406

Edited September 16, 2011 by Floripas

[msw2013]

Definitely signed!

[elsie]

Signed! I'm lucky enough not to have any student loan debt but I know so many people who would benefit from this.

[qbtacoma]

Yes, if I didn't have any debt such a weight would be lifted from my shoulders.

[juilletmercredi]

Um, as much as I would love to never pay a single penny on my student loan debt, I don't see this as tenable, nor do I see this as saving money.

In the case of Direct Loans, that money is loaned to us from the government with the expectation that it will get paid back. If they suddenly have no guarantee back on millions, potentially billions of dollars in federal loan monies - who do you think is going to cover those costs? The taxpayers, meaning us. If they exchanged this for a raised corporate tax or something then I suppose that would offset the difference, but I don't see that happening.

I don't see how forgiving the student loan debt of Americans is fiscally responsible, either, since it's essentially teaching people that they can borrow money and then simply not pay it by kicking up enough fuss...I mean, what about the next generation of borrowers?

I definitely agree with some form of student loan debt *relief* - lowering interest rates, income-based repayment, forgiveness programs for those with sustained hardships, public service forgiveness (which should be expanded!)...but outright forgiveness of ALL student loans borrowed?

[Eigen]

Um, as much as I would love to never pay a single penny on my student loan debt, I don't see this as tenable, nor do I see this as saving money.

In the case of Direct Loans, that money is loaned to us from the government with the expectation that it will get paid back. If they suddenly have no guarantee back on millions, potentially billions of dollars in federal loan monies - who do you think is going to cover those costs? The taxpayers, meaning us. If they exchanged this for a raised corporate tax or something then I suppose that would offset the difference, but I don't see that happening.

I don't see how forgiving the student loan debt of Americans is fiscally responsible, either, since it's essentially teaching people that they can borrow money and then simply not pay it by kicking up enough fuss...I mean, what about the next generation of borrowers?

I definitely agree with some form of student loan debt *relief* - lowering interest rates, income-based repayment, forgiveness programs for those with sustained hardships, public service forgiveness (which should be expanded!)...but outright forgiveness of ALL student loans borrowed?

I completely agree.