Student Loan Fairness Act

In this economy, one in two college students with bachelor degrees will not have jobs, or will be underemployed by the time they graduate college. Many students pay for their own education, and often take out student loans to pay for their college education because in this economy, college is worth it. However, many of these loans cannot be deferred after graduation, and many struggle to find money to pay back, especially if they do not have a job or are underemployed. With your signature, you’ll help support the US Fairness Loan Act, which is a program set up to fix the student loan debt. The Student Loan Act will address the issue in the following ways: 1. The individual would be required to make 10 years of payments, at 10% of their income, after which their remaining debt would be forgiven 2. Permanently cap interest rate for federal student loans at 3.4%, to prevent rates from doubling This act would help students ultimately pay off their student loans, and have the luxuries that every American citizen is entitled to: the ability on purchasing a home, starting a business or making smart investments. The student loan debt has surpassed the $1 trillion dollar mark, and continues to grow every day. This is a major issue in the United States, and this act could help our economy as well as our generation. Thank you!

Links

http://bass.house.gov/press-release/rep-karen-bass-introduces-student-loan-fairness-act-2013


http://www.youtube.com/watch?v=4sbBTyxNOMc    

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