OK, so a while ago while searching for ways to escape my mounting student loan debt, I came across this site:
http://www.forgivestudentloandebt.com/
Apparently, there is a movement afoot to petition Congress and the current Administration to "Forgive Student Loan Debt to Stimulate the Economy." Honestly, it makes a lot of sense. If the graduates had more money to spend, we would buy more, and not be hounded by collectors and creditors every morning at 5 AM.
I haven't scanned it for a while, but I decided to log on today. To my surprise, there are TWO pieces of legislation out there to add private student loans BACK into the current bankruptcy law. The Senate bill has just been passed out of subcommittee and sent to full committee. Promising, for sure.
For more information, I checked out OpenCongress.org and looked up:
Senate Bill S.3219 - Fairness for Struggling Students Act of 2010
House Bill H.R.5043 - Private Student Loan Bankruptcy Fairness Act of 2010
Look them up, and contact your Congressional representatives (both sides; House and Senate) to help include student loans under the Big Black Wedge.
2 comments:
Both bills have now passed from subcommittee to full committee.
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