Support The Student Loan Forgiveness Act of 2012
By Robert Applebaum (Contact)

To be delivered to: Rep. John Kline (MN-2), The United States House of Representatives, The United States Senate, and President Barack Obama

Since 1980, average tuition for a 4-year college education has increased an astounding 827%.

Since 1999, average student loan debt has increased by a shameful 511%.

In 2010, total outstanding student loan debt exceeded total outstanding credit card debt in America for the first time ever.

In 2012, total outstanding student loan debt is expected to exceed $1 Trillion.

In short, student loan debt has become the latest financial crisis in America and, if we do absolutely nothing, the entire economy will eventually come crashing down again, just as it did when the housing bubble popped. Reasonable minds can disagree as to the solutions, they cannot, however, disagree on the existence of this ever-growing crisis, as well as the unsustainable course we're on towards financial oblivion.

As a result of more than 30 years of treating higher education as an individual commodity, rather than a public good and an investment in our collective future, those buried under the weight of their student loan debt are not buying homes or cars, not starting businesses or families, and they're not investing, inventing, innovating or otherwise engaged in any of the economically stimulative activities that we need all Americans to be engaged in if we're ever to dig ourselves out of the giant hole created by the greed of those at the very top.

Now for the good news: there's finally hope on the horizon!

Representative Hansen Clarke of Michigan has just introduced H.R. 4170, The Student Loan Forgiveness Act of 2012, in the House of Representatives - legislation designed to lend a helping hand to those struggling under massive amounts of student loan debt.

For a brief summary of H.R. 4170's main provisions, please copy & paste this URL into your browser: http://tinyurl.com/7akydbk

To read the full version of the actual bill itself, please go here: http://tinyurl.com/6txure8

As a student looking at debt and lack of future employment I support this.

Students signed a PROMISSARY note that said if the government loaned them the money they would have to pay it back. The government loaned them the money and now they are whining about paying it back? No one held a gun to their head and forced them to sign. They should keep their promises. They should pay back the loans and STFU!

No, they shouldn't STFU! That was a stupid statement, they economy sucks and with people looking at graduation during a time when career opportunities are slim they need help with the loans.

agreed, while i feel they/we should pay it back, there should be some forgiveness toward when and how soon it should be payed back... in other words, i do not think it should ever be a negative on our credit reports....

Bored06 pretty much covered what i would've typed

Evidently you never went to college . . . only a person with a very narrow minded and black and white view of the world would think that. Whining? When you have a choice between keeping your electric on and paying a loan bill, lets see what you choose.

I don't like charity but there is a limit to what one can do. Its as if this person is suggesting everybody should just settle and work at McDonalds or something.

I didn't read the bill but from the title it sounds like student loans should just be gone. That I don't agree with. I do believe they should be put on hold or allow the students to pay it back when they can without penalty.
But if they are just gonna wipe the slate clean I would like to be reimbursed for mine.

Personally I think that education should be free to U.S. citizens from K through your Bachelors degree. once your 18 you should be required as you are now to maintain a certain GPA and once you've gotten your degree if you wish to continue onto a Masters and or a Doctorate then that should be covered as well. Of all things NOT to mess with education is #1 in my book.

i thought it was only free for non-citizens...

But if everyone has a Bachelors degree who's gonna flip burgers and dig ditches?

Not everyone would attempt a degree and not everyone who does will finish it.

I think thats a bit simpler than the total picture

do we want education to be just about the money or are we trying to invest in productive citizenship

if all we want is money, we set up those students to be unproductive because the 'education' they pay for ends up in too many cases being useless to them when it doesnt result in a subsequent means of productivity (career, job)

without a job, they dont gain experience, without experience noone hires them for a job

continuing to throw money at kids just to occupy buildings we also throw money at isnt working too well in my opinion

investing in the community and the kids by paying for productivity instead, makes more sense

its not much different than paying them for a job, instead of receiving the money from them directly,, they contribute and 'earn' the money they were given so there is no need to pay it back and they get real experience from which potential employers can pool,,,,