I just got this email. I would love for this to pass as I work for an NPO, but I have my doubts...

Rep. Karen Bass of California has just re-introduced a combination of The Student Loan Forgiveness Act with her own Graduate Success Act, calling it The Student Loan Fairness Act (H.R. 1330).

Now, we need your help! We just launched a brand new petition in favor of H.R. 1330, The Student Loan Fairness Act and we need your signature! In the 48 hours since we launched the petition, over 2,500 people have signed, merely by word-of-mouth. Imagine how successful this new petition will be if each of the 1.18 million of you were to sign on to this new petition and then share it with your friends, family, neighbors and co-workers!

The Student Loan Fairness Act is an enormously important piece of legislation. Just like last year's bill, it creates a new repayment plan called the "10-10 standard" whereby student loan borrowers who enroll in the new program will be required to repay 10% of their discretionary income for a period of 10 years, after which, the remaining amount will be forgiven! For those borrowers in certain public service careers, the repayment period will be 5 years. In addition to the provisions that were included in last year's bill, the new bill includes additional provisions dealing with periods of unemployment, limiting capitalized interest, and capping all interest rates at 3.4%!



Here is the link to the petition...

http://signon.org/sign/support-the-stud ... by=3653103

So who is going to pay off the rest of your debt?

Fuck this!

while ya kind of feel for the students who needed to do loans too many take out ridiculous amounts of student loans for things other than education.. to say just pay 10% of what you were given is stupid as well, and will only compound the issue bc if i know i can get a student loan and only need to pay 10% sign me up for $100k

part of the major problem with the united states today is no one is held accountable for their actions anymore.. there are always excuses to push the blame to someone else or it s because of this or that so its not my fault.. you sign your name on the line saying your responsible for the repayment of the loan plus the stupid high interest rates. why should your debt be passed onto someone else??

until people are held accountable for the things they do, this country will continue its downward spiral.

That's ridiculous. Student loans are some of the lowest interest loans in existence. This is simply because some kids went to college bc mom and dad made them, the graduated in sociology or communications, and are second shift managers at Starbucks. Get a real job and pay your shit off.

Student loans need to be made dischargeable in bankruptcy. Currently, if you are unable to pay your bills and file Bankruptcy, student loans must still be repaid. Some lose all hope of regaining financial health with large student loan debts. In conjunction with bankruptcy relief, tuition costs need to be controlled to make good education more affordable. The basic problem, I think, is that too many students go to college who should not and that there are too many colleges. We need to cull about 1/3, if not more, of them.

^^^^^^ Eff that! I went to school and worked 2 jobs while attending it was a struggle but im proud to say that im 31 years old and have payed back all of my student loans with out the help of any one. How do the people of this country expect to get ahedad when all anyone wants is a bail out from their debts and commitments. Pay off your own damn student loans like i did if you cant find a job maybee you shouldn't have went to colledge to study European literature or some other ridiculous artsy fartsy shit and if you were one of the fools that did pick up a shovel and get to work. You cant get a job your not qualified to do so if you didn't pick a prosperous career path and base your course of studdies on that path to qualify for a high paying job its your own damn fault and why should the rest of us americans be responsible for paying back the moneys you wasted on higher education.

for every pity party out there where some student cannot pay back loans, there are three that worked two jobs to one, not have loans, or two to limit the amount and pay them off.

At the VERY least ANY forgiven debt needs to be 1099'ed and you can pay taxes on that just like getting Credit card debt forgiven.

This is hog wash, it the government was not giving out student loans like perppermints, then those that could WOULD get a degree and it would be largely paid for.

We have to figure out a way to support GOOD decisions and stop all this second, third and fouth chance humbugg over bad decisions.

My kid is in her third year in college, she made good decisions in HS that led to financial support, she works and has time to captian the color gaurd for the band...........AND keep a 3.7........BUT she is not the hit of any party and do not see her on FB flashing imaginary gang signs while half dressed.

Good decisions.............it's the real deal.
God will only us when we honor what we have been given.

Yes...............vouchers

I don't really care what you spent your money on. You thought it was something worth going in to debt over, now YOU should have to pay it all back.

Having graduated from a BA Surveying/Engineering program and receiving no student aid or grants, I feel that if you receive those grants and do not graduate from an approved curriculum and go forth into the world using that degree that you should have to pay every cent of that money back to the government. I have watched many students flush their grants and aid down the toilet only to not graduate or to graduate with a shitty degree and never use it. I paid over 75K out of my own pocket to go to college and I have to pay it all back. I was never awarded a dime to go to college and my parents had a combined income of less than 75K/Year.

Sore subject for me....

I took out a shit ton of loans and had to repay every cent. Lower the interest to zero if that helps, but students need to repay what they borrow. If a kid goes to school for basket weaving and can't find a job.......tough shit, poor decision. Lets remember something here, IT IS A LOAN. LOANS HAVE TO BE REPAID. If you feel it is a good move to go to college, be prepared for the aftermath for Christ sake.

Jeesh, This looks just like something our Pres would back.... I'll bet the black students are the first to be forgiven their debt.

I let all of you hard working tax payers get the tab on my college education (both the undergrad and the masters in education).

I suckered all of you. All I had to do was give Uncle Sam 13 years of service and three combat deployments. Heck, I liked it so much, I have continued on for an extra 13.

Hope you all got your money’s worth out of old Ranger P.