If you haven’t signed the petition yet, do. See below. Notice that it’s almost got the required 500,000 signatures already. Are we surprised?
Here’s an excerpt from Suze Orman, writing in Huffpost, on October 11: “Occupy Wall Street” — Approved!:
“And in my opinion there is no greater example of Washington politicians and K Street lobbyists working against our future prosperity than in the treatment of student loan debt. To be clear, this problem existed even before the crisis; families have been taking on crushing debt to help the kids get ahead for a few decades, as the cost of school has far outpaced inflation. It’s just come to a painful head now: graduates with no jobs, or low paying jobs are justifiably panicked that they will never be able to get the loans paid off. Meanwhile, many well-meaning parents who only wanted to help their kids by taking out loans for college, are now laid off, or in new jobs that pay less. Yet where’s the relief for these borrowers, who took out loans so their kids could compete in the workplace, or better yet, we collectively could compete in the global marketplace? Far from relief, here’s what we have: a bankruptcy system that does not allow student loans to be discharged. Many other debts can be discharged, but not student loans. Look, we want a society where everyone strives to repay their debts. That’s clear. But to single out education loans as the one type of debt that our system specifically prohibits from standard bankruptcy is flat-out wrong. We bail out the banks, but offer nothing to American families that borrowed to become more educated and competitive?”
Want a Real Economic Stimulus and Jobs Plan? Forgive Student Loan Debt!
By Robert Applebaum (Contact)
To be delivered to: The United States House of Representatives, The United States Senate and President Barack Obama
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?
There are currently 578,544 signatures