Wednesday, April 25 was One-T day, the estimated date that student loan debt in the United States was to reach one-trillion dollars. Since 1980, the average tuition rates at colleges have gone up over 800%. As a result, student loan debt since 1999 has increased to over 500%. This is a problem that students have been fighting for years now, and finally something is in the process of being done.
The petition for the Student Loan Forgiveness Act of 2012 is quickly reaching its goal of one-million signatures, showing that Americans agree that former students deserve to be freed from this economically destructive liability. Too many people that have tried to achieve in the very least the financial stability to pay off thier loan debt and live a productive life. However, this honorable intention has been beat down by rising interest rates and fluxuating unemployment rates.
A new website has been created to keep supporters of the SLFA up to date and well informed, HR4170.com. This site has all the information you need to make a conscious decision on your stance regarding this bill.
Remember that the people with student loan debt are not just dead beats that can’t take responsibility for their actions. These are individuals who intended to become working members of society, and they are being held back by trying to balance the expense of living and paying for the loans that got them to where they are. From college professors to scientists, freelance writers to veterinarians, the demographic of those in debt is large and varied.
Check out these other sites and organizations fighting for the SLFA:
- Occupy Student Debt
- Loan Reform Now
- Forgive Student Loan Debt