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Lochlan
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This was forwarded to me by a friend and thought some LSTers may find it helpful:

Subject: Want a Real Economic Stimulus and Jobs Plan? Forgive Student Loan Debt!

Hi,

I signed a petition to The United States House of Representatives, The United States Senate and President Barack Obama, which says:

"Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy. With the stroke of the President's pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy. As consumer spending increases, businesses will begin to hire, jobs will be created and a new era of innovation, entrepreneurship and prosperity will be ushered in for all.

Therefore, we, the undersigned, strongly encourage Congress and the President to support H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus."

Will you sign this petition? Click here:

SignOn.org Beta

Thanks!

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  • 2 weeks later...

While I agree that the demographic of college students (and graduates under the burden of loans) are the biggest spenders, I think this petition, if passed would cause some serious issues. One issues that would arise if passes would be, who would pay the loans? If you are like me, you didn't have the ability to use only government loans, so the private banks would have to eat the coast of those loans as well? Another issue would be, what about current students? Would this make college free for all students? If you eradicated all previous student debt, essentially I attended school for free. A big force against this would be the people (usually parents) that paid for there children to go to school in cash. In their eyes they paid their children's tuition in full, but millions of others who racked up debt suddenly get to be alleviate of financial burden. In the attempt to understand any complex issue such as this you must place yourself in the shoes of every party affected by the situation. While I personally would love for my large dept to go away (my sister is also paying a four-figure a month loan payment), I think it would never pass simply due to every situation being different.

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