Should All Student Loans be Forgiven?

September 24th, 2011 Kathryn Evans No Comments »

Applebaums website forgivestudentloandebt is dedicated to providing information about this idea and inspiring people to join the movement. The thought behind this grassroots movement is to stimulate the economy by allowing people to spend more money, rather than using it to solely pay off debt. Heres some background straight from the source:

ForgiveStudentLoanDebt is a grassroots movement that began as a proposal authored by Founder, Robert Applebaum, entitled Forgive Student Loan Debt to Stimulate the Economy  which he posted to a Facebook group by the same name in late January, 2009… ForgiveStudentLoanDebt was founded so as to take this growing grassroots movement to the next level through lobbying, education and advocacy for aplete overhaul to the way higher education is financed in this country.

Congressman Clarkes bill has the same goal. The short version is that this bill seeks to eliminate personal finance burdens of Americans in order to stimulate the economy by alleviating debt. This not only includes student loans, but mortgages and other types of personal loans as well. To read the full bill text, .

While Student Loan Forgiveness is not a new idea, the wide-spread, federal implementation of it has been called an idealistic and unlikely approach to stimulating the economy. However, individuals wishing to support this movement can sign the petition at SignOn.org. Whether you support or oppose this idea, change can not be effected without your input; write to your congressperson to voice your opinion on this issue!

To learn more about other forgiveness and repayment options, visit StudentLoanNetwork.

And dont forget to let us know what you think. Does this bill seem reasonable? Do you think it will or will not work? Leave ament below to share your thoughts!

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