I have been following, studying, and writing about the student loan issue for many years. I can tell you, full stop, that this is a BAD LENDING issue rather than a BAD BORROWER issue.
The facts, should you care to see them, show clearly that the federal government and Congress are to blame for the inflationary, predatory, and corrupted student loan system that we now face….one that has quickly managed to burden the citizenry with well over a Trillion dollars in structurally predatory student loan debt.
This problem, despite what the army of lobbyists, and other student lending interests have told you, has its genesis with the removal of standard consumer protections from the loans (most notably, bankruptcy and statutes of limitations), and as such, the ONLY viable solution begins with the return of the same.
If you democrats actually are interested in solving this problem, you will start there. Repayment programs, refinancing schemes, and the like will ABSOLUTELY DO NOTHING TO SOLVE THIS PROBLEM!!!!
I encourage all of the freshmen democrats, and others in Congress to see http://www.studentloanjustice.org/argument.htm to understand the ACTUAL dynamics that govern this problem. We, the citizens, are counting on you, and you MUST NOT LET US DOWN.
We have, and will be flyering your offices in the immediate future. Tell your education staffers to keep an eye out for us. We stand at your beck and call to educate you with actual, provable facts, rather than the dishonorable exaggerations, omissions, and lies that the student loan industry has been inundating you people with. Bad input = bad policy. Don’t be a chumpt to the lobbyists. they lie, and we can prove it.
Contact us anytime: email@example.com (202) 594–1120.
Listen to the citizens, not the banks, and you will be doing what you were elected, BY THE PEOPLE, to do.
Alan Collinge, Studentloanjustice.Org