If you have or will have student loans, you need to read this.
Something potentially life-changing for millions of people has happened.
On March 8, 2012, Rep. Hansen Clarke introduced H.R. 4170, the Student Loan Forgiveness Act of 2012. This act proposes that people with federal student loan debt pay 10% of their discretionary income for a period of 10 years, and then the rest of the debt would be forgiven. I’m not clear on the details, but I’m also hearing that somehow it proposes to roll private debt into federal debt so it would apply, too.
Student loan debt is financially crippling millions of people and having negative effects on the economic recovery efforts.
Suze Ormond gives a very good explanation here of why student loan debt is contributing to the economic crisis in America. Not to mention the personal cost for young people trying to start out in life with the double whammy of a poor economy and serious loan debt. What’s even less certain is how this will affect Americans for generations to come, with some calling young Americans “The New Lost Generation.”
When you can barely afford to pay your loans, you aren’t buying cars. You aren’t buying houses. You aren’t spending a lot of money on consumer items or vacations. You’re trying to scrape up enough money to pay that bill so Sallie Mae will stop sending you threatening letters.
Think what would happen if suddenly, all of the people sending most of their paychecks to student loan companies had hundreds of dollars more to spend on other things.
- Think how many people would move out of their family home and get a place of their own.
- Think how many people would buy a car.
- Think how many couples would decide to get married.
- Think how many people would be able to start saving for retirement, or be able to afford health insurance.
- Think how many people would buy clothes, shoes, electronics, or better-quality food.
- Think how many people would stop considering suicide as the only way out of an apparently impossible financial crisis.
- And now think how all that money flooding into the economy would improve things in America.This is one economic problem that is not going to get better over time without action. It’s actually getting worse. It’s not only students themselves suffering. With nowhere else to go, many have moved back in with families and are relying on family support. That’s making it very hard for their parents to retire.
To date, the government has done little to nothing to help out people with existing student debt, despite economists screaming from the rooftops that student loans are a bubble about to burst and when it does, it could tip the country right back into another full-blown recession or even depression. At the very least, it’s likely hampering efforts to get the economy back on track.
It’s telling when you consider where the government chooses to help. The government bailed out the banks. It bailed out the auto industry. It put in place measures to help people facing foreclosure. It’s looking at addressing credit card rules. But what has it done to help people with student loans, which – again – is now a larger problem than credit card debt?
This is a groundbreaking measure and it needs people to get behind it immediately and show their support, to let Congress know what such a relief could mean to a generation of young people struggling under a mountain of debt unlike anything our country has seen before.
I fully support The Student Loan Forgiveness Act of 2012 as a way to help stimulate the economy, remove a financial and emotional burden from millions of people, and help pull the country out of the sinkhole it entered nearly four years ago.
The Student Loan Forgiveness Act of 2012 will stop the bleeding. We need other things to happen, too.
- We need representatives to call for student loan reforms to stop the problem for future generations.
- We need representatives to call for colleges and universities to bring down tuition for current and future students.
- We need representatives to support community and technical colleges.
- We need to change the tenor of conversation about higher education in America.
- We need media to start asking the hard questions about why this happened in the first place.
But first, we have to put a tourniquet on the debt that is bleeding Americans dry.
If you support this bill, contact your representatives and senators and tell them so immediately. Call them. Email them. Write letters.
For more information, check out http://forgivestudentloandebt.com/
You can track the bill through GovTrack here.
Sign the petition here!
And SPREAD THE WORD!
What every traditional, real American family should look like :)
COOL!!! Now let me add in some other examples of what a healthy, happy, traditional, real American family should BE ABLE to look like:
Mexican and South American families
Middle Eastern families
East Asian families
South Asian families
Native American families
Interracial families of all colors
Atheist or agnostic families
Single mother families
Single father families
Grandparents raising a family
Gay parent families
Lesbian parent families
Transgender parent families
Families with special needs children
Families with disabled children
Families with disabled parents
Families with deaf/hard of hearing parents, deaf/hard of hearing children, or both
Awwww, aren’t they all adorable? :3
I know I probably left a lot of folks out, so feel free to add pictures of what a good, happy, true American family can be! Remember they come in all shapes, sizes, colors, ages, genders, religions, races, cultures, nationalities, sexualities, and appearances, so don’t leave anyone out! Especially when you VOTE. The only thing that defines what makes a family is love. <3
My, isn’t America wonderful~?
EDIT: And you know, I just wanted to add…you can send Rick Santorum and the rest of the country, even the rest of the world, the message that these families and other families that went unmentioned matter TOO, NOT just white, conservative, Christian, straight-parent, double-parent, rich, privileged families like his. Let him and the country know that ALL families have a say, ALL families are what define America, ALL families are what make this nation strong, ALL families matter, ALL families are important, and that ALL families deserve a CHANCE.
Let Rick Santorum know that OUR children deserve the chance to go to college, NOT just his.
Let Rick Santorum know that OUR children deserve to marry whoever they want, NOT just his.
Let Rick Santorum know that WE deserve to marry whoever we fall in love with, NOT just him and his wife Karen.
Let Rick Santorum know that OUR wives and girlfriends deserve to have life-saving abortions/miscarriages/whatever he chooses to call it, NOT just his.
Let Rick Santorum know that OUR special needs and disabled children deserve to have money that can help improve their lives, NOT just his daughter.
Let Rick Santorum know that threatening OUR families will NOT be tolerated, and that WE are the ones who believe in what America TRULY is, a place where ANY family can be free and happy.
Let Rick Santorum know that his family will NOT become the royal figureheads of a medieval theocracy where church and state are bound as one.
Let Rick Santorum know that marriage is as old as humanity and that HIS religion did NOT invent the concept and he can NOT force his definition of it on us.
Let Rick Santorum know that OUR women matter, OUR women should have a say over their own bodies, and that OUR women deserve to be LOVED in any way we see fit.
Let Rick Santorum know that OUR families deserve medical help, OUR parents deserve fair wages and fair pay, OUR parents deserve places in the work force, that OUR single mothers and single fathers and disabled parents are not to be shut out by greedy executives and CEOs who only seek to expand their own paycheck and give NOTHING back to their own employees or society at large.
Let Rick Santorum know that he is WRONG for excluding OUR families, that he is a BIGOT no matter how hard he tries to deny it, and that without OUR families working and toiling away beneath families like his, America would NOT be the rich and powerful country it is today.
Let Rick Santorum know that WE are America and that WE DON’T WANT HIM.
VOTE AGAINST SANTORUM AND OTHER HATEFUL MEN LIKE HIM.
A VOTE AGAINST THEM IS A VOTE FOR FAMILY IN ALL OF ITS FORMS.
A VOTE AGAINST THEM IS A VOTE FOR WHAT AMERICA REALLY IS: A LAND OF THE FREE, A LAND OF HARD-WORKING FAMILIES, A LAND OF EQUAL OPPORTUNITY, A LAND OF FAIR PLAY AND ASSISTING THOSE IN NEED, A LAND THAT DOES NOT SHUT OUT ITS POOR AND DENIES ITS CITIZENS THEIR RIGHTS, A LAND THAT DOES NOT LET BIGOTS LIKE RICK SANTORUM INTO THE WHITE HOUSE.
FAMILIES ARE PEOPLE, NOT CORPORATIONS.
FAMILIES ARE PEOPLE, NOT THEOCRACIES.
FAMILIES ARE PEOPLE, NOT RICK SANTORUM.
KONY 2012 is a film and campaign by Invisible Children that aims to make Joseph Kony famous, not to celebrate him, but to raise support for his arrest and set a precedent for international justice.
Highly recommend watching this video:
Re-blog to raise awareness!
How Rich is The Super Rich?
Monty Python Communist Quiz sketch
pretty witty <3
Howard Zinn on Capitalism and Socialism
Dave Zirin interviews Howard Zinn at the University of Chicago in November of 2009. A great commentary about the failures of capitalism.