Forgive Us Our Student Loan Debts?

| June 8, 2012 | 0 Comments

March 8, U.S. Rep. Hansen Clarke proposed theStudent Loan Forgiveness Act of 2012 (H.R. 4170). In making a case for the bill, he observed that the unemployment rate for college graduates was 9.1 percent in 2011, and that Americans’ outstanding student loan debt obligations now exceed $1 trillion.

The bill aims “to increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on federal student loans, and refinancing opportunities for private borrowers, and for other purposes.” Clarke argues that higher education should be seen as a public good, but the resulting student loan debt borne by many graduates negatively affects the nation’s economy…

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Category: #OccupyColleges, Education, HIgher Education, Huffington Post, Loan Reform, Occupy Colleges, Occupy Student Debt Campaign

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