With the economy still reeling from the Great Recession, many Americans are scraping by on lowered wages and, sadly, lowered prospects. With everything from car notes, housing payments, food and basic necessities, asking Americans to pay on their student loans right now can be a tall order.
If you haven’t heard by now, loan debt in America has reached $1 trillion. And while bankruptcy may have been a welcomed answer for many Americans, according to current laws, many cannot receive approval for it.
In my last post, I talked with Robert Applebaum about the near 1 million signatures he’s helped to acquire to get lawmakers to further work on loan forgiveness. So, my next step was to reach out to one of the lawmakers and hear some ideas on how to get the measure passed in Congress. Here’s my exchange with Rep. Hansen Clarke, of Detroit, about the bill he’s been working on to reduce the repayment process that saddles most Americans.
NIXON: Where did the idea for this bill come from and what’s the number one thing you would like to see this bill accomplish once passed?