Share:

Economic Hardship Student Loan Forgiveness

Due to the current economy, student loans for people over 45 that cannot find work in their field for more than two years should be forgiven.

Due to the current economy, student loans in default by people over 45 that cannot find work in their field for more than two years should have their student loans forgiven.



Congress is well aware of the current economic factors that have States, like California, cutting their budgets by laying off or furloughing tens of thousands of American citizens. Many of those have older student loans required of their professions, like teaching, that they now cannot repay. Those over 45, that have been hit the hardest, are in the educational field.



Many of these men and women have served our country and communities for many years; only to wake up and find their jobs gone along with their health coverage, and their homes on the brink of foreclosure. Forgiving these old student loans would add relief to those currently unemployed and unlikely to be re-employed due to age or in their current professions.



Congress should support this position with a system of a case by case review of student loans government backed or held for those over 45 that are unemployed and unlikely to be re-employed in their field.