Share:

Requesting cosponsors for HR 3451: The Student Loan Bankruptcy Parity Act of 2015

Messages Sent So Far
When the founding fathers wrote the Constitution, they felt so strongly about the need for bankruptcy rights that they listed the creation of a "uniform system of bankruptcies" ahead of the congressional powers to declare war, coin currency, raise an army and a navy.

Yet, Congress has uniquely and without basis stripped this constitutionally mandated right from lower and middle income people who go to college. The harm that this has done to the nation is incalculable. Unchecked predatory lending, Astonishingly harmful governmental profiteering, inflation in the price of college, corruptions across higher education, perverted fiscal incentives to default student loan borrowers, and a myriad of other effects are due in large part to the removal of standard bankruptcy protections from both federal and private loans.

This is not defensible or tolerable, and must end. Congress must pass this legislation, and reaffirm to working people that the "invisible hand" of free market economics can and should work for everyone, not just the wealthy. Congress must take a stand against this government sponsored, predatory lending system by returning the standard bankruptcy protections that should never have been taken away if we are to see a stabilization of this lending system, which now teeters on the brink of illegitimacy.

Please see http://www.studentloanjustice.org/argument.htm to understand this problem more fully. Join our facebook group to help us promote this critically important legislation ( http://www.facebook.com/groups/sljgroup ).

Post Public Comments

Public Comments (779)
Feb 3rd, 2017
Rhondaann S. from BALTIMORE, MD signed.
Jan 22nd, 2017
Pauline A. from Loveland, CO signed.
Nov 1st, 2016
John B. from Las Vegas, NV signed.
Oct 28th, 2016
Zachary M. from Aurora, CO writes:
Quotation mark icon
Anyone who hasn't secured employment in their area of study for a duration exceeding one year or longer in in the first three years after graduation from college, should be allowed to have student loan debt waived, especially if that individual or family earns less than $125,000 yearly. Also, if someone applies for and is approved to receive social security benefits, their student loan arrears need to be cleared entirely.
Oct 5th, 2016
Laura C. from Cle Elum, WA writes:
Quotation mark icon
I am a SLAVE to my student loan lenders!
Sep 6th, 2016
Someone from Houston, TX signed.
Sep 3rd, 2016
Someone from Brooklyn, NY signed.
Jul 9th, 2016
Someone from Cincinnati, OH writes:
Quotation mark icon
Many need help and the government needs to rethink private student loans. So many people work hard for a education only to end up drowning in debt when the job their degree affords them doesn't make it feasable to pay loans that seem to never get paid off. I hope congress will finally fix this issue that leaves people no way out.
Jul 3rd, 2016
Someone from Moraga, CA signed.
May 18th, 2016
Someone from Lincoln, NE writes:
Quotation mark icon
Long overdue. the ruining of lives by fiscal indentured servitude needs to stop.Sallie mae and her crooked ILK need to apply payments to principle not excessive interest and fees. Students want thier hard earned money paying off principle not making some overpaid sallY may executive a millionaire