Higher education is essential to maintaining a competitive society that is to thrive in a global economy, but unfortunately the cost of college in America has been skyrocketing out of control. In fact, as of late 2011, it is estimated that US citizens carry over $1,000,000,000,000 in student loan debt. That is a gigantic burden that will need to be repaid by our nation's youth, all while having to battle stagnant wage growth, high unemployment, and strong emerging global competitors.
Sign this petition and ask that the United States government allow American citizens to repay student loans with income earned, pre-tax, up to $600 per month, per debtor.
Why?
A pre-tax student loan repayment program will serve as a benefit to all parties involved in the student loan.
Creditors will see lower rates of default and deferment.
Debtors will have more disposable income in their pockets after their monthly loan payment, making the necessities of life more affordable, and the ability to invest meaningfully in our economy more achievable.
This is a proposal that both the LEFT and the RIGHT can agree on.
Please sign and pass along if you would like the American government to allow pre-tax student loan repayment.
Thank you for your time.
