The U.S. Treats Student Debt Like It Does Murder

An Open Letter from Robert Applebaum, StudentDebtCrisis.org

Did you know that, like murder and treason, there is no statute of limitations on the collections of student loan debt?

Did you know that student loans do not enjoy bankruptcy protections just like any other type of debt in America, including gambling debts?

Did you know that defaulted borrowers face the potential of having their professional licenses suspended, as well as having their wages, Social Security benefits, tax returns and other benefits garnished, without a court order?

It’s well past time we right these wrongs and that’s why Rep. Frederica Wilson (D-FL) has introduced the Student Borrowers’ Bill of Rights (H.R. 3892).

While this bill won’t completely solve the $1.2 Trillion student debt crisis, it will go a long way to restoring fairness to the student lending system.

Even if your own student loan are in good standing and you have no plans of ever filing for bankruptcy, this petition is still for you.  Help restore parity between student loan borrowers and lenders by signing the petition at MOVEON.org

Go to MoveOn’s petition page at http://petitions.moveon.org/sign/restore-basic-consumer?mailing_id=19669&source=s.icn.em.cr&amp%3Br_by=5462310&r_by=4281276

 

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