So, the Dems in the Senate have unveiled their financial stimulus plan, and one of the cornerstones is eliminating LARGE swathes of student debt. Just saying "poof! You don't owe money any more, or you owe less! Go forth and spend that money on food and rent." And ALSO, for debt that isn't cancelled, have the government pay everyone's federal student loan payment each month, until three months after the end of the emergency declaration. It would also suspend all involuntary debt collections and wage garnishment for borrowers who have defaulted and institute a 90 day “grace period” at the end of the program, during which missed payments will not result in fees or penalties, including negative credit reporting.
Now, obviously, the Dems control the House, and the Republicans control the Senate (although hopefully that will change come November PLEASE GOD, PLEASE.) So contacting your Senators to have them vote for this is great, but it is even more important to contact your representative in the House.
And Americans for Financial reform has a handy-dandy widget to help you email them! It's quick, it's easy, it takes only a few minutes! Please do so!
Now, obviously, the Dems control the House, and the Republicans control the Senate (although hopefully that will change come November PLEASE GOD, PLEASE.) So contacting your Senators to have them vote for this is great, but it is even more important to contact your representative in the House.
And Americans for Financial reform has a handy-dandy widget to help you email them! It's quick, it's easy, it takes only a few minutes! Please do so!