America has over $1 trillion of outstanding student debt. Over the last 30 years, the cost of college has skyrocketed, increasing by over 800 percent! In these tough economic times many are wondering how to balance the monstrous debt they have accrued while they struggle to find a job.
Despite the billions of dollars the federal government gives in student aid, many Americans are stillburied in loans a decade after graduating from college. Rep. Joseph Kline of Minnesota has proposed the Student Loan Forgiveness Act, legislation designed to help people who are struggling under massive amounts of student loan debt. The way it works is simple: If you make payments equal to 10 percent of your discretionary income for 10 years, your remaining federal student loan debt is assumed by the government.
Already more than 1.1 million people have signed the petition. Take action to forgive federal student loans by adding your name today!
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For a brief summary of H.R. 4170's main provisions, go here.To read the full version of the actual bill itself, please go here. To read answers to some of the most frequently asked questions about the Student Loan Forgiveness Act of 2012, please go here.