130,000 Students Petition Congress Not To Double Interest Rates On Stafford Loans

Parent Cafe
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Do you have any evidence that high-wage earners were in fact defaulting at a higher rate? I think the loss of bankruptcy protection it is much more likely the result of high-priced lobbying and crony capitalism.</p>

<p>This nicely summarizes some of the current issues with student loans:
<a href=“http://www.collegescholarships.org/research/student-loan-scheme.jpg[/url]”>http://www.collegescholarships.org/research/student-loan-scheme.jpg&lt;/a&gt;&lt;/p&gt;

<p>Have you heard about the Student Loan Forgiveness Act of 2012? If a student opts in will cap loan payments to 10 years at 10% of your income above 150% of poverty level, and then forgive them. For new students the amount is capped at $45K or so.</p>

<p>[Rep</a>. Hansen Clarke introduces The Student Loan Forgiveness Act of 2012 (H.R. 4170) | Congressman Hansen Clarke](<a href=“http://hansenclarke.house.gov/press-release/rep-hansen-clarke-introduces-student-loan-forgiveness-act-2012-hr-4170]Rep”>http://hansenclarke.house.gov/press-release/rep-hansen-clarke-introduces-student-loan-forgiveness-act-2012-hr-4170)</p>

<p>Apparently there is another bill in the works to restore some basic consumer protections to student loans, like the ability to discharge some or all of them in bankruptcy.</p>