The Student Loan Justice Political Action Committee
http://www.studentloanjustice.org/problem.htmThe Student Loan Justice PAC was formed in December, 2006. The PAC has the potential to be a counterweight to the big lenders on Capitol Hill, who regularly donate millions of dollars every election cycle to our elected officials. With the new Congress, we have a unique opportunity to get real justice- for the first time in years- for our loans. The Student Loan Justice PAC will be an instrumental element in this fight, but only with your support.
Our agenda:
1. Pass legislation that returns standard consumer protections, including full bankruptcy protections, statutes of limitations, and refinancing rights to all student loans- both public, and private.
2. Pass legislation that allows borrowers in default for 5 years or more to repay what they originally borrowed, plus a reasonable amount of interest OR repay the amount that the federal government paid for the loan guaranty on the loans (this typically includes principle, interest, and a large profit for the lenders) AND pass legislation that establishes long-term_repayment caps that define the maximum amount that can be collected from borrowers over 10, 15, 20, 25 year time periods based on the original amount of the loan(s).
3. End the Department of Education practice of Disability and Social Security garnishment, and end the practice of suspending professional licenses of citizens for defaulted student loan debt.
.......
I don't know about you but I really tried to repay our Student Loans but today I received a bill with an $80 late fee charge for 1 month of being behind from Sallie Mae! Come on! What the Hell is going on? We can bail out the $$$$ Banks but we can't get rid of this exorbitant fees charged by the Student Loan Rip-Offs?
I encourage anyone with a Student Loan to get involved!
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