Alan Collinge of the Student Loan Justice Org. has a petition promoting the cancellation of Student Loan Debt. When Angry Bear ran (April 1) his commentary on Student Loan Debt asking for signatures, there were 161,000 signatures on the petition. A couple of days later, the number of signatures was approaching 200,000 Today, I was advised, they now have 211,000 signatures.
If the Fed will be supporting the asset-backed markets, the primary corporate bond markets, the secondary corporate bond markets. The Fed will also purchase of Treasuries, mortgage backed securities in vast amounts. Fannie Mae and Freddie Mac also made some announcements. There were also rumors of a special carve-out just for Boeing and GE even though Boeing refusing to give an ownership stake to the Fed. At the least, the Fed could discount the price paid and sell back at market.
The issue for Alan, the Student Loan Justice Org, and its members is; why not bail out people with excessive student loan debt much of which is the result of interest from forbearance, penalties, etc.?
The student loan justice.org is needs your help by your signing the “President Trump: Cancel Student Loans NOW“ petition. Please join student loan justice.org and the 211,000 (up from 161,000) signers of the petition calling for President Trump to prioritize canceling student loan debt. Doing such would cause many citizens burdened with debt to be more productive promoting economic growth.
Angry Bear has posted Alan’s words over the years on Student Loans and the resulting Student Loan debt to which there is no bankruptcy relief; the same relief our president has enjoyed multiple times, also abused by corporations who gambled on Wall Street, and used in every day by businesses, unions, and ordinary citizens caught up in bad economies. There is a large economic potential benefit to freeing them from the loan debt so as to be more productive.
Read the petition and if you can spare a signature, please add your name.