The banks, Wall Street, the auto industry, and many who purchased homes who shouldn't of are being bailed out, so why not students? Robert Applebaum, "a New York lawyer, started a Facebook group on Jan. 29, more than 156,000 people have joined and 40,000 have signed a petition intended to be sent to Congress. Applebaum, who owes about $96,000 on law school loans, has become a full-time spokesman for the cause" (Baltimore Sun).
Applebaum estimates that over $600 billion is held in private and public debt of student loans in this country. Which is far less than the trillions used to bail out the banks.
Some argue if your going to forgive student loans, why not car loans, credit cards, etc. However, comparing some person who reckless spends money at the mall to a student trying to better themselves, hardly seems a fair comparison. Nor are people who purchase cars or other items with their credit cards burdened by loans that last over 20 years, and which may prevent them from buying a house or starting a business.
While those within the Department of Education and the Federal Government have said that any plan to bailout students is unlikely, Edie Irons for the Project on Student Debt, a nonprofit group dedicated to making college more affordable, said that "The more people who join this group, the more people who are paying attention to this issue - borrowers and policymakers" and that means those within the Dept. of Education and the Federal Government will pay closer attention to this issue as it develops.
Photo Courtesy of (Baltimore Sun photo by Elizabeth Malby / March 19, 2009)
No comments:
Post a Comment