Armand California

Student Debt Crisis

We need to end the student loan debt crisis.

Dear Next President,

This election will be incredibly divisive for the whole country and no matter what the outcome of the election I’m certain that the country will be impacted for a very long period of time following the election. There is one issue which has been severely hindering millions upon millions of americans. This is the issue of student debt. Our country is going through the biggest crisis in history and it is happening as we speak. The significance of the student loan debt crisis is not only in the money that is involved but also the direct effect on the American economy.

In total the United States has almost 2 Trillion total dollars of unpaid student loan debt. An indisputable horrific side Student loan debt is that it can not be forgiven when you file for bankruptcy and many people go their whole life without being able to pay off their student debt which significantly impacts their life. This means that many people can not file for other loans to buy a house or a car for example because their credit score is not liable enough from this atrocious burden that is their student debt.

Making the situation even more fearsome, predatory lending is significantly on the rise. Banks and loan agencies have been targeting students who are desperate for money so they can go get a college education. But other than it being absurd that there are 2 trillion dollars of student debt in this country, this is much more than just debt. This has a huge impact on the workforce and job market.

We have a national student debt that is an embarrassment for a first world and developed country to have, loans that are being targeted towards people who are unable to pay them off worsening the  endless hole into debt. We have set up and not compensated an economy built like a house of cards. It can all be brought down with this problem, the problem being that the card at the bottom which has the power to bring it all down or keep it afloat, doesn’t support the whole economy.

Dear next president, the future of this country will be significantly impacted by the way our government handles this national crisis and I trust that you will take deeply into consideration that immense scale and importance of solving this crisis.

Thank you, Armand