Today the federal government holds over one trillion dollars in student loan debt1—more than the total debt held by all major American credit card companies combined. To compound the problem, many young Americans still struggle with finding a job and making their loan payments.
John Larson knows it’s time for a change.
Too many Americans are tapping the brakes on starting a family or buying a home. Too many wrestle with rising interest rates and mounting debts. Now John wants to know:
If America can bail out Wall Street, why can’t we help our students?
John knows we can.
A college education is becoming increasingly vital to securing a job. But getting a diploma shouldn’t mean laboring for years to pay off its cost before you can start a life of your own.
In the vision of President Kennedy, John is proposing a new path forward. Americans who commit to public service should receive relief from student loan debt. Whether it’s the Peace Corps, Teach for America, Vista, Americorps, the armed services, or any number of community-based organizations, the result is the same: relief from the mounting burden of student loans and the thanks of a grateful nation.
1Meta Brown, Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw. The Student Loan Landscape. Liberty Street Economics. 02-18-2015. http://libertystreeteconomics.newyorkfed.org/2015/02/the_student_loan-landscape.html