“Bailout” seems to be the word of the year, and with soo many of them being offered to financial institutions and corporations in the United States, it leaves many drowning in student loan debt wondering, “where’s my bailout?”
With the current economy in a major slump, the job market can be a down right war zone. Many times thousands of qualified graduates are fighting for a single position – leaving the 999 college graduates who didn’t get the gig still holding the buck when it comes to paying back their student loans. Sure you have some options, but grace periods and student loan deferment only lasts so long. Sooner or later you are going to have to start paying back your student loans regardless if you landed your dream job or not.
So if you’re pissed off, and struggling to pay back your student loans we have found the Facebook group for you…
PETITION TO CONGRESS FOR A STUDENT LOAN “BAILOUT”
1) Allow student loan payments to be made with PRE-TAX INCOME. We propose the establishment of a Flexible Spending Account for Education that will not be subject to federal payroll taxes. Individuals will be able to pay education related debt using this account.
2) RESTORE BASIC CONSUMER PROTECTIONS to student loans (e.g. bankruptcy protection). For more information on this point, visit www.StudentLoanJustice.org.
3) Place FIRM CAPS ON INTEREST RATES that loan companies are allowed to charge for federally-backed student loans.
4) Federally-backed loan companies will be PROHIBITED FROM CHARGING PENALTIES in excess of 25% of the original principle loan amount for the life of the loan.
To join the group or read more click here: http://www.facebook.com/group.php?gid=31344557829&ref=share
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