From http://www.studentloanjustice.org/
Dear Congress Person,
The student loan program has grown into a big-government beast, and it is wrecking your constituents and this country. While the obscene government profits on this program (The government books something like $75 Billion per year in profits, and even makes a profit on defaulted student loans), grow larger every year, and these profits are used to subsidize other big-government programs like Obamacare, the citizens are being sacked with outrageous levels of debt. In the absence of standard, constitutional bankruptcy rights, and statutes of limitations, the citizens are easy prey for the lenders. And make no mistake, Amy: The Department of Education fights tooth-and-nail to keep bankruptcy rights away from these loans.
This is not acceptable. The Founding Fathers- who themselves were being wrecked under the weight of predatory debt to British banks and merchants- felt so strongly about the need for uniform bankruptcy protections, they called for exactly this ahead of the power to raise an army, ahead of the power to coin currency, ahead (even) of the power to declare war when they gave Congress its powers in Article I, Section 8.
I hope this is not lost on you,. It is time for conservatives to stand up and put a stop to this reckless, big-government tyranny. 11 USC 523(a)(8) must be repealed immediately. Student loans must be treated in the same manner as all other loans in bankruptcy proceedings. The Founders saw this coming.
I could go on, and on, here, describing to you the massive damage that has been done to your constituents, the suicides we have documented, etc. I will save my breath, but only point you to these articles from people at the Cato Institute, George Mason University, Bloomberg, and USA Today from the past year. All of them are saying the same thing: Return bankruptcy rights to student loans.
George Mason University (Frank Buckley):
Your boss has a conservative, a constitutional, and a moral duty to stand up for the people over the Department of Education. I hope you are listening.
Do you have any time this week or next to talk more about this?
Please let me know. You can reach me anytime at 202-594-1120
Regards,
Alan Collinge
