Why we need student loan debt forgiveness

I am in total agreement with this plan. I have often stated that true 'reprerations' for a lot of Black folk would be to forgive their student loan debt. If I were to get a letter informing me that my student loan debt had been forgiven, I would probably pass out. For some households with two college educated parents, that could free up on average about $800.00 easy. I hope some is listening to plan because it is a good one.

We have the jobs plan. President Obama laid it out in front of joint session of congress and is now taking it on the road to appeal to the American people and trumpet up support. While we debate the particulars and generally praise Obama for his forcefulness and urgency in delivery, we ignore another potential crisis looming in the economic shadows.

We need jobs now, absolutely, but if something isn't done about the student loan debt crisis, we very well could be looking at turning this Great Recession into a full on depression.

According to a July report from Moody's Analytics, "the long-run outlook for student lending and borrowers remains worrisome." There are some 35 million people in this country that have outstanding student loans totaling $805 billion. Lending has increased during this Great Recession as people are returning to school or staying longer because of bleak job prospects. As schools endowments have been depleted and slowly recovered, college tuition and fees have doubled since 2000.

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