According to the Federal Reserve Board of NY, more than 37 million Americans have student loans. The mean debt was $23,300 in 2011 with 10% owing more than $54,000 and 3% more than $100,000. Payment of these balance is difficult and is evidenced by the ~5.4 million borrowers that had at least one past due student loan account in 2011.
This petition is proposing that we allow borrowers to pay back loan debt with pretax dollars.