This petition would cancel all student loans (no matter the source or standing) that are older than 10 year, where the minimum payment per month is more than 20% of net pay of the person in debt.
Student loan debt is quickly becoming the largest drag on the economy. It is the single biggest reason that new business are not opening, younger people are not buying houses (thus keeping construction employment low), and due to federal law can not be declared under bankruptcy like most other debt.
Something needs to be done or else an entire generation will be lost to the debt they receive along with the diploma.