cap on student loan interest rates. Since student loans cannot be cleared in bankruptcy they should be capped below 5%.

Student loan debt are among very few things that cannot be forgiven in bankruptcy. They are only forgiven when paid in full or in death. Because of this there is no reason why students and parents should be paying a higher interest rate on students loans than they are on a house or auto loan. If student loans were capped even as high at 4 or 5 percent, every student would save thousands in student loan interest and would have a chance of having their student loans paid off before the age of 55-60. Also, a student or parent who has made on time payments on a student loan for 24 consecutive months should have a .5 point reduction on their student loan interest rates.