This is a petition requesting the President allow all forms of debt, SPECIFICALLY Student loan debt, to be discharged during bankruptcy.
The dichotomy of the financial treatment of businesses, individuals, and students is archaic.
Current protective measures for students allow income based repayments, but these are akin to forcing an unsuccessful business to stay open. Ultimately, a business will file for bankruptcy and wipe the slate clean. A student does not have this option. We need this option.
Not only would allowing student debt to be discharged promote competition in the lending space, but it would also promote incentives for colleges to keep costs low, providing innovative solutions to adress America’s educational shortcomings.
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