Forgive College Student Loan Debt To Stimulate Consumer Spending and Saving

Student loan debt has outstripped the amount of money American households owe on car loans, mortgage/equity accounts, and credit cards. Americans who have graduated from college in the last 10 years have seen their costs go up for college tuition, books, and fees while seeing their prospects for getting a job that can support their debt diminish. Student debt cripples their ability to save, invest, and build the kind of credit and assets necessary to buy a house, start a business, and raise a family responsibly. Forgiving student loan debt would unleash a population waiting to spend money in our local and national economies that would stimulate growth and provide a stimulus to our economy that is so desperately needed.