Companies like Sallie Mae lend adjustable rate private student loans with little oversight or education on the future responsibilities of repayment or compound interest to students desperately trying to build a life for themselves by going to college. These loans rapidly increase to large sums of money requiring decades of repayment or a life time of bad credit. This hurts our economy and kills the American dream.
Companies should be held accountable for their lending like all other types of loans and discharge of these debts should be available to help avoid this lifetime of debt simply for trying to live the American dream. The $1 trillion dollars in student loan debt is making bankers rich and the rest of our country poor and we are asking you to protect us from predatory lending.