Mr. President: Student debt now tops $1 trillion, even higher than credit card debt. Young people are burdened with huge amounts of debt, making it difficult to take rewarding jobs, start businesses, or even own homes. Worse yet, if they find themselves unable to pay for their student loans, they have no way of climbing out from under them and making a fresh start. Why? Because the Bankruptcy Code provides that student loans are nondischargeable debts.Rather than force them to live under this crushing debt, we should encourage a pathway to prosperity by treating student loan debt as we do other types of unsecured debt. Americans should not be penalized by lifelong burdens and dismal futures for financial decisions made in youth. Tell Congress to make student debt dischargeable!
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