Banks who offer student loans are not held to restrictions on how they service the loan or for how long. Years after... these companies "switch" and sell the loan to loan servicers that have been widely known to impose false accounting practices, draconian restrictions on payback, and in some instances rate fluctuations against original loan terms.
This petition is to stop the bleeding for a large sub-section of Americans who currently owe debt. In no way is this petition a request to forgo debt merely to allow transfers to alternative loan servicers and open up the market to service and rate competition amongst these companies.
We petition the Obama administration to permit an open market for current student loans that empowers people to have the same options to "switch" as banks do.