Student Loans should not have interest rates higher than 5% since there is no legal way to be absolved from paying them.

As it stands it is impossible to be legally absolved from paying student loans. If one was to declare bankruptcy, the loans would still need to be paid. The banks will not lose money since they will receive the original funds borrowed, plus more, from the borrower. This petition is for the National Government to regulate student loans and put a cap on the interest rate that banks are allowed to charge. That cap should be at 5% to allow students the ability to free themselves from debt and contribute back to the economy without the burden of bottomless debt.