H.R.4170 - Student Loan Forgiveness Act of 2012

To increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on Federal student loans, and refinancing opportunities for private borrowers, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To increase purchasing power, strengthen economic recovery, and restore fairness in financing higher education in the United States through student loan forgiveness, caps on interest rates on Federal student loans, and refinancing opportunities for private borrowers, and for other purposes. as introduced.
  • Short: Student Loan Forgiveness Act of 2012 as introduced.

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Displaying 61-64 of 64 total comments.

AndyFiorello 03/31/2012 11:30am
in reply to BacktoBasics Mar 23, 2012 12:35pm

I agree with you, BacktoBasics, the increase in tuition is quite a problem and the government should step in to better regulate the schools. Another problem I see though, is also the rise of many schools encouraging students to go with private lenders like Sallie Mae. I currently have most of my loans through them because they were supported by DeVry. I was told I could consolidate my loans after I graduate, and there would be a number of repayment options so that I wouldn’t need to worry. However, those options went away not long before my graduation date.

Sallie Mae no longer offers consolidation, and they don’t have many refinancing options either. Since they aren’t backed by the government, they don’t have to offer IBR repayment or forgiveness. However they will give me a forbearance, with a $150 fee, so that the interest can capitalize and increase my balance. Also they have the same protections from bankruptcy that the fed loans have, so I’m stuck with them.

toray99 01/01/2013 12:37pm
in reply to StrawberryFields Mar 21, 2012 10:48pm

Then start going after professor salaries. Colleges that keep building new wings all the time.

NGoyette 11/27/2012 12:02am
in reply to Flash Mar 21, 2012 9:38am

Truly has no e in it. It is difficult to pay student loans back however, I support this bill. You sir are making a blind argument. This bill does not create a world in which you do not have to pay, it means you pay at reasonable rates without being abused by the private financial system. A system that proves over and over again that is criminally abuses our capital at our expense. It is a system that uses our payments and investments of all kinds as gambling money and hikes the rates for their playtime fun, when they make mistakes. Here are some basic economics and just well, a reflection that some of us read the legislation; capping an interest rate at 3.5% is in no way a handout. Do the math if indeed you have a degree. Your argument has no substance.

randywandarusell 04/29/2012 12:57pm

Please include students with JOINTLY CONSOLIDATED FFEL LOANS in this relief program! My husband and I are in this situation, and while we individually qualify for every program to assist with student loans currently available, because we jointly consolidated at the recommendation of our lender before it was decided it was a horrible idea, we do not qualify for anything! I would at the very least like the opportunity to refinance these loans at a lower interest rate so that we could actually make some progress on this mountain of debt!


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