Today there is a call to cancel student loan debt up-to $50,000.00, I am not on board with that, but I am wanting change.
- Set all FEDERAL loans at 0%
- Retroactively set all loans to 0% from inception of the loan.
- Configure all interest paid or accrued from inception and apply to balance.
- Put all loans on 30-year repayment plan.
- CAP the max monthly payment at 5% of NET income for incomes under $120,000.00 a year and 10% over that.
- For those who have repaid all their student loans, you will get a tax credit in the amount of interest paid on those loans and you must use it within five years. This may be spread out over the five-year period.
- Stop and remove ALL Federal student loan from ALL credit agency reporting.
- If you become disabled and receive SSDI, your loans are forgiven if it is permanent.
- If you are a Veteran and became 100% P&T or TDIU P&T, your loans are forgiven.
- If you reach the age or start receiving your own SSA benefit, your loans are forgiven.