|
1/5/2026 Send this Message to the President!Ladies and Gentlemen:
We need your help with this. Please go to https://www.whitehouse.gov/contact/ and send the President a message like this: Use your own words if you like. Copy and paste if you must, but PLEASE GET THIS DONE!!! THIS GROUP HAS DONE GREAT THINGS. IT'S TIME TO DO A GREAT THING AGAIN!!! --------------------------------------------------------------- Mr. President, The federal student loan program has failed, catastrophically, and you need to act. I urgently request that you: 1. Immediately scrap the "new bankruptcy process" implemented under President Biden, which usurped the power to decide bankruptcy cases from judges, and gave it to the Department of Education, which (history has shown) has no desire or intentions of serving the citizens, and every intention of maximizing their profit at the citizen's expense. Also, please order the Department and its contractors to stop opposing borrowers in bankruptcy court. 2. Demand that your Congress reverse legislation that Joe Biden, as senator, helped enact, repeal 11 USC 523(a)8, and return standard bankruptcy protections to these loans with a provision that requires the 20-30 wealthiest colleges in the country reimburse the taxpayers for discharges. With over $50 Billion/year in annual endowment growth, they can easily afford the $6 Billion annual expense that this is likely to result. The Founding Fathers called for uniform bankruptcy rights in the Constitution, ahead of the all the rights listed in the Bill of Rights, and even ahead of the power to raise an army and declare war. Both you and Secretary McMahon know full-well the very good reasons behind having uniform bankruptcy rights in this country. Removing this right has caused all manner of abuse of the citizenry, runaway inflation in the price of college, financial extortion of the citizens and given rise to precisely the sort of tyranny the Founders wanted to avoid. This has to happen, Mr. President. The rampant abuse that this predatory loan scam has enabled against over 40 million citizens simply cannot be allowed to continue. The colleges and the Dept of Education cannot be allowed to ruin even one more generation of our citizens in this predatory debt. Mr. President: in the past few years we've seen a spike in suicides, murders, expatriation and even violent, revolutionary actions directly related to student loans debt. This will surely escalate dramatically in the immediate future. This is nothing like what was intended in 1965 when the student loan program was rolled out, where the President promised the loans would be "free of interest". This year, I estimate that well over $100 Billion in interest will be sucked out of the states and sent to the Swamp in Washington. In 2015, you said it yourself, Mr. President: "I think it's terrible that one of the only profit centers we have is student loans. That's probably one of the only things the government shouldn't be making money off". You were right, Mr. President. You should go with your gut on this. There are 37 million borrowers (out of 43 million) in the country who are stuck in this predatory loan scam, and who will never be able to repay their loans under the current unconstitutional laws. Despite what you may think, most of these borrowers are older, not younger. Most of them are Republicans or Independents. "Red States" are hurt by this predatory debt far worse than "Blue States". While few people would ultimately need to file bankruptcy, all of them must have the same leverage as all other borrowers, and the Department of Education must behave with at least the minimal level of good faith that all other lenders must, instead of the viciously bad faith they have exhibited for the past 30+ years. Where previous administrations have tricked and betrayed us, you can very easily make this right. I hope and pray that you do the right thing, Mr. President. This will be your legacy, whichever way it goes. Good Luck and Godspeed-
0 Comments
Leave a Reply. |