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8/15/2024 Pushing the President HARD IMPORTANTHey Everyone!
We're pushing the President hard this week to cancel student loans and return bankruptcy rights before he leaves office. The last time we did this, we wound up on Fox News, Newsweek and dozens of other shows, and leading Senators like Elizabeth Warren made it a real issue in the 2020 campaign. Let's do it again!
This is our time. This is your chance to really make a difference! Please do your part. It will help. LETTER TO THE PRESIDENT: Mr. President, I request urgently that, before you leave the White House, you take two executive actions: 1. Scrap the "new bankruptcy process" for student loan, stop opposing student loan borrowers in bankruptcy court. Call on Congress to repeal 11 USC 523a(8). 2. Cancel federal student loans immediately, using HEA 1082 a(6). This is your legacy, Mr President. The federal student loan program, as you should know, is failed. You promised both bankruptcy and cancellation in 2020. Up to this point you have not done that, and the large majority of all borrowers are unable to even pay on their loans. We are seeing a spike in suicides, gruesome violent crimes, and many other terrible outcomes related to this unconstitutional, weaponized, predatory debt, and it is time to address it meaningfully, before things go really bad at the end of the Summer, when the collection companies will be unleashed on the country. Lending systems fail from time to time, as you know. You should be honest and acknowledge that fact for federal student loans, deliver to the people what you promised, and lay the groundwork for the next President to replace this failed, nationally threatening loan scam- and it is a scam- with something that is rationally priced, and doesn't financially ruin the large majority of people who try to use it. I have zero confidence that your successor- whoever that may be- will do these things as President, so it is up to you. You have all the power needed to do this today. We're counting on you to be a decent man, a man of your word, and to do the right thing. Great Presidents do great, bold things. Godspeed-
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