Topic

Coronavirus Aid

315 petitions

Update posted 14 hours ago

Petition to Donald J. Trump, President of the United States, United States Supreme Court, Department of Education, U.S. Senate, Mitch McConnell

Sign Executive Order to PERMANENTLY Abolish All Interest Rates on Student Loans

Student loan debt is a growing problem in our country, and it is only getting worse over time. There are various ways that we can combat this issue, however, there is one major aspect of student loans that never gets addressed... the concept of interest rates on these loans. People simply don't talk about it. Graduates (old and new) don't want a handout. We don't want "free this, free that". We work hard for everything we acquire in life. But it just isn't good enough, as 44.7 million Americans are stuck in a rat race and getting trapped in the never-ending cycle of paying on accruing interest.  I am proposing two simple, yet revolutionary ideas that could greatly combat this growing problem without impacting U.S. taxpayers.  1.) Cancel all interest balances and abolish interest rates on all federally backed student loans. Then, negotiate with all private financial institutions to drastically lower interest rates on student loans not backed federally (1% or lower). OR... 2.) Allocate all student loan payments towards the 'principal balance'. There is no reason why Americans should be paying towards the 'outstanding interest balance' first, rather than impacting the principal balance and causing the overall interest to decrease. It is an extortion racket that is draining more money out of hard working Americans. It is not ethically sound.  Sign this petition and get the attention of the Executive branch. Urge POTUS to sign an executive order implementing one of these two ideas. IT IS TIME TO CREATE STUDENT LOAN REFORMATION THE RIGHT WAY!

Sam H.
17,641 supporters
Update posted 1 day ago

澳门皇冠手机网站Petition to Donald J. Trump, Betsy DeVos

Covid-19 Economic Response: Cancel Student Loans by Executive Order.

澳门皇冠手机网站Trillions could be injected into the economy with no tax money needed, and nothing added to the national debt.   President Trump needs new ways to stimulate the economy.  After having thrown an astonishing $9 Trillion into the economy, (and adding roughly that amount to the national debt),  Wall Street is bouncing back stronger than ever, but 50 million citizens have lost their jobs, and many of those jobs will not come back.  This is hurting young people particularly hard.  The President has very few options left, and every conceivable spending/stimulus measure he might enact will undoubtedly require either more tax money, or will increase the national debt. ...EXCEPT CANCELLING STUDENT LOANS BY EXECUTIVE ORDER. The President could issue an executive order cancelling all of the student loans that the federal government holds- about 85% of all student debt. Nothing would be added to the national debt, and no tax appropriation would be needed.  This is- by far- the least expensive, and most expedient way to inject trillions into the economy. MAKE NO MISTAKE:  Before the Covid-19 crisis, this was a FAILED lending system:  55 million borrowers and cosigners are struggling under $1.8 Trillion in debt (up from only $175 billion in 2000).  Over $100 Billion in interest alone is being sucked out of the economy every year.  The default rate for 2004 borrowers is 40%, and borrowing has tripled since that time.  According to the recently resigned Chief Operating Officer of the lending program, 80% of all borrowers will never be able to repay their loans.   Unlike all other loans in this country, student loans have been stripped of fundamental consumer protections like bankruptcy rights, statutes of limitations, and others.  Without these protections, student loans have been weaponized against the very citizens they were supposed to help.   The Result: Lives and livelihoods are being wrecked en masse.  Young people aren’t getting married, starting families, businesses or buying homes.  Older people are being forced to cash in their retirements. Families are being torn apart.  People are fleeing the country.  Some are even committing suicide.  This is not right.  This was never right.   Analysts have predicted that cancelling student loans will increase GDP by about $100 billion for the next ten years, but they do not take into account the borrowing capacity (and thus spending) that such a move would free up. This would be another $1 Trillion injected into the economy in the near and medium term.  Some experts even believe that debt cancellation is the only way to avoid a depression!   THE PRESIDENT-  WHETHER THIS ONE OR THE NEXT-  MUST RESET THIS FAILED LENDING SYSTEM. President Trump has decried the fact that the government was making so much profit on the loans.  The President should create a far more efficient higher education financing system that doesn’t wreck the citizens, hyper-inflate the price of college, and enable a national threat such as what the Department of Education has become.  Rest assured, the taxpayers will be fine.  The federal government has been profiting wildly on this lending system for ten years running. Many years of White House Budget data confirm that the Department of Education is- astonishingly- even making a profit on defaulted loans!  While no one can say with accuracy how much of the $1.5 Trillion in outstanding federal loans is interest vs. principal, it is likely that the former is significantly larger than the latter.  So on balance, the taxpayer should more-than break even on such a move.  Bureaucrats, lobbyists, and other defenders of the lending system in and around the Department of Education will surely protest such a move, but 40 million citizens who are being crushed under the weight of these predatory loans will cheer, and the economy will flourish. This is an historic opportunity for the President to cure a recession, drain the swamp, create a better higher education financing system, and strongly endear himself to tens of millions of voters who would otherwise have, by and large, opposed him this coming November.    THIS IS YOUR PETITION.  HELP IT GROW!  1.   Boost it.  2.  Join us on Facebook.  3.   Post this link  in many places where it will be seen.  4.   Retweet this  to influencers who might help.     WE WILL WIN OUR FREEDOM FROM THIS DEBT WHEN YOU STEP UP AND DO YOUR PART.   Alan Collinge is founder of StudentLoanJustice.Org and author of The Student Loan Scam (Beacon Press)       Facebook

student loan justice.org
541,764 supporters
Update posted 3 days ago

Petition to Federal Communications Commission, FCC Chairman Ajit Pai, Jessica Rosenworcel

We Demand Free Internet for ALL Low-Income Families During COVID-19

Children are being forced to learn from home due to school closures, and as many as 12 million do not have access to internet. Internet providers have signed the FCC's Keep Americans Connected Pledge, promising to provide internet to families in need. However, the children who face the most challenges are actually left out of this pledge.  We are asking FCC Chairman Ajit Pai to urge all internet providers to provide free internet to ALL low-income families, even if they have prior debts or have applied for service previously. Internet providers are boasting of their efforts to provide free internet to families in poverty, but currently, millions of families across the country who are facing the most economic hardship are being rejected from these free internet offers. We all need to come together to bridge the digital divide, and corporations should not be allowed to block access to the schoolhouse door in pursuit of profit. Meanwhile our most vulnerable children are unable to access e-learning and are missing critical days of instruction. These students already face the largest opportunity gaps, and denying them access to learning opportunities now is unconscionable. It is the job of the federal government to protect the right of these young people to a free, public education. We are not alone in this demand. A group of the nation's strongest education leaders sent a letter to the chairman demanding this same thing. The telecomms companies will not act on their own. We need the FCC's leadership on this immediately. Our children most in need cannot wait!

Nekima Levy Armstrong, Tanesha Peeples, Garris Stroud, Dirk Tillotson & Zachary Wright
32,804 supporters