Loans at the Lege RECEIVED TUE., FEB. 28, 2023 Another Letter to The Editor from a member of Student Loan Justice Org.. “Loans at the Lege – Feedback,” The Austin Chronicle Dear Editor, The fact that Texas legislators like Ted Cruz are opposing student loan cancellation makes no sense. The state is crushed under 1 billion in mostly federal debt, most of the people with these loans are either Republican or Independent, and the lending system is truly the most predatory, big-government loan scam in US history. Nearly billion/year in interest alone on this debt is leaving the state every year, accruing to the Department of Education. For loans that LBJ, in 1965, declared would be “free of interest.” This cannot continue. The
Topics:
run75441 considers the following as important: Alan Collinge, law, politics, Student Loan Justice Organization, student loans
This could be interesting, too:
Joel Eissenberg writes On student loans
Angry Bear writes Texas Seniors Suddenly Lose Medicare Benefits
Joel Eissenberg writes Trump’s “Truth” Social meme stock plummets
Bill Haskell writes George Stephanopoulos asks New Hampshire governor Chris Sununu
Loans at the Lege
RECEIVED TUE., FEB. 28, 2023
Another Letter to The Editor from a member of Student Loan Justice Org..
“Loans at the Lege – Feedback,” The Austin Chronicle
Dear Editor,
The fact that Texas legislators like Ted Cruz are opposing student loan cancellation makes no sense. The state is crushed under $141 billion in mostly federal debt, most of the people with these loans are either Republican or Independent, and the lending system is truly the most predatory, big-government loan scam in US history.
Nearly $10 billion/year in interest alone on this debt is leaving the state every year, accruing to the Department of Education. For loans that LBJ, in 1965, declared would be “free of interest.” This cannot continue. The least that Sen. Cruz and other Texas legislators could do is return constitutional bankruptcy rights to the loans. But at this late date, frankly, the loans should be canceled, and the entire program scrapped.
Jacque Abron
The loans have made a profit. Holding people hostage for these loans hurts the nation.