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Student Loan Forgiveness

The concept of government-sponsored student loan refinancing and the existing Public Service Loan Forgiveness Program both have merit, as well as re-examining the regulations covering private student loans - to be sure young adults are fully aware of the ramifications of the documents they are being asked to sign.

Outright loan amnesty - whether in whole or part - isn't fair to six groups (1) families who sacrificed to pay for college (2) those who would have selected a more expensive school had they known their debt would be pardoned (3) Americans who volunteered to serve in our Armed Forces in order to avoid taking on debt (4) those who repaid their loans (5) those who chose not to go to college to avoid the financial liability and (6) future generations of students.  

However, outright loan amnesty can be made fair by the requirement of something in exchange for the amnesty - such as some type of public service or volunteer requirement, perhaps for the life of the loan.

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