Possible loan bailout for former college students

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A petition online has been gaining momentum to urge Congress to forgive student loan debt. Student debts can hinder a person for years, even doubling their original amount as people must choose between paying them off or paying expenses for their growing family. For families where parents pay for their children’s tuition, there are some individuals unable to retire.

The petition, sponsored by MoveOn.org, argues that forgiving the loan debt of Americans would have a stimulative effect on the economy, as people would have hundreds or thousands of extra dollars to invest. It has already generated more than 270,000 signatures.

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