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Student Loan Ranger: Learn What the Student Loan Forgiveness Act Could Mean for You

On March 8, Congressman Hansen Clarke (D-Mich.) introduced H.R. 4170, the Student Loan Forgiveness Act of 2012.

Normally we don't go into the findings of particular pieces of legislation, but the Student Loan Ranger thinks findings like this are refreshing and show Rep. Clarke is living in the reality most of us inhabit, including:

"Total outstanding student loan debt officially surpassed total credit card debt in the United States in 2010, and is on track to exceed $1,000,000,000,000 during 2012; 

Excessive student loan debt is impeding economic growth in the United States. Faced with excessive repayment burdens, many individuals are unable to start businesses, invest, or buy homes; 

Because of soaring tuition costs, students often have no choice but to amass significant debt to obtain an education that is widely considered a prerequisite for earning a living wage."

If you want to hear more from Rep. Clarke, you can watch him introduce the bill in the House. But right now we're going to do what the Student Loan Ranger does best: explore the details.


Read the full post at our U.S. News Education Student Loan Ranger blog.