Collinge posted information on how this meeting went on Facebook. He wrote, "This is the first piece of legislation, city, state, or federal, to call for a meaningul [sic] reform of the, student loan system. StudentLoanJustice.Org applauds Jim Sano, City of Albany, NY, for this bold move."
I wrote to Sano yesterday morning (Sunday) and introduced myself. I told him I was a blogger and also a promotional writer for Robert Applebaum's movement (we're almost, almost nearing 225,00 members too!). Sano wrote me back in less than five minutes. He sent me the resolution (see below) and offered to speak to me later in the evening. (There's serious government interest, if you ask me!)
Sano learned about this movement from his daughter who is currently in graduate school. In fact, Sano has two daughters and both of them have undergraduate degrees. In a word, with two daughters who have obtained degrees, and one working on an advanced degree, Sano understands the situtation on a personal level.
When Sano began to explore these movements, he told me he was surprised by how extensive and well-connected they are already are. (Yeah for the team!). He thinks that Applebaum's proposal raises some really critical points. I also informed him that I'd reached out to local politicians in my area. In fact, I wrote to a few of them yesterday. Delegate David Poisson of the 32nd district of Virgina (the ever-expanding Loudon County) responded to me too. (I have a theory that it's best to write to politicians on Sundays. They seem perhaps more inclined to respond. Just my hunch). Poisson told me that he will raise this issue in January when the General Assembly reconvenes. (I will make a point to nudge him when that month nears). Sano also told me that I could send Poisson the resolution below.
Sano is very open to this idea, but recognizes that it will take a lot of time. One thing he said that struck me as critical was this: we need to get this off the Internet and out there in other forms of public discourse. (That's why I urge all of you to write to Ira Glass and ask him to do a story on our movement).
Here are some of the things we agreed about:
1) We need to keep this dialogue going (that's why this blog is critical and I hope to earn more followers)
2) The resolution doesn't have to be s standoff between Wall St. and Main St.
3) If student loans were to be forgiven, there would have to be a component that required students to work in the public sector. (There are programs in place like this now, but they being restructured or halted as a result of the Great Recession. The NYT had a story about a husband wife, Travis Gay and Stephanie Gay. They are both special education teachers who are part of a Student Loan Debt Forgiveness program. The Kentucky Agency handling their case, however, has cut back this program, so the Gays are facing a difficult financial situation. In total, the couple owes $100,000).
Here's the resolution. I have more things to say, but wanted to get this up ASAP. (The italicized parts need filling out).
RESOLUTION
Council Member Sano introduced the following resolution:
RESOLUTION NUMBER
RESOLUTION OF THE COMMON COUNCIL CALLING UPON CONGRESS TO OFFER PROGRAMS TO REDUCE STUDENT LOAN DEBT AS AN ECONOMIC STIMULUS TOOL AND REFORM THE STUDENT LOAN PROCESS.
WHEREAS, the cost of higher education has risen faster than the average starting salaries, leaving many new college graduates with student debt which exceeds their ability to pay, and
WHEREAS, student loan repayment can be difficult for young people starting off their careers and has become even more challenging now with the economic downturn, as recent graduates lose their jobs or struggle to land one. Graduates confront unaffordable monthly payments, loans that are nearly impossible to discharge, and restrictive loan repayment plans, and
WHEREAS, there were nearly $131 billion in outstanding private loans in 2008. In addition, there is $544 billion in outstanding federal loans for fiscal year 2009, up from $502 billion in 2008, according to the Education Department. The average debts of students graduating with loans rose from $18,796 in 2006 to $20,098 in 2007, according to the Project on Student Debt, and
WHEREAS, forgiving private and federal student loans should be greatly expanded in exchange for service in all public sector jobs, so as to better utilize these degrees and experience especially in our most disadvantaged areas. The time frame for public service should be proportional to the amount of debt asking to be forgiven, and
WHEREAS, forgiving student loan debt would have a stimulating effect on the economy. Responsible people who did nothing other than pursue a higher education would have hundreds, if not thousands of extra dollars per month to spend, fueling the economy. As a result, tax revenues would go up, the credit markets will unfreeze and jobs will be created, and
WHEREAS, in order to stop this cycle of destructive student debt we also urge Congress to examine the following; repealing the exception to bankruptcy discharge of private, governmentally-guaranteed and government education loans, increased Pell Grant funding, to align the definition of total and permanent disability discharge with the Social Security definition of a disability, mandatory financial literacy training for all college students, and improvements in loan counseling and
NOW, THEREFORE, BE IT RESOLVED, that the Common Council of the City of
NOW, THEREFORE, BE IT FURTHER RESOLVED, that a copy of this resolution, suitably engrossed, be transmitted to
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