Students don’t need a bailout
By Robert M. Davis
Davis is a master’s student in public administration/public affairs at Virginia Tech.
The Student Loan Forgiveness Act of 2012 (H.R. 4170), introduced by Rep. Hansen Clarke of Michigan, is otherwise known as “the bailout for college students.” I recently came across a petition being spearheaded by Robert Applebaum, founder of a grassroots movement that has led to this popular petition now touting more than 450,000 signatures in support of a loan forgiveness measure.
This measure is intended to be a stimulus plan that would pump millions of dollars back into the economy. This would be accomplished by increasing the purchasing power of students by alleviating them of their monthly payment toward their loans. Students and individuals could buy houses, start a business or make purchases with their new disposable income. Ideally, it would translate into job creation and stimulate the economy.