(KWWL) - As college students return to the classroom, either online or in-person, many struggle to pay off student loans. But the Student Loan Justice Organization is trying to put an end to this lending system.
Founder and President, Alan Collinge, argues this is a quote 'flawed system', and the pandemic is making it harder to pay any debts off.
"This is the last straw," Collinge said.
The organization making its start back in 2005, Collinge found many student loans are stripped of:
- bankruptcy protections
- statute of limitation laws
In an effort to take action, the organization created an online petition to present the issue to the White House. Collinge said this comes after the U.S. Department of Education found 75% to 80% of borrowers will be unable to pay off their student loans. He also said this statistic further proves the current student loan system is hurting many Americans.
"We're seeing families ripped apart, we're seeing lives or livelihoods destroyed, we're seeing senior citizens social security taken away from them," Collinge said, "we've got to take a step back and say we're a better country than this."
According to the Financial Aid Organization, there are 44 million borrowers across the country, making the national loan debt stand at almost 1.8 trillion dollars.
Since March, the petition has accumulated over 600,000 signatures, and are trying to reach a million. Collinge said their goal is to get rid of 85% of student loans by this presidential term, or the next.
For more information on the petition, click here.