Asking for Student Loan Forgiveness

I found this article on Business Week about former students asking for student loan forgiveness. Robert Applebaum, a 35-year-old attorney in New York, started a Facebook group in January called "Cancel Student Loan Debt to Stimulate the Economy." The group now has 292,703 members.

Here’s an excerpt from the article:

“Applebaum is one of thousands of graduates struggling with the repercussions of student loans years after graduation. There were nearly $131 billion in outstanding private loans in 2008, according to Mark Kantrowitz, founder of FinAid.org, which tracks the college financial aid industry. In addition, there is $544 billion in outstanding federal loans for fiscal year 2009, up from $502 billion in 2008, according to the Education Dept.”

To read the rest of the article, click here.