Writing a paper where you apply for student loan forgiveness might be one of the most important papers you compose. You’ll want to focus your energy and attention on creating solid arguments and presenting them correctly. It will be much easier to write a paper like this if you have a reference in front of you. Luckily, we provide expert samples of this kind of paper!
Points to Mention in Your Essay about Loan Forgiveness
- It stimulates the economy: When young professionals don’t spend years trying to pay off loans, they help stimulate the economy. A young specialist will benefit the economy and the country much more as an active consumer who is not limited by student loan payments. Such a specialist can invest in a car, buy real estate, or even open a business.
- It narrows down the racial wealth gap: Student loan forgiveness policies help bridge the money gap between different races and cultures. If those with less disposable income have more, they’re more likely to stimulate the economy with it as they are less likely to put it in a bank to let it sit and provide no stimulation to the most competitive businesses – rather the use of the money will be determined by the whims of a small cohort of privileged people less likely to be in tune with the wants and needs of the majority of the human population.
- It helps students to start new lives: Let’s leave the economic factor out of the equation and, for once, think about the students themselves! Even if you’re not yourself a student, put yourself in their place and recall the many years of your life you spent repaying student loans.
Creative Ideas for Student Loan Forgiveness Essay
- Economic Freedom: Unraveling the Pros and Cons of Student Loan Forgiveness
- ‘Handcuffed to their Diplomas’: The Effect of Public Opinion on Student Loan Forgiveness Policies
- The Balancing Scale: Full Forgiveness or Caps on Student Loans?
- ‘Beyond Debt & Dreams’: How Might Comprehensive Education Reform Play a Role in Public Policy on Student Loans?
Student Loans Essay Sample
Student Loan Forgiveness Program
47 W 13th St, New York, NY 10011,
October 15, 2022.
The White House,
1600 Pennsylvania Avenue, N.W.
Washington, DC 20500.
Dear Mr. President,
I hope you are doing well. My name is Tyger Ava, a former student at Harvard University enrolled with an eligible degree package in Business Management. During the admission period, I was eligible for a loan corresponding to my education payment which I had to reimburse with interest after completion. I am writing to request student loan forgiveness as my state impedes employment, and my present and imminent salary do not back any debt reimbursement. I first wish to express my appreciation for the student loan program that you have implemented. The loan has fully aided me in funding my studies. The support was satisfying for me and my household with a substantial economic load.
Student loan holders are set to recommence payments soon. I urge you to pardon my student credit, given the widespread economic issues across the state. The department has offered critical support to millions of student loan debtors by pausing payments, as I studied during the Covid-19 epidemic. The much-required pause has helped me keep a roof over my head and obtain my basic needs, including medical care, and treatment during the period of the epidemic. During this time, I had the chance to allocate funds to my basic necessities. Recommencing scholar loan imbursement will force me to select between paying student loans, providing for food and daily necessities, and paying medical bills. At the same time, expenses continue to increase, and yet another covid variant threatens to impact the economy. Meanwhile, the cost of food and many other expenditures has increased as supply chains are disrupted by Russia’s invasion of Ukraine.
Need for Funding
My current salary is inadequate to cover my student loan liability at the moment. Additionally, owing to my medical condition, I do not predict a sudden positive change in my monetary means nor immediate upward movement in terms of employment.
Nine months ago, I had a terrible accident returning home from work. I was confined to bed for seven months while I undertook treatment. Owing to my small salary and large hospital bills, I do not foresee my monetary status or ability to make payments increasing in the near term. Because of my unanticipated expenditures, my budget was dearly strained. I had to take unpaid time off work and fell behind in payments. It will be impossible to handle the responsibilities of most of the jobs that I would be able to be employed in before I”be fully recovered. I am therefore not in a position to reimburse the student loan which I’ve been approved for. Furthermore, my father, who I reside with, was recently laid off from the construction corporation that he was working in over a year ago and has not been able to find full-time employment since, making it unlikely he will be able to provide me with any support toward my student loans..
Request for Loan Forgiveness
Owing to the explanations mentioned above, I humbly request that you pardon my student loan as my monetary position is not conducive to debt reimbursement. I have attached my hospital bills and evidence of the accident to prove my claims. I am also ready to provide any other information required to facilitate the student loan forgiveness. I am looking forward to hearing from your office. Thank you in advance for your consideration of my situation.
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