That's actually not true. The President and Secretary of Education have all the authority they need to cancel all federally owned loans by executive order...this is 85% of all student debt. No money needs to be raised or spent. The taxpayers funded these loans many years ago (and they didn't pay much). These loans could be cancelled with no appropriation required, and nothing added to the national debt. As far as fiscal stimulus goes, this is by far the cheapest way to stimulate the economy. This is what needs to happen. Also, bankruptcy protections must be returned to the loans that cannot be cancelled by executive order. See this petition: Change.Org/CancelStudentLoans.