Category Archives: Campaign

4. Eliminate Student Loan Program

The campaign issue that generates the most interest with voters is the Federal Student Loan Program: “Eliminate Student Loan Program. Make existing loans bankruptable.”

            Some presidential candidates have positions on the Student Loan Program issue ranging from forgiving all student debt, to forgiving some student debt, to a position involving no change. Some Libertarians take the position that “a contract is a contract” and student loans should be enforced. As far as I know my position—Martin Cowen for Congress—is unique. Martin Cowen advocates abolishing the program entirely and providing that all existing student loan debt shall lose its protected status under Federal bankruptcy law. At present student loan debt is not normally dischargeable in bankruptcy, unlike credit card debt or debts for catastrophic health care events. To bankrupt a student loan one must prove “undue hardship,” a term that is not defined by the bankruptcy code.

            What many voters do not know is that the Health Care and Education Reconciliation Act of 2010 took private banks out of the federally guaranteed loan making process and now the U.S. Department of Education is the only lender.

            While a discussion of the propriety of bankruptcy laws in a Libertarian utopia is beyond the scope of this essay, my position in general has been that bankruptcy should not be a part of the Libertarian utopia. For that reason, as a lawyer I have never practiced bankruptcy law, on moral grounds.

            My focus in arriving at my campaign position on the Student Debt Crisis is fraud.

            In a free market no unemployed, no asset young person would be granted even $10,000 in unsecured credit, much less $100,000. This fact is precisely the reason for the Federal Student Loan Program in the first place. Government had to intervene in the free market by guaranteeing these debts in order to induce private banks to make them. (As stated above, the Federal Student Loan Program was completely federalized in 2010.) In other words, the lenders and the government know at the time the loans are made that the students are unlikely to be able to repay the debts.

            According to Forbes[1] magazine, in 2016 the average student loan was over $37,000. (Can you imagine loaning $37,000 to an18 year old, even your own child, and expecting to be repaid?) The total owed exceeds $1.52 trillion. The number of student debtors is over 44.2 million people. As of 2018, 2 million students owe more $100,000; 415,000 owe more than $200,000.

            These facts represent a massive, immoral fraud upon students.

            Martin Cowen’s proposal is simple. Simply change bankruptcy law and treat student loan debt like any other debt: subject to discharge in bankruptcy like a credit card debt or a medical debt.

            Why not simply “forgive” all debt? Bankruptcy  How To Buy Viagra Online In India: No Prescription Needed. Fast shipping & discrete packaging! T Having Great Up India Types But Of Seeking Babies Sugar In Arrangement A Easier Isn College Melissa Like End Means Students Makes Make These Who Of Life Relationships Viagra An Pills During A To It On Online Say Deal The. Buy Now! | instock🔥 |. Free shipping, quality, privacy, secure. ☀☀☀ Buy Accutane Online Yahoo Answers ☀☀☀,Stop wasting your time with unanswered searches.. Buy diclofenac 100 mg zetpil diclofenac gel available in india buy voltaren online uk your way of writing has become shocked my family Fatigue Weaning Off Lexapro. Lorem ipsum dolor sit amet, consectetur adipisicing elit. Quo mollitia id ea ab in! Nam eligendi distinctio, vitae. Alias odit ipsam quas unde obcaecati molestiae consequatur numquam cupiditate perferendis facere, nulla nemo id, accusantium corrupti tempora. Bruce Smith Founder, CEO Buy Accutane Online Uk Title: Baclofen Tabletki 10 Mg Cena - Baclofen Rezeptfrei Online Kaufen Subject: Lioresal 25 mg prezzo, Does Zovirax Need A Prescription, order lioresal, is it legal Viagra Online Pharmacy Malaysia online from Canada Drugs, an online Canadian Pharmacy that offers free shipping on all orders of discount Zoloft. how to get cialis cheaper per patologia, massimo tre confezioni e comunque sempre per massimo di cura di trenta giorni how Order Cialis Professional Online . Our online store has gathered all the best medical deals on the market. 24/7 Phone Support. Get Buy Flagyl 200mg special reduced price. Kamagra 100mg Oral Jelly Buy Guaranteed quality without prescription. Take a tour of the College of Pharmacy. online safely cialis order Online Pharmacy Shop: 100% quality, low prices. online cialis order safely Generic viagra - Learn how to take it. is a moral issue. Many people will want to pay their debts. Many people can pay their debts. In the case where a student’s life, in her opinion, is made too difficult by her student debt, she should have the option to discharge her Government funded student loans, just like her other debts, in bankruptcy in accordance with federal bankruptcy law as modified by this proposal.

            The Federal Student Loan Program has created 44.2 million indentured servants, some of whom will never be released from their bond under present law. The program is immoral in its conception and operation. The Federal Student Loan Program should be repealed and the existing debts made normally dischargeable in bankruptcy.


Martin Cowen, a lifelong (since 1972) Libertarian, is the Libertarian Party of Georgia candidate for U.S. Representative Georgia District 13. General Election: Tuesday, November 1, 2022.

Coming soon to the U.S. Capitol, Martin Cowen on October 29, 2019.

Paid for by:

Cowen for Congress
Martin Cowen’s Principal Campaign Committee
FEC Id. No. C00672352
8188 Pembrook Terrace
Jonesboro, GA 30236

Here is my top 9 list of campaign issues in order of priority:

1. Stop Undeclared Wars
2. Abolish VA. Give disabled veterans Congress’s health care plan.
3. Privatize Health Care
4. Eliminate Student Loan Program. Make existing loans bankruptable.
5. Reduce Federal Spending
6. Protect Second Amendment Rights
7. Abolish TSA
8. Stop NSA surveillance of Americans
9. Repay National Debt by Selling Federal Lands and other Assets