In addition, new requirements may be appropriate for private and federally guaranteed student loans so that all of the more than 40 million Americans with student loans have additional basic rights and protections. The President is directing his Cabinet and White House advisers, working with the Consumer Financial Protection Bureau, to study whether consumer protections recently applied to mortgages and credit cards, such as notice and grace periods after loans are transferred among lenders and a requirement that lenders confirm balances to allow borrowers to pay off the loan, should also be afforded to student loan borrowers and improve the quality of servicing for all types of student loans. The agencies will develop recommendations for regulatory and legislative changes for all student loan borrowers, including possible changes to the treatment of loans in bankruptcy proceedings and when they were borrowed under fraudulent circumstances.
The Bill of Rights was created by process of debate in the First Congress and ratified by debate in the legislatures of the states. This history reminds us of the importance of civic discourse in the life of the nation. Learning to advocate for ideas persuasively and respectfully was as vital a lesson for America's first legislators as it is for students today. This debate challenges students to assess the call to update the Bill of Rights by speaking for and against the idea. Organize the class into two teams and have each team spend 45 minutes organizing their arguments and evidence prior to debating.