When student loan debt exceeded the total outstanding credit card debt in the U.S. for the first time in 2010, some decided something needed to be done.

That's why U.S. House Representative Hansen Clarke of Michigan decided to propose the Student Loan Forgiveness Act to the U.S. House of Representatives.

"After a student graduates, you would never have to make payments that were more than ten percent of your income for example and after you do that for a certain number of years then all of your student loan debt would be considered paid," explained U.S. Congressman Mac Thornberry. "That basically means the taxpayers would eat the rest of it."

Depending on their income level and how much debt they actually owe, that could means hundreds and thousands of dollars of student loan debt literally "forgiven".

"It gives them the opportunity to not be looking at the concept of they'll be a grandparents rushing to the mailbox to make their last student payment," said WTAMU Director of Financial Aid, Jim Reed.

While Congressman Thornberry agreed that student loan debt is a huge problem in our country, he also said the Forgiveness Act isn't the best way to address it.

"It's good to have an examination of why college costs have been going up so much faster than the rate of inflation over the past decade or so," Thornberry said. "The question is, what do we do about it? Do we just say nevermind, the taxpayers will take care of that for you or do we really make some of that we try to help everybody understand that when you assume an obligation, you're going to have to pay it back."

"Once again, the amount of money borrowed will have a direct impact on how effective that is," added Reed.

The act, the Congressman added, is only one of many that are proposed to the House every year and he doubted this one would even make it to the House for a vote.