Don’t Let Student Loan Interest Rates Double

student loans

Target: U.S. Congress

Goal: Renew the federal subsidized student loan program before June 30, 2012.

If Congress does not reach an agreement on the terms of renewal for the federal subsidized student loan program by June 30, the current interest rates will double. Doubled interest rates could mean additional tens of thousands of dollars for borrowers after graduation. We must act quickly and force Congress to put partisan differences aside and make a decision before the deadline.

The looming June 30th deadline continues to create anxiety among U.S. student borrowers. If Congress cannot reach agreement on a renewal of the subsidized student loan program, The College Cost Reduction and Access Act, recipients of Stafford student loans will see the interest rates rise from 3.4% to 6.8%. The familiar battle is between Democrats and Republicans, with Democrats seeking to fund the program by increasing fees and taxes, while the Republicans aim to create funds through spending cuts to other programs.

Caught in the middle of this ongoing political debate are some of the most vulnerable members of society, students trying to finance their education amidst rising tuition and shrinking financial aid resources. Nearly eight million students use loans to help pay for college, but the nation’s growing deficit is making Congress cut funding for higher education. As long as millions of individuals in the country continue to struggle under the weight of their student loans, they will not participate in economically stimulating activities, creating a vicious cycle of a stalled economy.

Sign the petition below to urge Congress to reach a compromise and make a decision on this urgent issue to ensure future generations aren’t further burdened by increased interest rates on student loans.

PETITION LETTER

Dear Members of the United States Congress,

I urge you to seek out a compromise on the current deadlock relating to the renewal of the federal subsidized student loan program so that this vital aid to some of society’s most needful, yet most promising, members can be continued.

Caught in the middle of this ongoing political debate are some of the most vulnerable members of society, students trying to finance their education amidst rising tuition and shrinking financial aid resources. Nearly eight million students use loans to help pay for college, but the nation’s growing deficit is making Congress cut funding for higher education. As long as millions of individuals in the country continue to struggle under the weight of their student loans, they will not participate in economically stimulating activities, creating a vicious cycle of a stalled economy.

Please put partisan differences aside on this critical issue for continued investment in one of our country’s most valuable resources: our college students.

Sincerely,

[Your Name Here]

Sign the Petition

  • Only your name will be displayed. By signing, you accept our terms and may receive updates on this and related causes.
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One Comment

  1. If education is out of reach for most students, then our nation has a very poor future.

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53 Signatures

  • Hermann Kastner
  • Eric von Borstel
  • Mal Gaff
  • Terrie Phenicie
  • Holly Hall
  • Jutta Taraniuk
  • Melanie waleski
  • Ricki Newman
  • sundriya grubb
  • Kara Graul
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