Paying for college has never been more difficult. Since the 1980s, tuition and fees have swelled by more than 500 percent! As if these skyrocketing costs weren't enough, interest rates on some federal student loans are scheduled to DOUBLE this Sunday. And only Congress can stop it.
But after weeks of discussion, legislators on Capitol Hill have yet to act, leaving the college careers of more than 7 million students at risk. With only a few days left, rumors are flying in the press about a potential deal. But rumors are no comfort for students like Clarise McCants, who cannot afford the rate increase.
"Even with grants and scholarships, I still have to rely on loans to pay for college," she says. "If my interest rate doubles, it'll take me even longer to dig my way out of debt after I graduate."
Congress needs to finalize its deal NOW. Help us fight this rate increase by telling them to finish the job: Stop student-loan interest rates from doubling on July 1.
America's students urgently need a bill that will prevent interest rates on federal loans from doubling this summer. The longer it takes for the two parties to reach an agreement on this issue, the more urgent the situation becomes for hard-working students. As costs for higher education skyrocket, the need to keep these interest rates low is critical.
More than 7 million students count on low-interest Stafford Loans to learn their way to a brighter future and earn their way into the middle class. Nearly half of these students come from families earning less than $30,000 a year.
[Your comments here.]
Our nation can't afford to let these interest rates double, creating yet another obstacle along the already treacherous path to graduation. I urge you to do what's right. Time is running out. Please reach across the aisle and pass legislation that will keep Stafford Loan interest rates low.
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we signed: Tell Congress to Stop Student-loan Interest Rates from Doubling on July 1
Congress voted to maintain the current student loan interest rate.
Both the House and Senate approved a bill maintaining the current student loan interest rate instead of doubling it. This will save college graduates and their families billions of dollars. Read more >>
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