Don't Let Student Loan Interest Rates Double!

  • by: Care2.com
  • recipient: United States Congress
Stafford loans, the most common of all subsidized loans, have provided the financial opportunity for tens of millions of Americans to attend college. Now, Congress is considering doubling the interest rate of student loans on July 1.

If the interest rate rises to nearly 7% during the most expensive tuition period ever recorded, less Americans will be able to afford college and graduates will struggle with even greater student loan debt.

It's especially ridiculous to raise the student loan interest rate to nearly 7% when banks are able to borrow money from the federal government at an interest rate of only about 0.75%. Why should students bear the burden of a failing economy?

June 5 is Student Debt Day. Congress needs to hear from graduates around the country about how damaging an increase in student loan interest rates would be to students and recent graduates.

We fought the fee hike last year and won. Let's do it again! Tell Congress: don't raise the interest rate!
Dear Members of Congress,

Stafford loans, the most common of all subsidized loans, have provided the financial opportunity for tens of millions of Americans to attend college. If the interest rate rises to nearly seven percent, less Americans will be able to afford college and graduates will struggle with even more student loan debt.

[Your comments here]

With defaulted college loans at an all-time high, it's dangerous and irresponsible to saddle young students with even more loans to pay, especially when banks are able to borrow money from the federal government at an interest rate of only about 0.75%. Why should students bear the burden of a failing economy?

Please make the right decision; don't raise the student loan interest rate.

Thank you,

[Your Name Here]
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