Urgent: Vote tomorrow on student loan interest hike
Dear USAction Member,
Tomorrow, the Senate is scheduled to vote on the Stop the Student Loan Interest Rate Hike Act of 2012. This is Senator Harry Reid’s (D-NV) bill to prevent federal Stafford student loan rates from doubling on July 1st.
More and more students are finding college to be out of reach due to skyrocketing tuition and interest rates. And with outstanding student loan debt now outpacing total credit card debt in America, millions of students are being crushed under the weight of their educational debts.1
If America wants to compete in the world, we need to make college more affordable — not less. Yet Republicans continue to play politics in Washington, with one Senate candidate likening student loans to a “stage three cancer of socialism.”2
And while Mitt Romney thinks borrowing money from your parents is a viable solution to pay for college, millions of students who don't have that option depend on Stafford loans to get through college every year.3
Will you tell your Senators to not let student loan rates double before it’s too late?
This bill won’t raise taxes on anyone. Rather, it will simply require the wealthiest business owners to pay their fair share. But Republicans are fighting tooth-and-nail to protect corporate tax cheats, at the expense of millions of students struggling to pay their tuition.4
So what’s it going to be? Letting the ultra-rich continue to avoid paying their fair share of taxes, or preventing student loan rates from doubling in July?
If we don't act soon, nearly 8 million students will see an average increase of $1,000 in interest payments — pricing out many hardworking students from pursuing their dreams. We can’t let that happen.
There is a lot that needs to be done to make college an affordable dream within the reach of all young Americans. And today, USAction had the opportunity to address our concerns with President Obama who has been an outspoken advocate for preventing student loan rates from doubling. College affordability is a big priority for us — as it is to many of our members and their families. Long after this fight, we'll continue to work along side you to make college affordable again.
But with the Senate scheduled to vote tomorrow, we need you to take action TODAY. Will you tell your Senators to not let student loan rates double before it’s too late?
USAction / TrueMajority
P.S. Want to take it one step further? Chip in $5 right now so we can keep fighting for college affordability.
1 - http://www.nytimes.com/2012/04/20/education/student-loan-interest-rates-loom-as-political-battle.html
2 - http://thinkprogress.org/education/2012/04/26/471565/akin-student-loans-socialism/?mobile=nc
3 - http://www.nationaljournal.com/2012-presidential-campaign/romney-suggests-young-adults-get-loans-from-their-parents-20120427
4 - http://thehill.com/blogs/floor-action/senate/223613-reid-proposes-student-loan-bill-with-s-corp-tax-offset