|Don't Let Them Double Your Student Loan Rate|
|Tell the Senate: Don't let the interest rates on Stafford loans double!|
Finally: Our leaders are starting to talk about the imminent spike in the rate on federal subsidized Stafford loans.
Gov. Romney thinks rates for these loans, which are awarded based on need, should stay low at 3.4 percent. So does President Obama, who was talking about college affordability at a number of events last week. Agreement at last! Yet unless Congress acts, the interest rate on these loans is set to double on July 1, from 3.4 percent to 6.8 percent.
Obama and Romney are right to agree on keeping rates low. This year, the total amount American students and graduates owe on student loans will surpass $1 trillion -- greater than the total amount Americans owe on credit cards. Scary, huh? We must find ways to better manage this debt.
Tell the Senate: Don’t double the burden of student debt -- pass the Stop the Student Loan Interest Rate Hike Act (S. 2343)!
Federal subsidized Stafford loans are one of the tools lower-income Americans use to afford higher education and open the door to better employment opportunities. More women than men rely on these loans, and with the persistent pay gap, women struggle more to repay them.
The Stop the Student Loan Interest Rate Hike Act would keep rates at a more affordable 3.4 percent. Keeping rates low would help make the promise of higher education available to millions of lower income Americans. It also helps strengthen our economic recovery, ensuring these borrowers have more funds to save for a home or simply make ends meet.
To send a message asking your senators to support this bill, visit AAUW Two-Minute Activist or click on the "Take Action" link in the upper right hand corner of this email.
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