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Take Action: Oppose House Proposal to Increase Student Loan Interest Rates


US Politics & Gov't  (tags: abuse, americans, congress, dishonesty, ethics, economy, government, lies, politics, propaganda, republicans, usa )

JL
- 454 days ago - capwiz.com
Take a look at the Smarter Solutions for Students Act (H.R. 1911): This bill claims to keep interest rates on federal student loans from doubling on July 1, but there's nothing "smart" about the way it proposes to do that.



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JL A. (275)
Thursday May 23, 2013, 3:56 pm
Oppose House Proposal to Increase Student Loan Interest Rates
We all know actions speak louder than words. Similarly, what a bill would actually do speaks louder than the title it's given.

Wondering what we mean? Take a look at the Smarter Solutions for Students Act (H.R. 1911): This bill claims to keep interest rates on federal student loans from doubling on July 1, but there's nothing "smart" about the way it proposes to do that.

The bill would move student loans away from a fixed interest rate to one that varies depending on the market interest rate. Under that calculation, interest rates are projected to more than double in only a few years. In addition, students would be faced with a different interest rate every year even during repayment. This makes it difficult for them to be smart borrowers and plan for the amount of debt they can afford to borrow.

The current plan to let student loan interest rates double on July 1 is broken but the Smarter Solutions for Students Act (H.R. 1911) is not the way to fix it. Urge your representative to oppose the not-so-smart "Smarter Solutions for Students Act" (H.R. 1911) when it comes up for a vote next week.
 

NicoleAWAY W. (625)
Thursday May 23, 2013, 4:13 pm
signed and shared, thank you JL
 

Julie E. (347)
Thursday May 23, 2013, 4:14 pm
Thank you for taking action!
 

Darren Woolsey (60)
Thursday May 23, 2013, 4:20 pm
Looks like it's restricted to the U.S., but have noted and shared around.
 

JL A. (275)
Thursday May 23, 2013, 4:31 pm
Update: if you can, modify text to express displeasure on the vote--just received this word:

"I had to get you this news: House Republicans just passed a bill that would actually raise student loan rates, while locking in super low rates for the big banks.

It's the exact wrong move for our country -- and it sets up a showdown with the Senate, where Senators like Elizabeth Warren, Tammy Baldwin, and Kirsten Gillibrand are fighting hard to keep rates for students low.

We can't let John Boehner set the terms of this debate.

We have to make sure a strong, progressive plan passes the Senate, one that prioritizes investing in our children over Wall Street banks.

DFA is pouring everything we've got into this fight.
Thanks for all you do,

Sam

Sam Levor, Finance Deputy
Democracy for America"
 

Bryna Pizzo (139)
Thursday May 23, 2013, 4:44 pm
Thank you! (s, n, p, t)
 

Mitchell D. (130)
Thursday May 23, 2013, 4:45 pm
Noted and signed. I have to guess that this hypocritically named act was proposed by Repugs, who give not a whit of a damn about the middle class students the act would impact.
 

Bryna Pizzo (139)
Thursday May 23, 2013, 4:46 pm
We are worth more dead than alive because of student loan debts. We owe more on the student loans than we owe on our house, and I will be fifty four, and my husband will be fifty eight. Yikes! Now that is frightening.
 

JL A. (275)
Thursday May 23, 2013, 4:49 pm
You are welcome Nicole and Bryna!
You cannot currently send a star to Mitchell because you have done so within the last day.
 

Sara W. (110)
Thursday May 23, 2013, 4:53 pm
Gladly signed. Thanks!
 

Angelika R. (146)
Thursday May 23, 2013, 4:56 pm
thx, cannot sign at visit site but have taken the other action and at least 2 more on this earlier.
 

JL A. (275)
Thursday May 23, 2013, 5:03 pm
You are welcome Sara and Angelika!
You cannot currently send a star to Angelika because you have done so within the last day.
 

Natasha Salgado (518)
Thursday May 23, 2013, 5:14 pm
Unable to sign. Noted!
 

Roseann D. (178)
Thursday May 23, 2013, 5:25 pm
Why am I not surprised??? Anything to hurt the American people. This is what happens with the GOP in charge of the House.
 

JL A. (275)
Thursday May 23, 2013, 5:29 pm
Thanks for trying Natasha!
 

John B. (215)
Thursday May 23, 2013, 5:47 pm
Thanks JL for posting the update to this here on C2NN. Signed earlier today through a email alert but was not pleased to hear the House passed the Bill. Now it's up to the Senate to make sure a responsible Bill gets to the President Obama. Post noted.
 

Mary T. (291)
Thursday May 23, 2013, 5:48 pm
Signed & Noted - sent to Congressman George Miller
 

JL A. (275)
Thursday May 23, 2013, 5:49 pm
You are welcome John.
You cannot currently send a star toJohn because you have done so within the last day.
You cannot currently send a star to Mary because you have done so within the last day.
 

JL A. (275)
Thursday May 23, 2013, 8:07 pm
Update: Obama has threatened a veto if this bill reaches his desk. Petition to support him in that position:
http://www.care2.com/news/member/798753001/3584855
 

F gonefourdays F. (110)
Thursday May 23, 2013, 10:41 pm
This rancid bill must not become law! Signed, shared and sent to Representative Earl Blumenauer, and signed Beverly's as well. Thanks JL.
 

Marianne B. (113)
Thursday May 23, 2013, 11:14 pm
Gladly signed. I have 2 grandaughters who are waitressing to help pay. I'm afraid they won't be able to afford to graduate. I worked for a Doctor/specialist for one year who bragged he never paid his student loans. Why can't you go after these deadbeats?
 

Lynn D. (0)
Friday May 24, 2013, 3:38 am
noted with thanks!
 

Gloria picchetti (286)
Friday May 24, 2013, 4:06 am
I already signed a lot of petitions about student loans. Don't we want college graduates in the US anymore? Or is the whole damned country going to work and shop at walmart?
 

Past Member (0)
Friday May 24, 2013, 4:33 am
So VERY Done! Thank you JL.
 

paul m. (93)
Friday May 24, 2013, 4:51 am

Signed....Students should have a grant and not a loan.....See what Sen. Ryan says....
 

John Gregoire (254)
Friday May 24, 2013, 5:02 am
I would rather a program of student loans that demands payback in the form of a period of government service in or out of uniform. Sorry Paul, grants are freebies and in this world we have to work for what we want or think we need.
 

Nikki J. (15)
Friday May 24, 2013, 5:07 am
It's surprising that in an ever changing world generally decision we make when we were teenagers stick with us - I was a very young, naive teen (young adult into my 20s) but still societyband governement legislation made me make decisions I just wasn't ready for and consequently find it hard to do what I want, what I love and what make me happy because I my qualifications from that period state other experience. I have been trying now for over 10 years and throughout this time I have been consistently told I am too old (only in my 30s) so what is life got to offer later .... my friends who left school at 16 are happy, earn more and can do more than I can - I suggest universities are closed let's just working through developing and evloving life skills in our ever changing world. Paper qualifications don't mean much.

I have paid my student loans, have many qualifications to show for my achievements but I am not happy because I cannot get the paid job I want, know I can do because I have proved it by doing it it for free. We live in a capitalist world, it's time I was paid for my excellence.
 

Ro H. (0)
Friday May 24, 2013, 5:13 am
ty
 

Ro H. (0)
Friday May 24, 2013, 5:17 am
ty
 

Past Member (0)
Friday May 24, 2013, 5:56 am
Noted but couldn't sing because it didn't like my ZIP code.
 

Gene Jacobson (251)
Friday May 24, 2013, 6:13 am
"The bill would move student loans away from a fixed interest rate to one that varies depending on the market interest rate. Under that calculation, interest rates are projected to more than double in only a few years. In addition, students would be faced with a different interest rate every year even during repayment. This makes it difficult for them to be smart borrowers and plan for the amount of debt they can afford to borrow."

It really is more nefarious than that. Their ultimate aim is to turn these loans over to banks, which would be able to collect big interest from children as they enter the work force. This benefits not students, but banks. That's why the Republicans want it. And again, they name it something opposite of what the actual intent is. The republican party has at its core grown corrupt, rotten, overcome with greed and NO interest in the interests of the American people. We want a well-educated workforce for the future, this is one way of making sure that doesn't happen. Are these people working for China? The good news is this won't get out of the Senate and the President will veto it, if it does. Education should be as cheap as possible in order to encourage more of our young people to avail themselves of it. THAT is in the national interest, this is not.
 

Dandelion G. (385)
Friday May 24, 2013, 6:32 am
Thank you for taking action!

The Federal Reserve gets to create money out of thin air.

Banks receive loans at low interest rates, even taxpayers money, and they then charge students and the rest of us high interest rates.

Great system for the Banksters...

This system is a great way to create more indentured servants. So many of the friends my daughters age is having to move back home to their parents. They can't afford to pay off the loans and move out on their own.

Too many can't find jobs that pay enough to pay the loans they have, jobs are not at all there or the employers are paying lower wages now. As cost of the education went up, the salaries stagnated.

In some Countries they pay for the students College the same way we do for grades 1 - 12.
Those Countries feel that all citizens benefit, when the best and brightest can achieve their goals and dreams. That way the brightest is performing the surgery, or running a business, or teaching your child, not just the student who happened to come from a family who had the money to send their child.

This dog eat dog society we live in, works for only a few at the expense of the many. We could be living in a society where all members are of value to this Country and to each other. This Country talks a good talk but doesn't walk the walk.
 

Arielle S. (316)
Friday May 24, 2013, 6:55 am
Isn't this how mortgages got to be such a disaster? As if they don't know what they are doing....

And yes, in some countries, colleges are paid for because they value a good education. Of course, here if we are well-educated, we do not tolerate the kind of yahoos we seem to have in Congress these days...
 

Daniel Partlow (189)
Friday May 24, 2013, 7:06 am
S&N
 

Beverly M. (85)
Friday May 24, 2013, 7:26 am
Noted and signed ~ Thank you JL! They'll bail out their bank buddies but not help our youth. When they voted on this yesterday I wasn't surprised at all.
 

JL A. (275)
Friday May 24, 2013, 8:16 am
You cannot currently send a star to Marianne because you have done so within the last day.
You cannot currently send a star to Gene because you have done so within the last day.
You are welcome Fran, Lynn, Lynn, Ro and Beverly.
 

Carol D. (108)
Friday May 24, 2013, 9:28 am
noted thanks
 

Micheael Kirkbym (85)
Friday May 24, 2013, 9:47 am
Done
 

Bryna Pizzo (139)
Friday May 24, 2013, 10:20 am
Thank you! Could not currently send a green star. (s, n, p, t)
 

Jo S. (489)
Friday May 24, 2013, 10:53 am
I can't believe what I am reading, increase student loan rates? Are these people out of their minds? These kids graduating from colleges can't even find a job, never mind worrying about paying back the loans. They are moiving home with Mom & Dad. And these lunatics want to increase the loan rate? I'd like to know what they are smoking!
Thanks so muchh, JL.
Noted,signed & shared .
 

Robert S. (115)
Friday May 24, 2013, 10:54 am
Your e-mail message was sent to:
Representative Jerrold Nadler (D-NY 10th)
 

JL A. (275)
Friday May 24, 2013, 10:56 am
You are welcome Carol and Joanne.
You cannot currently send a star to Michael because you have done so within the last day.
You cannot currently send a star to Bryna because you have done so within the last day.
 

Jason R. (58)
Friday May 24, 2013, 11:04 am
When will all of the republicans get the boot in the a$$ like they deserve?
 

Dotti Lydon (116)
Friday May 24, 2013, 5:44 pm
I think that all we can do now is to push President Obama to veto this. I have signed too many petitions to count.
 

Birgit W. (144)
Friday May 24, 2013, 7:33 pm
US only, thank you.
 

Robbin McManus (86)
Friday May 24, 2013, 7:54 pm
We really need this not to pass. Vote no and ask your friends and people you don't even know to vote no.

Tkx. for posting JL
 

Sheila D. (25)
Friday May 24, 2013, 8:44 pm
Noted and signed. Thanks, JL. This is just one more stupid stunt the Republicans will try to push through rather than raise taxes on the richest 3-5%. Disgusting.
 

Esther Z. (101)
Friday May 24, 2013, 10:05 pm
Noted and signed.
 

JL A. (275)
Friday May 24, 2013, 11:01 pm
You are welcome Birgit and Robbin
 

Helen Porter (40)
Friday May 24, 2013, 11:05 pm
Here's the text I added.

If Student Loan Interest Rates double, it will force a great increase in the cost of professional services. How else can the students pay off those blood sucking loans? They have families to feed, must dress expensively and have many other expenses which must be met including overhead for their businesses.

Students have it hard enough in this economy. Why add to their difficulties?
Shouldn't we be encouraging them?
 

Sherri G. (111)
Saturday May 25, 2013, 12:19 am
Signed, sent, and noted. We must not allow this to happen. Education has been too expensive for too long. Thanks JL
 

Lindsay Kemp (1)
Saturday May 25, 2013, 3:49 am
Students in a lot of places are really having a tough time, especially those from lower income families, and since this economic situation developed 5 years ago, we should all have learnt by now that almost any of us could be facing job loss, hours reduction, overtime bans etc. etc. that impact our income.

In the UK, students starting now with no financial help or bursaries or grants can expect to leave university after a 3 year course with a debt of 45,000. If they find a partner at university with similar debt, their combined debt is 90,000. Might be a drop in the ocean to those who pass these bills, but to those of us in the real financial world, that sort of debt level would be prohibitive.

Need I say more?
 

Ro H. (0)
Saturday May 25, 2013, 4:35 am
ty
 

paul m. (93)
Saturday May 25, 2013, 5:06 am

Signed...
 

Abdessalam Diab (153)
Saturday May 25, 2013, 6:07 am
Noted but couldn't sign.Thanks Jill/Lucy
 

Abdessalam Diab (153)
Saturday May 25, 2013, 6:09 am
Sorry. I meant thanks JL for posting,Thanks Lucy for forwarding
 

John S. (300)
Saturday May 25, 2013, 6:51 am
"The bill would move student loans away from a fixed interest rate to one that varies depending on the market interest rate. Under that calculation, interest rates are projected to more than double in only a few years. In addition, students would be faced with a different interest rate every year even during repayment. This makes it difficult for them to be smart borrowers and plan for the amount of debt they can afford to borrow." Maybe they shouldn't have gone to college.
 

Past Member (0)
Saturday May 25, 2013, 9:44 am
Thank you for taking action! Now please go one step further and renew your membership or join AAUW's powerful network. TU JL
 

JL A. (275)
Saturday May 25, 2013, 10:32 am
You are welcome Sherri, Ro, Abdessalam and Armand.
You cannot currently send a star to Sherri because you have done so within the last day.
You cannot currently send a star to Lindsay because you have done so within the last day.
 
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