Tag Archive | college students

Federal Student Loans: Tell Congress to Keep College Affordable for Students and Working Families

serious woman face

Tell Congress to Keep College Affordable for Students and Working Families. US Senator Elizabeth Warren came out with a bold proposal to have students pay the same interest rate on student loans as the big banks pay on their loans while Congress figures out a long-term solution to the problem.

Senator Warren needs our help to get more attention for it in the halls of Washington, in the media, and across the country. We can win this fight and show that Congress needs to respond to an agenda that works for us—not their big corporate backers—but only if we organize together in our communities, on college campuses, and everywhere our representatives can see us in this crucial month ahead.

On July 1, 2013, student loan rates doubled. In June, the Republican controlled House of Representatives voted to eliminate the fixed-interest loans for students entirely. This was a devastating move which could result in “ballooning financing costs” for new graduates struggling to survive in these particularly difficult economic times.

Stafford Loans are federal student loans made available to college and university students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Stafford loans regardless of credit. Stafford loans may be subsidized by the U.S. Government or unsubsidized depending on the student’s need. Stafford loan interest rates for 2012-2013 are currently unknown.

A 2007 law that reduced the interest rate on Stafford Loans from 6.8 percent to 3.4 percent is was extended by one year. Without legislative action, subsidized Stafford loans returned to the 6.8 percent interest rate on July 1, 2013.

Each year, more than ten (10) million students use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is very difficult for many students, and the increase in interest rates would cause a college education to be out of reach for many college age people. With that knowledge, we must act to ensure that Congress passes legislation to stop student loan interest rates from doubling this summer.

Stafford Loan Information: Eligibility
You must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen accepted for enrollment or attending a school that participates in the Federal Family Education Loan Program. Additionally:
• You must have submitted a FAFSA to be eligible for a Stafford loan
• For subsidized Stafford, you must have financial need as determined by your school
• You must be enrolled or plan to enroll at least half time

When Stafford loan rates doubled, countless students were affected. “We tell our children to get an education, and we owe it to them to keep that door to higher education to the middle class open.” Stafford loans have provided an opportunity for tens of millions of Americans to attend college.

A whopping 7% Stafford interest rate means that our students will be carrying our nation’s deficit. Meanwhile, banks borrow from the federal reserve at an interest rate of about 0.75%. Something just doesn’t add up. Getting an education shouldn’t mean financial devastation. Ask Congress not to double student interest rates!

For up-to-date information on this issue, check out the Student Loan Network Blog.

Tell your elected officials in Washington, DC to take swift action to pass the legislation to keep college affordable for students and working families.

Source(s): MoveOn Action Alert May 28, 2013. MPRNews On Campus, January 30, 2012. http://www.mndaily.com. http://www.staffordloan.com/stafford-loan-info/.
Photo credit: Microsoft Clip Art

Tell Congress to Keep College Affordable for Students and Working Families

depressed teen girl

Tell Congress to Keep College Affordable for Students and Working Families. US Senator Elizabeth Warren came out with a bold proposal to have students pay the same interest rate on student loans as the big banks pay on their loans while Congress figures out a long-term solution to the problem.

Senator Warren needs our help to get more attention for it in the halls of Washington, in the media, and across the country. We can win this fight and show that Congress needs to respond to an agenda that works for us—not their big corporate backers—but only if we organize together in our communities, on college campuses, and everywhere our representatives can see us in this crucial month ahead.

On July 1, 2013, student loan rates are set to double. Last week, the Republican controlled House of Representatives voted to eliminate the fixed-interest loans for students entirely. This was a devastating move which could result in “ballooning financing costs” for new graduates struggling to survive in these particularly difficult economic times.

Stafford Loans are federal student loans made available to college and university students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Stafford loans regardless of credit. Stafford loans may be subsidized by the U.S. Government or unsubsidized depending on the student’s need. Stafford loan interest rates for 2012-2013 are currently unknown.

A 2007 law that reduced the interest rate on Stafford Loans from 6.8 percent to 3.4 percent is was extended by one year. Without legislative action, subsidized Stafford loans will return to the 6.8 percent interest rate on July 1, 2013.

Each year, more than ten (10) million students use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is very difficult for many students, and the increase in interest rates would cause a college education to be out of reach for many college age people. With that knowledge, we must act to ensure that Congress passes legislation to stop student loan interest rates from doubling this summer.

Stafford Loan Information: Eligibility
You must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen accepted for enrollment or attending a school that participates in the Federal Family Education Loan Program. Additionally:
• You must have submitted a FAFSA to be eligible for a Stafford loan
• For subsidized Stafford, you must have financial need as determined by your school
• You must be enrolled or plan to enroll at least half time

If Stafford loan rates doubled, countless students would be affected. “We tell our children to get an education, and we owe it to them to keep that door to higher education to the middle class open.” Stafford loans have provided an opportunity for tens of millions of Americans to attend college.

A whopping 7% Stafford interest rate means that our students will be carrying our nation’s deficit. Meanwhile, banks borrow from the federal reserve at an interest rate of about 0.75%. Something just doesn’t add up. Getting an education shouldn’t mean financial devastation. Ask Congress not to double student interest rates!

For up-to-date information on this issue, check out the Student Loan Network Blog.

Tell your elected officials in Washington, DC to take swift action to pass the legislation to keep college affordable for students and working families.

Source(s): MoveOn Action Alert May 28, 2013. MPRNews On Campus, January 30, 2012. http://www.mndaily.com. http://www.staffordloan.com/stafford-loan-info/.
Photo credit: Microsoft Clip Art

Tell Congress to Keep College Affordable for Students and Working Families

Stafford Loans are federal student loans made available to college and university students to supplement personal and family resources, scholarships, grants, and work-study. Nearly all students are eligible to receive Stafford loans regardless of credit. Stafford loans may be subsidized by the U.S. Government or unsubsidized depending on the student’s need. Stafford loan interest rates for 2012-2013 are currently unknown.

A 2007 law that reduced the interest rate on Stafford Loans from 6.8 percent to 3.4 percent is about to expire. Without legislative action, subsidized Stafford loans will return to the 6.8 percent interest rate on July 1, 2012.

Each year, more than ten (10) million students use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is very difficult for many students, and the increase in interest rates would cause a college education to be out of reach for many college age people. With that knowledge, Senators Patrick Leahy and Bernie Sanders recently introduced legislation to stop student loan interest rates from doubling this summer.

Stafford Loan Information: Eligibility

You must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen accepted for enrollment or attending a school that participates in the Federal Family Education Loan Program. Additionally:

  • You must have submitted a FAFSA to be eligible for a Stafford loan
  • For subsidized Stafford, you must have financial need as determined by your school
  • You must be enrolled or plan to enroll at least half time

If Stafford loan rates doubled, countless students would be affected. “We tell our children to get an education, and we owe it to them to keep that door to higher education to the middle class open.” For up-to-date information on this issue, check out the Student Loan Network Blog.

Tell your elected officials in Washington, DC to take swift action to pass the bill to keep college affordable for students and working families.

Source(s): MPRNews On Campus, January 30, 2012. www.mndaily.com. http://www.staffordloan.com/stafford-loan-info/.

Photo credit: Microsoft Clip Art

HELP SOUND THE ALARM

Recently, MoveOn.org sent out several political action alerts regarding the federal budget cuts, one of which appears below. This particular action alert speaks to the proposed federal budget cuts to essentials programs and the resulting impact on countless Americans.

MoveOn.org states in the Political Action Alert that, “…the GOP budget is an […] attack on the American Dream. The Republican’s proposed budget cuts will force states to fire 65,000 teachers. [Eliminate] 700,000 jobs. And send 10,000 veterans into homelessness. […] With $100 billion in cuts, their budget would hit […] programs that just about every American depends on—all the while protecting tax giveaways for millionaires.” With that said, MoveOn.org is sounding the alarm and asks for your help to disseminate information about the proposed budgets and the impact on the most vulnerable members of our society.

MoveOn.org’s Political Action Alert on the federal budget cuts to domestic programs reads as follows:

“…It’s time to sound the alarm.

This week, Congress could cut a deal on the budget. And if Republicans get their way, billions will be cut from vital programs that millions of Americans count on—while tax cuts for the richest are protected.

But most people don’t have any idea what’s at stake—and how devastating these cuts would be to their communities—even though the cuts could take effect within weeks. So we’re launching an emergency campaign to spread the word. [They] want to [eliminate] programs with enormous public support, and hope no one notices. So it’s up to all of us to spark a public outcry before it’s too late.

The devastating impact these cuts will have on our country—and on your community—is unprecedented. Check out the list below. If we can get it out to a million people, we can start to sound the alarm […].

Top 10 Worst Things about the […] Budget
The […] budget would:
1. Destroy 700,000 jobs, according to an independent economic analysis.
2. Zero out federal funding for National Public Radio and public television.
3. Cut $1.3 billion from community health centers—which will deprive more than 3 million low-income people of health care over the next few months.
4. Cut nearly a billion dollars in food and health care assistance to pregnant women, new moms, and children.
5. Kick more than 200,000 children out of pre-school by cutting funds for Head Start.
6. Force states to fire 65,000 teachers and aides, dramatically increasing class sizes, thanks to education cuts.
7. Cut some or all financial aid for 9.4 million low- and middle-income college students.
8. Slash $1.6 billion from the National Institutes of Health, a cut that experts say would “send shockwaves” through cancer research, likely result in cuts to Alzheimer’s and Parkinson’s research, and cause job losses.
9. End the only federal family planning program, including cutting all federal funding that goes to Planned Parenthood to support cancer screenings and other women’s health care.
10. Send 10,000 low-income veterans into homelessness by cutting in half the number of veterans who get housing vouchers this year.”
“Sources:
1. “GOP spending plan would cost 700,000 jobs, new report says,” The Washington Post, February 28, 2011. http://www.moveon.org/r?r=206357&id=26412-18765278-Ua8allx&t=6
2. “GOP budget would cut funding for public broadcasting,” The Washington Independent, February 14, 2011. http://www.moveon.org/r?r=206513&id=26412-18765278-Ua8allx&t=7
3. “NACHC Statement in Response to the Budget from the House Appropriations Committee,” National Association of Community Health Centers website, accessed March 4, 2011. http://www.moveon.org/r?r=206514&id=26412-18765278-Ua8allx&t=8
4.”Bye Bye, Big Bird. Hello, E. Coli.,” The New Republic, February 12, 2011. http://www.moveon.org/r?r=206104&id=26412-18765278-Ua8allx&t=9
House Republican Spending Cuts Target Programs For Children And Pregnant Women. http://www.moveon.org/r?r=206566&id=26412-18765278-Ua8allx&t=10
5. “Obama and the GOP are Spending Cuts: Where’s the Outrage?” Mother Jones, February 18, 2011. http://www.moveon.org/r?r=206569&id=26412-18765278-Ua8allx&t=11
6. Ibid.
7. “Deficit Reduction on the Backs of the Most Vulnerable,” Center for American Progress, March 2011.
http://www.moveon.org/r?r=206518&id=26412-18765278-Ua8allx&t=12 (PDF)
8. “The GOP Budget and Cancer—Why New Research Is at Risk,” Politics Daily, February 27, 2011. http://www.moveon.org/r?r=206515&id=26412-18765278-Ua8allx&t=13
“Republican Budget Cuts at Heart of Medical Research: Albert Hunt,” Bloomberg, February 20, 2011. http://www.moveon.org/r?r=206516&id=26412-18765278-Ua8allx&t=14
“Durbin: Cuts to NIH put research jobs at risk,” Business Week, February 28, 2011. http://www.businessweek.com/ap/financialnews/D9LLSCB00.htm
9. “GOP Spending Plan: X-ing Out Title X Family Planning Funds,” Wall Street Journal, February 9, 2011. http://www.moveon.org/r?r=206105&id=26412-18765278-Ua8allx&t=15
10. “House GOP Spending Cuts Would Prevent 10,000 Low-Income Veterans From Receiving Housing Assistance,” Think Progress, March 1, 2011. http://www.moveon.org/r?r=206517&id=26412-18765278-Ua8allx&t=16.”

In closing, Moveon asked for our help to “…get the word out about this awful budget—right away. Please, share this with your friends.” With an equal amount on conscience, mind, heart, and collective action, we can improve the human condition.

Source(s):Moveon.org

Photo credit: Microsoft Clip Art