College tuition debts prompt complaints

By on June 11, 2013

More than 2,000 members take student debt stories to elected officials before its July 1 deadline.

At times paying for college seems all about the Benjamins...

At times paying for college seems all about the Benjamins…

With interest rates set to double July 1, Congress and the Obama administration appear locked in a stalemate over how to fix the problem.

Unless Congress and the administration act, rates on new subsidized federal student loans will go from 3.4 percent to 6.8 percent. Subsidized loans, unlike unsubsidized loans, do not accrue interest while students are in school.

On Friday, more than 2,000 members around the country delivered their student debt stories to their local members of Congress.

The action follows up an emergency phone briefing that Sen. Elizabeth Warren (Democrat of Massachusetts) held earlier this week and that was joined by more than 10,000 MoveOn members.

The deliveries included at least 2,003 MoveOn members visiting 359 representatives’ and senators’ home offices in support of Sen. Warren’s Bank on Students Loan Fairness Act. It delivered their and other MoveOn members’ personal stories of struggle involving student loan debt — demonstrating just how many people are impacted by the student debt crisis.

Friday was the first in a series of online and on-the-ground actions MoveOn members will be taking before July 1 — the date when federal Stafford student loan interest rates are set to double.

MoveOn members will also participate in a June 24 National Day of Action. More than 440,000 MoveOn members have signed Sen. Elizabeth Warren’s MoveOn petition calling for students to receive the same low interest rates on their loans that the big Wall Street banks receive.

Carlene Robinson
News Editor

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