- Target:
- United States Congress
- Region:
- United States of America
As you may or may not know, student loan interest rates have recently dropped to an all-time of low 4.06% (previously 8.25%).
Those of us who opted to consolidate and benefit by having just one monthly payment, ARE NOW BARRED FROM THE NEW LOWER RATES.
Congress will be voting on student loan issues in early 2003! The following is a petition intended to convince congress to pass legislature that would permit ALL student loan borrowers to benefit from lowered rates AT ANY TIME. We should have the freedom to choose to reconsolidate or keep our fixed rate according to what would financially benefit us most. Student Loans are a public service - they should serve us better!
We have more power to evoke change then you might think!
We, the undersigned, want legislation passed that would allow Student Loan Borrowers the option of reconsolidating their Federal Student Loans and benefiting from lowered rates.
The fixed rate component of the current consolidation program protects Borrowers from increased rates, but should not prevent their benefiting from lowered rates. If the Education Department is unable to absorb the costs of reconsolidation, we would support the implementation of a nominal fee to offset costs.
The goals of the Student Loan Program are "to successfully implement and manage the Direct Loan Program (by) providing flexible repayment options so that debt burden is eased and defaults are minimized (and to) maintain a high level of borrower satisfaction." (http://www.ed.gov/pubs/Biennial/95-96/eval/503-97.pdf for more information)
The Federal Student Loan Program is a public service -- it should SERVE US BETTER.
Please support Student Loan Borrower interests in Congress and the Senate!
You can further help this campaign by sponsoring it
The Petition the U.S. Congress to Enact Student Loan Program Reform petition to United States Congress was written by Isa Dean and is in the category Education at GoPetition.