Interest rates on some federally backed student loans are set to DOUBLE on July 1, and our elected officials on Capitol Hill are the only ones who can stop it. But instead of standing up for students, members of Congress have made political grandstanding a bigger priority. Right now, they’re pointing fingers and trading election-year barbs in the press rather than working together to solve this crisis.
College students like Clarise McCants cannot afford further inaction. “Even with grants and scholarships, I still have to rely on loans to pay for college,” she says. “If my interest rate doubles, it’ll take me even longer to dig my way out of debt after I graduate.”
Clarise is just one of the more than 7 million students who will be burdened by even greater debt if Congress fails to deliver a solution before the end of June. The U.S. economy is already being dragged down by the more than $1 trillion Americans owe in student debt. With college tuitions skyrocketing, Washington should do everything it can to make it easier — not more difficult — for hard-working students to learn their way to a brighter future.
“If the July deadline passes, there will be very real consequences for millions of students just like me,” Clarise says.
The clock is ticking. Tell Congress to stop the political theater and ACT NOW!