Student loans to skyrocket?

      Comments Off on Student loans to skyrocket?
English: Day 3 of the protest Occupy Wall Stre...

English: Day 3 of the protest Occupy Wall Street in Manhattan’s Zuccotti Park. (Photo credit: Wikipedia)

Student loans have been a target lately. Even at fixed rates, it is enough to scare the pants off young people looking to start their lives. My daughter was freaking out at the prospect of starting life $80,000 or more in debt.

Now it can get even worse.

Here is an email that I got from MoveOn this morning –

**Join an emergency online briefing on the student loan fight with special guest Sen. Elizabeth Warren on Monday, June 3—click here to RSVP.** 

Dear MoveOn member,

The fight over student loans is coming to a head. More than 434,000 (!) MoveOn members—including you—have signed on in support of Sen. Elizabeth Warren’s bill for students to get the same low rates on their loans as the big banks do.
But with student loan rates set to double on July 1 if Congress does nothing, Republican Members of Congress took a massive step backward. Last week the Republican-controlled House voted to get rid of fixed-interest loans for students entirely—a devastating move which could result in “ballooning financing costs” for new graduates struggling to get by.1
If thousands of people like us don’t get involved in this fight now, student loan rates could double—or worse—in just over a month. So we’re holding an emergency online briefing on Monday, June 3 at 9 p.m. ET with Sen. Elizabeth Warren to talk about the student loan fight, understand some potential solutions, and make sure we’re all ready for the monthlong fight ahead.
All you need to join is a computer with an internet connection. Can you join us?
Here are the details: 
What: Special Student Loan Briefing with Sen. Elizabeth Warren
When: Monday, June 3, 9 p.m. ET (8 CT/ 7 MT/ 6 PT)
Where: website—we’ll send you the details when it gets closer.
Click here to tell us you’ll be listening in—and submit a question for Sen. Warren:

Yes, I’ll be there.

Republicans in Congress are used to holding middle-class families hostage to extract concessions from Democrats for their radical agenda. But this time can be different. Sen. Warren came out of the gate 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—and she 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.
I’ll be part of the emergency briefing with Sen. Warren, and I really hope you can join me at this moment. Please click here to RSVP:
Thanks for all you do.
–Anna, Linda, Joan, Bobby, and the rest of the team
1. “U.S. House Votes to Avert Student Loan Rate Increase,” Bloomberg, May 23, 2013

Want to support our work? MoveOn Civic Action is entirely funded by our 8 million members—no corporate contributions, no big checks from CEOs. And our tiny staff ensures that small contributions go a long way. Chip in here.


Do you have kids that this may affect?


Enhanced by Zemanta