Pages tagged "stafford-loans"

Senate Rejects Don't Double To Save Corporate Tax Loophole

Student loans are shackling millions. //Photo by ThisisBossi
There are not too many issues that are political no-brainers. Helping millions of student pay for college by preventing student loan interest rates from doubling was one of these issues.Today, Senate Republicans voted to defeat a bill to prevent student interest rates from rising. The impasse: whether Congress would pay for the bill by closing a tax loophole for corporate stock-holders or cutting preventative health care for poor Americans.With student debt surpassing $1 trillion dollars, it's clear where Congress's priorities are.“Republicans in the Senate just voted to expedite America’s new financial crisis and ensure that an entire generation of young Americans will graduate one step closer to poverty. Across this country, there are millions of students and graduates working two jobs while struggling to pay off student loans. For many of them the system is rigged. With their vote today, Republicans rejected their own party’s nominee as well as millions of young voters around the country that have been devastated by tuition rates that have tripled while receiving no relief," stated Rebuild the Dream's CEO Natalie Foster.Since February, Rebuild the Dream has been running a grassroots and media campaign in support of keeping the interest rate low on these loans. Rebuild the Dream members made approximately 4,000 phone calls to their Senators on Friday and Monday. We collected 1,100 stories of student debt from our members and developed some of the best ones into spokespeople in the key swing states for Senate votes. Previously, our members wrote 130,000 letters to their members of Congress and made 4,000 phone calls to the Senate in support of the legislation.