Save Our Students from College Loan Debt
Q-A-on-Boehner-bill.pdf | 13.5 KB
May 18, 2004
Today, the average college student graduates with over $17,000 in loan debt for their education. As college tuition climbs each year, that debt load is only expected to grow. But rather than helping make higher education more affordable for today’s students, some in Congress are pushing legislation that actually would add to graduates’ student loan debt burden. The legislative proposal (H.R. 4283) would eliminate graduates’ ability to lock in low, fixed-interest rates when they consolidate their student loans. This ability to lock in a low rate recently has been enjoyed by millions of homeowners who have refinanced their home loans, but under the bill, students would have to consolidate their loans at a variable rate, which is expected to go up in coming years.