Wednesday, May 16, 2012
A letter from Bob Menendez
After all our middle-class families have gone through, I can’t believe we’re discussing increasing the interest rates on student loans. I really can’t.
Jobs are scarce; the need for skilled workers is critical. Yet Republicans are filibustering legislation that would keep student loan interest rates from doubling on June 30. They’re doing it to protect tax loopholes for their billionaire supporters.
It’s as if they’re from another planet.
We can’t have this kind of thing happen when people are fighting so hard just to get by. A little common sense, reason and fairness can get a bill passed.
Our families and students deserve more from us. It’s time for the games to end and Republicans to help us stop student loan rates from doubling.
I was the first in my family to go to college. I’m proud of that, and my family is too.
The son of a carpenter and a seamstress, my parents taught me early on how important it was to learn, to grow, to value education. It took federal grants and student loans to see our dream of higher education through.
We’re really on the verge of taking that opportunity away to preserve unnecessary tax loopholes? Our kids deserve better.
For students struggling to pay for college and racking up debt, this argument’s not academic or theoretical. The extra $1,000 that the average student would have to pay each year if we can’t get this done is real money. To them, the jump from 3.4% to 6.8% means something.
It’s the difference between being able to repay their loans and enter the workforce with good credit – opposed to being overwhelmed by debt to the point that they may never catch up.
That, to me, is unacceptable. I know it is to you, too.
Click here to join me in sending that message to Republicans. We only have until June 30 to pass this legislation.
Let’s stand with our students, right now.