Did you know that if Congress does not step in, the student loan interest rates will double on July 1st? Already some students are heading out of college with $25,000 of student loan debt on their shoulders. And did you know that the total student loan debt in the United States is higher than the total credit card debt?
As difficult as it is for people seeking jobs in the current economy, imagine having to do it starting out with a $25,000 debt and the interest rates doubling on you. Not a pretty picture.
Please sign the petition to urge your congressman/woman to stop the automatic increase to the student loan interest rates.
24% of Students with $25,000 of Student Loan Debt
"Twelve years ago only one-third of college graduates from four year public colleges needed to borrow money to attain a college degree and graduates who borrowed carried around $12,000 of debt on average. Today more than two-thirds of graduates have federal student loan debt and carry over $23,000 on average. The percentage of students with $25,000 worth of private student loan debt has increased, from 5% in 1996 to 24% in 2008." (Read more at: http://studentpirgs.org/campaigns/sp/affordable-higher-education)
President Obama Live on Jimmy Fallon Late Night
President Obama has also asked Congress to step in and stop the increase. And in an unprecedented move, the President appeared on the Jimmy Fallon late night show and did a "slow-jam" of the news. The crowd cheered and gave him a standing ovation.
Maybe if Congress had as high a regard for the President as the Jimmy Fallon audience (University of North Carolina Chapel Hill), things would get accomplished in Washington. It's time to get together and change the things that need changing... Watch the Pres "get it on"...