Student loans are supposed to help some of our brightest minds succeed and contribute to society. However, if you have to take out loans that are around 7% interest rate it becomes an overwhelming burden.
I am calling for all student loans from all loan providers to have their interest rate reduced to 0.9% effective immediately. This goes for loans past,present and future.
If I can get my car loan at 0.9% and a mortgage at less than 3.5% ,but then have to pay the government back at 7%... there is a real problem.
Why is this important?
I am starting this petition because I am one of the many in this country buried in student loan debt that seems to go nowhere.
I have no problem paying the loan back, but I do have a problem with the interest rates. It is out of control.
It is in no way beneficial for students to even go to college anymore without grants and scholarships. Taking out loans is shooting yourself in the foot and trapping people in debt. This is why I have started this petition. So that Americans can go to school and not be buried in debt for the next 10 to 25 years of their lives.
