To: President Donald Trump, The United States House of Representatives, and The United States Senate
Student Loans Should Have Same Rate Big Banks Get
Right now the federal government offers far lower interest rates for loans every single day. They just don’t do it for everyone.
Right now the Big Bank can get a loan through the Federal Reserve discount window at a rate of about three quarters of one percent. But students’ college loans interest rates remain about 6-7%. Most homeowners were able to refinance their homes with very low rate of 2-4%, but this option isn’t available for students who accumulated big loans in order to complete their four year college degree.
In other words, the fed government is going to charge students interest rates nine times higher than the rate they charge the biggest banks. The same banks that destroyed millions of jobs and nearly broke the economy.
Elizabeth Warren introduced legislation to give students the same deal that we give the banks. We need to support her and ensure the legislation passes.
Right now the Big Bank can get a loan through the Federal Reserve discount window at a rate of about three quarters of one percent. But students’ college loans interest rates remain about 6-7%. Most homeowners were able to refinance their homes with very low rate of 2-4%, but this option isn’t available for students who accumulated big loans in order to complete their four year college degree.
In other words, the fed government is going to charge students interest rates nine times higher than the rate they charge the biggest banks. The same banks that destroyed millions of jobs and nearly broke the economy.
Elizabeth Warren introduced legislation to give students the same deal that we give the banks. We need to support her and ensure the legislation passes.
Why is this important?
I am a single mother who raised her two children all alone. They both graduated from University of Florida; each received two degrees with honors. Though both had bright future scholarships, but the living and other expenses such as extracurricular fees at UF became too expensive. They both have a loan that is accumulating because of an interest rate of 6.8%. I was able to refinance my home when I lost my job, but my children are unable to refinance their student loan with lower rates.
This isn’t fair; Elizabeth Warren introduced legislation to give students the same deal that we give the banks. This isn’t fair; Elizabeth Warren introduced legislation to give students the same deal that we give the banks. Let’s support her
This isn’t fair; Elizabeth Warren introduced legislation to give students the same deal that we give the banks. This isn’t fair; Elizabeth Warren introduced legislation to give students the same deal that we give the banks. Let’s support her