Student Loan War Hits Snag
March 25th, 2007 by Student Loan Tax
WE ARE OPPOSED TO H.R. 5 AND YOU SHOULD BE TOO!
The government is taking money out of YOUR POCKET, AGAIN.
Call and E-mail Your Senator and Sign Our Petition.
Outright Deception?
Politicians are parading the benefits of the new student loan legislation while hiding its true features. Case in point is the Student Relief Act that was just passed by the House.
• Students were told they would have interest rates cut from 6.8% to 3.4%.
• Borrowers would save approximately $4,300 over the course of several years.
• The truth is that the 3.4% rate only applies for one year: 2011-2012.
• Purported savings of $4300 is nowhere near the real figure, as that amount was based upon a 3.4% rate from 2007-2012.
• This representation is not only blatantly false, but perhaps an outright attempt to mislead the public.
Prophecies Becoming Reality?
In a recent article I read college officials expressed their concern, “worried that the plan might end up helping even fewer students” than originally intended.
Unfortunately, this may soon become reality.
Hopefully, though, more and more people are starting to realize the smoke and mirrors machinations of our politicians as well as the potential outright deception that has been foistered upon us by our public servants (read politicians).
The real question may be, how much longer are we going to put up with it? Let’s just hope that this “short-term” snag doesn’t become a long-term pattern…
Take Action Now!
Call and E-mail Your Senator and Sign Our Petition.
college funding college student loan legislation College Student Relief Act HR5 Student Loan Tax Student Loans Sunshine Act UncategorizedPosted in HR5, Sunshine Act, Student Loan Tax, Student Loans, College Funding, College Student Relief Act |