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.

Recently the College Student Relief Act (HR5) was passed by the House of Reps. The SRA is the bill that pledges to reduce interest rates on some loans from 6.8% to 3.4%, promising to cut college costs and expand access to college.

Sounds Good, But Is It Really?

“It’s an incredibly expensive proposal with very little student aid benefit.”

This, from Mark Kantrowitz, the publisher of FinAid.org.

Here are some other things this respected industry leader says about H.R. 5:

• “The benefit, Mr. Kantrowitz notes, comes after students have graduated…”

• “Even though the lower interest rates could add up to more than $4,000 over the lifetime of a typical graduate’s loan, that would mean monthly payments only dropped by about $30.”

Here’s what others who are “in the know” are saying about H.R. 5:

• “‘cutting rates would do little to reduce their college expenses.’ He called the idea of reducing interest rates ‘frivolous’ and said it creates nothing more than a ‘headline sensation.’”– SLM Corp’s CEO, Tom Fitzpatrick

• “That’s because the legislation won’t really cut student loan interest rates; it will cut the portion paid by graduates.” – Leslie Carbone in Jan. 23, 2007 edition of the Baltimore Sun

• “It is unclear whether such a burden on taxpayers would help make college more affordable. It might do exactly the opposite: make higher education more expensive.”– Republican Rep. Jeff Flake of Arizona

Call and E-mail Your Senator and Sign Our Petition.