WE ARE OPPOSED TO THE NEW STUDENT LOAN LEGISLATION 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.

If the new student loan legislation becomes law, it will:

1. double the fees for students who consolidate their loans, adding to student loan debt.
2. eliminate up to 2.25% in interest rate reductions for borrowers.
3. cause students to forfeit thousands of dollars in savings over loan term.
4. no longer allow borrowers to choose their Federal Family Education Loan Program (FFELP) lender, forcing them to go with the Federal Direct Lending Program (FDLP).

FDLP: A Bankrupt Solution

Truthfully, the switch from the FFELP to the FDLP would end up costing us big time, in the long-run. However, the short-term implications of making the switch are scary at best.

Here are the facts:

• The FDLP owes the government $105 billion but only has $89 billion in loans. That’s a $16 billion deficit.
• The FDLP hasn’t saved a dime since 1997, instead running a deficit each year for almost 10 years. (Remember, this is the program that will SAVE us money, somehow).
• The FDLP has been BANKRUPT since 1997. If run like a “real business,” it wouldn’t even exist today.
• The FFELP has been successfully serving and benefiting borrowers for 40 years. Since the FFELP isn’t government-run, it is efficient and hasn’t had a single deficit year.

You help us defeat the new student loan legislation.

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