DO NOT DOUBLE THE STUDENT LOAN INTEREST RATE!

We need a trained and educated population NOW, MORE THAN EVER!!!  Doubling the interest rate at a time when there are NO JOBS, is crazy. Tell President Obama to veto any plan that doubles the interest rate or has a variable rate during the course of the loan.

The House plan, however, would cap rates at 8.5 percent but would not fix them, meaning borrowers would be subject to varying rates over the life of the loan.                                                               Under the House plan, a student who took out the maximum amount of federal loans would  pay $14,430 in interest, nearly $2,000 more than they would pay if rates doubled as scheduled and twice what they would pay under current rates. “The bill’s changes would impose the largest interest rate increases on low- and middle-income students and families who struggle most to afford a college education,” the White House said in issuing the veto threat last week.

http://www.alternet.org/education/obama-pressures-congress-avoid-doubling-student-loan-interest-rates?akid=10514.294211.sq1-0D&rd=1&src=newsletter849201&t=19