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The numbers are staggering: The cost of college has increased 440% over the past 25 years,1 students are graduating with an average of $26,000 in college loans,2 and student loan debt is now at more than $1 trillion—more than the nation's combined credit card debt.3
But it could get even worse. Congress is on the verge of letting student loan interest rates double in just thirteen days. If we let that happen, we'll lose our best opportunity to provide relief for millions of students and graduates being crushed by student loan debt—and miss our chance to have a real national conversation about what investing in students might look like.
That's why MoveOn members coast to coast are rallying at the offices of members of Congress next Thursday, June 27, to send a clear message to Congress: Don't Double Our Rates!
We still need a host for an event near Inwood. Can you step up and lead? Click here to post your gathering for Thursday, June 27:
First pick a time and a location for your action and post it in MoveOn's online system, then we'll invite other MoveOn members in your area to attend and make sure you have everything you need for a successful Bank on Students action. And you'll be equipped with the latest updates on Sen. Elizabeth Warren's Bank on Students Loan Fairness Act, which would let students pay the same rates the big banks pay.
As Sen. Warren told 10,000 MoveOn members during an emergency briefing earlier this month, making sure student loan rates don't double on July 1 is the vital first step in taking on the student debt crisis that burdens so many American families today.
Thanks so much for all you do.
–Anna, Manny, Rosy, Linda, and the rest of the team
1. "Student Loan Debt Is a Beast. Here Are Elizabeth Warren's, President Obama's, and the GOP's Plans to Fix It," Mother Jones, June 3, 2013
http://www.moveon.org/r?r=290535&id=69701-10220574-heRkCyx&t=4
http://www.moveon.org/r?r=290535&id=69701-10220574-heRkCyx&t=4
2. Project on Student Debt, accessed June 17, 2013
http://projectonstudentdebt.org/
http://projectonstudentdebt.org/
3. "Who makes money off your student loans? You might be surprised," Yahoo News, May 23, 2013
http://www.moveon.org/r?r=290799&id=69701-10220574-heRkCyx&t=5
http://www.moveon.org/r?r=290799&id=69701-10220574-heRkCyx&t=5
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