WHITE HOUSE PETITION: support Elizabeth Warren's bill on student loans at same rate banks get 0.75%

[yurbud]

Last edited Fri May 24, 2013, 02:03 PM - Edit history (1)

You could also sign a similar petition your senators and congress rep via this Moveon petition and get this more visibility by signing the Moveon.org presidential petition as well as the direct White House petition.

If this gets 100,000 signatures, the White House MUST RESPOND to it, so send this to two of your friends, especially if they are buried under student loan debt.

[font size=3]support Elizabeth Warren's bill to give student loans same interest rate banks get from Federal Reserve: 0.75% [/font]

With some student loan rates set to double on July 1 -- from 3.4 percent to 6.8 percent -- Warren's bill would reduce student loan interest rates to 0.75 percent, opening the Fed's discount window to students.

This should be done to all existing student loans as well as new ones going forward.

This would free up money that would flow back into the economy in consumer buying, including things like first time home-buying.

Wall Street banks are getting those low rates to help them recover from the consequences of their own irresponsible and fraudulent behavior that crashed America's and the world's economy.

The only crime of most college students and graduates is wanting an education and a middle class standard of living.

We deserve at least as good a deal as big banks are getting.

Sign at http://wh.gov/JNiU

[djean111]

1. Done!

[yurbud]

2. thanks! it's got to get to 150 sigs before those who don't have the link can see it

forward to any debt slave friends.

[SamKnause]

3. Elizabeth

Done

[Mnemosyne]

4. K&R nt

[NYC_SKP]

5. Done and K and R. (nt)

[kelliekat44]

6. Done! We have a long way to go. Only 50 so far. nt

[onestepforward]

7. Done! n/t

[smirkymonkey]

8. Done!

Borrowed 50k and owe 130k due to compounded interest. (lost job after sept 11 for 1.5 years and had to go on forbearance because I could not afford to pay) Vultures!

[yurbud]

9. I borrowed $50K, paid off and on until it crept up to $107K

I got a master's and teach college, but it was harder to pay off loans when I was only offered part time jobs, none of which offered health insurance my first ten years, so I had to pay for medical expenses out of pocket.

[smirkymonkey]

11. K&R

[upi402]

10. She rocks

I hope she never once flies in a small plane. She will be President someday. Our next Roosevelt.

[smirkymonkey]

12. +10.000

[grahamhgreen]

13. Good start. Next: free college and .75% home loans.

[yurbud]

14. I agree

[yurbud]

15. IMPORTANT UPDATE: simplified contacting Congress on this and added Moveon petition

[yurbud]

16. viralize this to force White House response.

I doubt that Obama and Congress will pass this bill, but if 100,000 people sign it, he has to AT LEAST respond to it and address two uncomfortable issues at once:

1. Why Wall Street is getting continuous superlow interest bailouts in the tens of trillions from the Federal Reserve after their criminal conduct.

2. Why the rest of us are told to tighten our belts and suck it up in spite of number 1.

[RedCappedBandit]

17. DONE!

I start grad school in the fall. So stressed about the MONEY. Couldn't be happier we have Warren in our side.

[yurbud]

19. I have a master's degree and teach college, but couldn't make consistent payments for first 10+ yrs

after finishing grad school, in part because none of my job's offered health insurance, so I paid medical out of pocket (which was still cheaper than insurance).

During that time, interest doubled my loans from $50K to over $100K.

Now I'm making less than interest only payments and banking on public service loan forgiveness--but who knows if that will survive if Republicans ever retake the White House.

[RedCappedBandit]

24. I'm hoping to take advantage of public service forgiveness as well

I'm going into Social Work. I hope it's still an option by the time I would be eligible.

I hope it works out for you, yurbud.

[yurbud]

25. thanks

[treestar]

18. So is there some reason to think the President would veto this if it passed?

What a waste of time.

Try the filibustering Senators and House Republicans. How else could it end up at the WH?

[yurbud]

21. note the link to contact congress. And you know what, I would rather see the GOP vote against it...

than not have it brought up at all.

Current Democratic office holders don't seem to grasp those kinds of optics, which make it look like they are just giving up in the face of Republican intransigence.

[Neoma]

20. Done.

[yurbud]

22. thanks

[Neoma]

23. Thank you for pointing it out.

Just starting up in college again this fall. Kind of important.

[patrice]

26. K&R& Shared.

[yurbud]

27. thanks for both

[yurbud]

35. awesome, especially the shared part.

[On the Road]

28. The Proposed Higher Rates are a Travesty

Changing to 6.8% in midstream is a travesty. However, there is nothing wrong with a rate of 3.4%. That is lower than market without being a giveaway.

A rate of under 1% is too low to even begin to cover defaults. I this this is a statement rather well considered policy.

[yurbud]

29. I propose that the program not be entirely self-supporting--just as Wall Street, the oil industry

and so many other corporations aren't self-supporting but depend on subsidies, tax breaks, regulatory capture, and any number of legislative and regulatory action to maximize their profits.

[tosh]

30. Done - K&R.

[yurbud]

31. thanks!

[Motown_Johnny]

32. Done (+ K&R)

[yurbud]

33. thanks.

[Egalitarian Thug]

34. K&R&Done. n/t