Playing Politics with Student Loans by Sharon Day

Catherine, As Republicans work to find a permanent, bipartisan way to help families afford college, President Obama continues to bash House Republicans' recent efforts deal with America's skyrocketing student loan debt. House Republicans have produced reasonable, responsible legislation to deal with this problem, yet Democrats continue to play politics at the expense of college students and Americans who are struggling to find work. Instead of working with Republicans to reach a bipartisan solution, President Obama is picking fights over minor disagreements in the way the issue is addressed. Someone should remind President Obama that the election is over; there's no reason for him to make this a political wedge. This is why we need your help. Sign the petition to tell President Obama that it is time to stop playing politics with student loans. Thank you, Sharon Day Co-Chair, Republican National Committee

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Reply:

Yes, it is fiscally reasonable to ask college students to pay more for their student loans--but it isn't morally responsible to increase the cost of college, ESPECIALLY when that money isn't going back into the funds for future college students, but into the pockets of private banks.

I have 6 student loans to pay back--ALL of them are through private banks even though they are FEDERAL student loans. I do not believe that it's right for my rate to double simply because I obtained them during a time that Washington cannot get it's [excuse me] together. Republicans, I assume, have been fighting against banks that unfairly raise the rates of responsible homeowners, why not also fight in favor of the responsible college students?

I notice that there is no mention of what this "reasonable, responsible legislation" is--why haven't you enlightened us about it?--or are you afraid that a Democrat will steal it in it's early version and try to pass it off as their own?

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NOTE: I didn't mention this in my email and I'm not going to bother to add it now, but I think it's hilarious to word it as "skyrocketing student loan debt". It's one thing to fight against the "rising cost of a college education" (principal), but raising the interest rate ONLY raises the amount of debt a student has (principal plus interest). Republicans want to raise revenue in Washington by charging students more--the "skyrocketing student loan debt" they want to tackle is where Washington isn't getting their money back fast enough for their liking (not having enough money available for future students given the current rate of repayment). BUT, they'd actually get their principal back faster if they LOWERED the interest rate. My payments are currently about 65% interest accrued, 35% towards the principal. And I'm thinking that the Feds get a very small percentage of that interest, hence the Republicans interest in the issue (no pun intended).

At least they didn't include their fundraising spiel in this email.