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June
29, 2001
Urge
Congress to Support Student Aid and to Keep Student Loan Rates
Affordable
Currently
Congress is considering a proposal to secure subsidies to
the loan industry in order to keep the loan program going.
Unfortunately, students are being told that they will have
to pay for much of the increased subsidy with higher interest
rates. Please contact your Senators and Members of Congress
and urge them to oppose any agreement that gives the loan
industry additional subsidies at the expense of students and
that does not ensure that students receive the lowest cost
loans possible.
This proposal
comes at a time when students are struggling with increasing
levels of debt. The average student graduates with more $13,300
in debt, an amount that is expected to increase when new figures
are released this year. Over the past seven years student
debt has more than doubled to $35 billion each year, and over
the past 3 years the number of students graduating with debt
over $20,000 doubled.
Also:
Call your
Senators and Members of Congress today and urge them to prioritize
student need-based aid in the 2002 appropriations process.
It is key to contact members now as the appropriations process
begins on July 9th after the congressional recess. Congress
has been focusing on K-12 education, healthcare and tax relief.
Members need to hear from students about the importance of
federal financial aid to students and families.
Make sure
to ask your representatives to support increased need-based
awards to students, especially a $600 increase in the maximum
Pell Grant award to $4,350. Pell Grants provide basic college
assistance to financially disadvantaged students. The grants
are the foundation of a low-income student's aid package.
Without them, millions of students could not attend college.
Action:
Call your
representatives today and urge them to a)oppose any agreement
that gives the loan industry additional subsidies at the expense
of students and that does not ensure that students receive
the lowest cost loans possible; and b) to increase the maximum
Pell Grant award by $600 and to increase other student aid
programs.
Call your
Senators and Members of Congress by using the student aid
hotline:
1 (800) 574-4AID.
Senate Switchboard: (202) 224-3121
House Switchboard: (202) 225-3121
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