Where Will You Be On #StudentDebtDay?
Campus Progress Action, along with a coalition of national partners, are gearing up for Student Debt Day tomorrow—where hundreds of college students and young people will meet on Capitol Hill to ask their Senators to prevent the Stafford interest rate from doubling to 6.8 percent before the fast-approaching July 1 deadline.
Senator Tom Harkin (D-IA), and Senator Jack Reed (D-RI)—who both co-sponsored legislation to prevent the rate hike—will be speaking with students and youth activists at a rally, along with the director of Campus Progress Anne Johnson. College students will also share their debt at the rally, which will be held at the Senate Swamp on the Northeast side of the U.S. Capitol building
Although there is bipartisan support for keeping the cap on the Stafford interest rate frozen at the current 3.4 percent, there hasn’t been agreement on how to pay for the $6 billion cost of the extension. Democrats have proposed creating revenue to cover the cost by closing a tax loophole that currently lets wealthy business owners to pay less than their fair share in Social Security and Medicare taxes, while Republicans have proposed slashing the Prevention & Public Health Fund clause of the Affordable Care Act, which would provide assistance for states and communities in the fight against diseases, such as diabetes, heart disease, cancer and strokes.
Asking middle-class Americans to choose between their health and keeping college costs low for close to 8 million students is a false choice, so we’re getting young people from all across the nation to voice their concerns to Congress to encourage them to take real action before close to 8 million students are submerged even deeper in debt.
Naima Ramos-Chapman is an associate editor at Campus Progress.
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