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Tag Archives: United States
Don’t let Congress double the student loan interest rate … Murshed Zaheed, CREDO Action
Stop Republicans from doubling the interest rate on student loans.
Dear Friend,
This is unbelievable. The interest rates on federal student loans will double this summer if Congress doesn’t take action.1
Millions of American students from working class families are able to obtain a college education thanks to low-interest federal student loans. But now Congress is putting those loans in serious jeopardy at a time when students and their families can least afford to pay higher interest rates.
Back in 2007, when the Democrats were in charge of both the Senate and the House of Representatives, Congress passed the College Cost Reduction and Access Act. It reduced the interest rates on subsidized Stafford loans incrementally over four academic years, from 6.8 percent at the time to the current 3.4 percent.2 The current Republican leadership in the House is planning to let this legislation expire on July 1, effectively doubling the interest rates on these loans. This will result in an average of $5,000 in additional payments for students who are scheduled to pay their loans backs in 5 years, and $11,000 for those who are paying back in 10.3
With Republicans in the House poised to double the interest on federal student loans, we need leadership from the Senate.Specifically, we need Senate Majority Leader Harry Reid to stand up and fight on behalf of millions of American students:
If Leader Reid leads the Democratic-controlled Senate to move first and take steps to pass legislation that ensures the interest rates remain fixed at 3.4 percent, it will force the hand of Congressional Republicans to either pass the measure or go on the record as the party fighting against the interest of millions of America’s working class students and their families.But we need both the House and the Senate to pass it before July 1, so we need to convey our sense of urgency to Senate Majority Leader Harry Reid today.
Federal student loans with low interest rates, such as the subsidized Stafford loan, are designed to benefit students whose families make under $40,000 a year — folks who can least afford to see their interest rates jump.4 These loans help the neediest students, who are often not eligible to receive Pell Grants. Adding further financial stress on these students and their families by letting the interest rates double this July would be devastating, especially given the extremely fragile state of our economy.
As Sarah Jaffe observed in her excellent piece in AlterNet:
“It’s worth noting, as well, that many of the big banks that make a killing on private student loans and still have billions of government-subsidized student debt on their books, are able to borrow money from the government through the Federal Reserve’s discount window at nearly no interest at all. Why, then, are young people, who aren’t guilty of trashing the economy but remain the victims of a rate of unemployment nearly twice that of the rest of the population, expected to pay more?”5
Now is the time for all of us to speak up on behalf of our students. Click here to automatically sign the petition and consider inviting students from your personal network to join the fight.
Click below to automatically sign our petition urging Senator Reid to fight to keep college education affordable and not let the interest rate double on federal student loans.
http://act.credoaction.com/r/?r=5541975&id=36922-5440681-yT2lVHx&t=12
Thank you for speaking out to make sure that all students can afford a higher education — including those from working class families.
Murshed Zaheed, Deputy Political Director CREDO Action from Working Assets
PS: This issue is deeply personal for me. Coming from a working class family, I have been able to pursue my own aspirations by working hard and getting a great education from amazing academic institutions. This opportunity would not have been possible for someone like me if I hadn’t had access to affordable federal student loans with low interest rates. I hope you willjoin this cause on behalf of the students andconsider inviting any students you know in your personal network to join this fight by forwarding them this link:
http://act.credoaction.com/r/?r=5541974&id=36922-5440681-yT2lVHx&t=15
1. Sarah Jaffe, “Is Congress Going to Double the Interest on Your Student Loan?,” AlterNet.org February 22, 2012. 2. Ann Carrns, “Rising Concerns Over Student Loans, Public and Private,” the New York Times Blog, March 14, 2012. 3. Sarah Jaffe, “Is Congress Going to Double the Interest on Your Student Loan?,” AlterNet.org February 22, 2012. 4. Moe Bedard, “Vermont Senators Leahy And Sanders Join Bill To Prevent July Interest Rate Increase On Stafford Student Loans,” LoanSafe.org, February 2, 2012. 5. Sarah Jaffe, “Is Congress Going to Double the Interest on Your Student Loan?,” AlterNet.org February 22, 2012.
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His 21st Birthday, in Prison
What’s the Word? 
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For most people, prison is punishment. For a few, it becomes a badge of honor.
One Member of Congress told me that every few years, he gets arrested. So that people can see whose side he’s on.
Eugene Debs was sentenced to ten years in prison for protesting against United States involvement in World War I. Debs ran for President from prison, and he received almost a million votes (3.4% of the total).
And on March 11, 1986, on his 21st birthday, you would have found Jesse Jackson, Jr. in jail, for protesting at the South African Embassy in Washington, D.C., against apartheid in South Africa.
Both before and after that, if you wanted to find Jesse Jackson, Jr. at lunchtime on Thursdays, you wouldn’t go looking for him in a diner or a fast-food joint. You’d find him at 444 N. Michigan Avenue, in Chicago, in front of the South African Consulate, protesting against apartheid. Week after week after week. The protests at the Consulate started in 1977, and they went on for more than a decade.
The protests ended only after Nelson Mandela was released from his 27 years of incarceration – another badge of honor. On the day of his release, Mandela made a speech that was broadcast around the world. Mandela called for peace and reconciliation. On the stage with Mandela that day was Jesse Jackson, Jr.
For the past quarter-century, in one way or another, Jesse Jackson, Jr. has devoted himself to the causes of justice, equality and peace. He is the kind of Democrat that Democrats always ask for: tough, fearless, compassionate and unstoppable.
He faces a serious challenge in his primary on Tuesday, from a former Democratic Member of Congress.
He needs our help. He deserves our help. Let’s help him.
Remember, we don’t just need more Democrats. We need more Democrats, and better ones. We can’t let one who is this good slip away.
Courage,
Paid for and Authorized by the Committee to Elect Alan Grayson
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Is your state treasurer a socialist? … Michael Langenmayr, Democracy for America
You’ve seen what Citizens United has done to federal politics. Now, imagine if we let the same thing happen at the state and local level.
Imagine unrelenting attack ads accusing your state treasurer of being a socialist — or accusing your state legislator of being a secret Muslim — or of your city councilor waging a war against religious freedom.
Right-wing groups are dismantling campaign finance laws across the country to allow unlimited corporate spending up and down the ballot in all 50 states.
We’ve got to fight back. Last week, we launched our campaign to get attorneys general across the country to stand up for common sense campaign finance laws.
The response has been amazing. So far, over 75,000 DFA members have joined our campaign.
All you need to do is look at Montana to see how far right-wing groups are willing to go to undo common sense campaign finance laws — and exactly how your Attorney General can stop them.
Montana’s ban on corporate spending in political campaigns was challenged in court — and Montana Attorney General Steve Bullock stood up to defend it. He fought hard to keep it on the books and took his case all the way to the Montana Supreme Court.
He won.
That is the sort of leadership we need from AGs today. Please contribute now to fuel the campaign.
Thank you for everything you do.
– Michael
Michael Langenmayr, Political Director
Democracy for America
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Thank them for their service … Ron Pierce, Democrats.org
“Welcome home.”
That was President Obama’s message to troops at Fort Bragg in December, marking the end of the war in Iraq.
Today is the nine-year anniversary of the start of that war.
More than 1.5 million men and women served there over the past nine years. Some troops are still stationed overseas, in Afghanistan and elsewhere.
I’d like to ask you to take a moment today to reflect on the sacrifices our troops and their families have made — and the sacrifices some are still making — and invite you to leave a message to thank them for their service:
http://my.democrats.org/Thank-our-Veterans
President Obama recently announced one of the largest increases in funding for veterans‘ health care in decades, so they can return to the care they need.
He’s also working to make sure veterans get the jobs they deserve, taking executive actions and signing legislation that provides help for them to re-enter the workforce.
It’s an important part of his promise — not just to bring the war in Iraq to a responsible end, but to honor our commitment to our service members.
And it all comes down to one simple principle: Because they got our backs, we’ll get theirs.
Please take a moment to honor our troops’ service on this anniversary, and if you’d like, send a message to thank them:
http://my.democrats.org/Thank-our-Veterans
Thanks,
Ron
Major Ron Pierce (Ret.)
Director of Outreach for Veterans and Military Families
Democratic National Committee
Be a Seed for Change 
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