Andre PB 0

Lower the interest rate on student loans

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I created this online petition to present to the Secretary of Education (Chicago's own Arne Duncan) and The House Banking Committee to lower the current interest rate for student loans. The banks get the loans money at 3%current students pay minimumum of 6.5% and as high as 9% interest rate on student loans (Source Bankrate). Due to these rates students find themselves not able to get out of education debt. We can mobilize enough people to support lowering those interest rates down to 4.5% maybe an executive order can be penned and signed into law before next years freshman class enters for the 2009/2010 semester. Along with this proposal I'd like the administration to establish this for all that owe student loans from the last 25 years. I will present this petition to The Department of Education and Congress Banking committee aka The House Financial Services Committee at the end of May 2009. Please get involved and let's create our own bail out by helping ourselves get out of debt. Andre

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