The government is going to lower student loan interest? What a hoax. Case in point: Massachusetts Sen. Elizabeth Warren's bill attempting to lower the student loan rate.
If Congress does not act by July, student loan interest rates will double from 3.4 percent to 6.8 percent on the Stafford loans, the need-based funds for undergraduates.
Sen. Warren wants to lower that rate to 0.75 percent, the rate the Federal Reserve gives to the banks for short-term loans.
Congress, the banks, Wall Street, the Federal Reserve they're all the same. This is the same group that has destroyed millions of jobs and has broken the American economy.
Is not the government the same as the banks?
Is not the Federal Reserve a private bank/Wall Street-run corporation?
Is not the plight of the students drowning in debt a drag on the economy? Student debt is now larger than credit card debt in America. It is clear that this problem is a planned coordinated effort by the banks and Wall Street and government to control the common middle-class American people.
The rich elites do not suffer this problem.
Is your elected representative for or against lowering these student loan rates? Press for an answer.
Wake up, voters, and notify your elected officials to do the right thing, or their gravy train seat will be taken from them at the polls.