The Banks Need Another $87 Billion to Buy Private Jets

This is what student loan company lobbyists say that students want when they talk to members of Congress. Of course, back in the real world we all know that the average student has $20,000 of student loan debt, and they are in no mood to continue government hand-outs to lenders while their student aid packages fail to cover college costs. That is why students across the country are joining together to tell Congress to put students over banks by passing a bill that would cut wasteful subsidies to student loan companies and use the $87 billion in savings to make college more affordable.

President Obama has a plan to strengthen America by making college more affordable for millions of Americans.

The President proposes to save almost ten billion dollars a year by shutting down a program that gives banks wasteful subsidies on student loans. He wants to devote the savings – as much as $87 billion over 10 years -- to Pell Grants to help students pay for college.

Unfortunately, loan company lobbyists are pressuring Congress to save their wasteful subsidies at the expense of students and their families.

Join Campus Progress: Tell Congress to choose students over banks, because we need a better future, and because we are fed up with banks taking billions from taxpayers for no good reason.

President Obama is ready to stand up against the loan companies to make college affordable, are you?

Click here to take action.

Source: Students Over Banks, a project of Campus Progress