Congress wants you to think that student loan forgiveness is the best option for most people out there, and yes it would help a great deal of people. However, the REAL problems are the astronomically high interest rates, interest capitalization and in school accrual of interest attached. The high interest rates are more so a problem of those getting graduate degrees and yes, rising tuition costs are also part of the real problem here but let’s try and tackle one problem at a time. So many people out there struggling to get by on IBR loan repayments aren’t even paying down any of their principal because their interest is accruing more money on top of their loans than they are paying down every month. 

Education should be affordable and congress shouldn’t be trying to make money on our desire to be educated and better ourselves. And the idea that higher interest rates are ok for graduate degrees because those people will make more money is ridiculous. It shouldn’t cost you more if you want to become a doctor or a lawyer just because you are going to make money, it’s still very large sums of loans for most of those people in the 6 figures worth that they will have to pay back and we shouldn’t be making that more difficult. 

Congress can and should cap the interest rates on student loans so they are making just enough money to distribute and manage them and not a penny more. Congress has been taking advantage of us for too long and they are hiding behind loan forgiveness instead of trying to tackle the real issues. 

Please sign and share this petition so congress can make a real positive change for everyone that strives for an education but doesn’t have the funds to get there without loans. The system is broken and needs to be fixed for the long term, not just a bandaid to make people happy in the short term. 

So what do we want? 

1. Lower (or no) interest rates

2. No interest capitalization

3. No in school interest accrual