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Petitioning Citibank

Private Banks: Lower the interest rate of student loans!

The interest rate of student loans of undergraduate and graduate degrees are higher than what it should be. The private banks are setting the interest rate of student loans at around 6.8% but the government subsidized the interest rate of undergraduate to around 3.4%. In the next few years, the government is planning to decrease the subsides on the private bank which will result in a high interest rate. It takes about 11 years for an average American men to pay their student loans back, and 16 years for an average American women to pay theirs. Do you want our children, the future of our nation, to spend almost 20% of their lives paying back the student loans with a sky rocketed interest rate? It is time for a change. I believe that our children deserve to go to the best colleges for them without the worry of the interest rate of the student loans. The banks shouldn't charge high interest rate on student loans because these money are being use on education. I believe that we can change this if we do it together!

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