Representative George Miller ( D-Calif), the ranking member of the Houser Education and Workforce Committee announced that they are having to introduce the “Stop the Student LoanInterest Rate Hike of 2012” which he shared that the bill will avoid the interest rate for the federally subsidized Stafford loans from doubling from 3.4b% fo 6.8% for the one year. The bill will be able to pay for the extension of the interest rate cut—an estimated $6 billion—by ending the loophole permitting the Americans making more than $250,000 from certain corporations to avoid paying Medicare payroll taxes.
The Savior Bill for more than 7 Million Borrowers
What Miller is proposing will be a big helps on the 7 million borrowers the average of $1000 stating: “Last month, House Republicans voted for a budget that relies on hiking student loaninterest rates, while this month they voted to cut taxes again for millionaires and billionaires. I urge them instead to join me and my Democratic colleagues in standing up for students by stopping the hike. The clock is ticking. The time to act is now.”
Presidents Raise the Topic in His 2012 State of the Union Address
Regarding the student loan, the president Barack Obama first raised the topic on his 2012 State of the Union Address, where the Republicans rate down the three-swing-state trip as he tried to appeal to the young voters. President Obama expressed to college reporters:” For sometimes now, I’ve been calling on Congress to take the steps to make higher education more affordable, to prevent these interest rates from doubling, and to extend the tuition tax credit that has saved middle-class families millions of dollars, but also, to double the number of work/study jobs over the next five years.”
The Savior Bill for more than 7 Million Borrowers
What Miller is proposing will be a big helps on the 7 million borrowers the average of $1000 stating: “Last month, House Republicans voted for a budget that relies on hiking student loaninterest rates, while this month they voted to cut taxes again for millionaires and billionaires. I urge them instead to join me and my Democratic colleagues in standing up for students by stopping the hike. The clock is ticking. The time to act is now.”
Presidents Raise the Topic in His 2012 State of the Union Address
Regarding the student loan, the president Barack Obama first raised the topic on his 2012 State of the Union Address, where the Republicans rate down the three-swing-state trip as he tried to appeal to the young voters. President Obama expressed to college reporters:” For sometimes now, I’ve been calling on Congress to take the steps to make higher education more affordable, to prevent these interest rates from doubling, and to extend the tuition tax credit that has saved middle-class families millions of dollars, but also, to double the number of work/study jobs over the next five years.”
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