NAN Asks You To Support Democratic Bill “S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012”—
As college costs have increased over the years, over 1.5 million African Americans have accepted Stafford loans as part of their financial aid packages. On Tuesday, May 8, 2012, the United States Senate will prepare to vote on Democratic bill S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012, which will keep Stafford student loan interest rates for over 7.4 million borrowers from doubling. Currently, the interest rate on a subsidized Stafford loan is 3.4%. On July 1, 2012, the interest rate will double to 6.8%, unless congress passes new legislation that will stop the increase. National Action Network asks everyone to call your Senators letting them know the importance of maintaining the current student loan interest rate and asking them to support S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012. Please click here to find the contact information for your U.S. Senators.