URGENT: Make a call in support of Senator Warren's student loan bill

CREDO action
You signed a petition in support of Senator Warren's student loan bill, now make a call.

Call Senators Chuck Grassley and Tom Harkin to to support Senator Elizabeth Warren's bill to stop student loan rates from doubling and set their interest at 0.75% -- the same rate the government gives to Wall Street banks.

Click below for a sample script and the number to call:

Take action now ►

Dear 5849376,

students before banks; click here to take action.

Time is running out. If Congress doesn't take action immediately the interest rate on federal student loans will double on Monday.

We can't wait. That is why we are joining our friends at Democracy For America and other progressive allies today to keep up grassroots momentum for Senator Warren's student loan bill. The Bank on Students Loan Fairness Act would stop the interest rate on federally subsidized student loans from doubling on Monday and set the student loan interest rate at 0.75% - the same low rate the U.S. government gives to Wall Street banks. Join us to turn up pressure on your senators - Sens. Grassley and Harkin - who haven't yet co-sponsored Senator Warren's bill.

Call Sens. Grassley and Harkin: Tell them to cosponsor Senator Warren's Bank on Students Loan Fairness Act. Click here for a sample script and the numbers to call.

We need constituents like you to build support for this common-sense legislation and give much-needed financial relief to college students and recent graduates, who are struggling under the weight of crushing student loans.

The underlying message of Senator Warren's legislation is powerful and to the point. We bailed out the big banks. Why then deny students, who weren't responsible for wrecking our economy, the same deal we give the banks? Students shouldn't be forced to pay interest rates almost nine times higher than the biggest banks get at the discount window at the Federal Reserve.1

Since 1999, the average student loan debt has increased by 511%.2 That's a five-fold increase in just 13 years! Student loans have now become "the 21st century version of indentured servitude."3 With unemployment still unacceptably high and millions of recent college graduates out of work or underemployed, the last thing we should be doing is making matters worse by letting their interest rate double, adding further financial stress on students and their families.

So far over 244,000 activists have signed our petition in support of Senator Warren's bill. While the response to our campaign in support of Senator Warren has been amazing, there is more work to be done.

It is crucial for us to generate as much support as possible for Senator Warren's legislation in the Senate, where the Democratic leadership will need to move first on this issue to force the hand of Congressional Republicans. Speaking out in support of Senator Warren's bill will also provide broader momentum for advancing a long-term and progressive solution to our student loan crisis.

Call Sens. Grassley and Harkin: Tell them to cosponsor Senator Warren's Bank on Students Loan Fairness Act. Click here for a sample script and the numbers to call.

Thank you for taking action to make sure that all students who make it to college can afford higher education.

Murshed Zaheed, Deputy Political Director
CREDO Action from Working Assets

Click below for a sample script and the numbers to call:

Take action now ►

1. Press release from Senator Elizabeth Warren, "Senator Warren Introduces Legislation Extending to Students Same Interest Rates Enjoyed By Big Banks," warren.senate.gov, May 8, 2013.
2. Daniel Indiviglio, "Chart of the Day: Student Loans have grown 511% since 1999," TheAtlantic.com, August 18, 2011.
3. Mike Konczal, "Student Loans are the New Indentured Servitude," The Atlantic.com, October 12, 2009.


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