Dear Daniel,
| $80B For Big Banks? Or College Education?
After the President and the House backed legislation ending the $80 billion scam of subsidizing big banks so they can gouge students on college loans, big bank lobbyists are out to kill student loan reform in the Senate. We need to make to choice clear: $80 billion for big bank CEOs, or for the middle-class to make college affordable. Tell the Senate. Pass Student Loan Reform. GO» | | |
The bankster lobby is at it again. This time, they're out to screw America's students.
After the President and the House backed legislation ending the $80 billion scam of subsidizing big banks so they can gouge students on college loans that the government guarantees anyway, the lobbyists are hell-bent on killing student loan reform in the Senate.
End the $80 billion handout to the big banks. Click here to demand your Senators pass student loan reform.
Under the reform, $80 billion in excess subsidies would be saved from the big banks. That money would be used to provide college Pell grants for poor students, and tax credits to help working families pay for tuition.
Help make college affordable or subsidize banks? As President Obama said, this is a "no brainer." But the banks - led by Sallie Mae - have spent over $8 million on lobbying and $2 million on political donations to stop reform.
Help make college affordable or subsidize banks? Click here to demand your Senators choose right and pass student loan reform.
The New York Times reports that an "aggressive lobbying campaign" has put President Obama's plan to pull the plug on subsidizing the private lenders is "in peril," with the biggest lender spending "more than double the year before" on lobbying.
Fight for students, not bank lobbyists. Click here to demand your Senators pass student loan reform.
The current system is a straight-up scam.
Taxpayers are now subsidizing big banks to make loans to college students that our government guarantees anyway. Then the banks gouge the students with hidden fees and excessive penalties, fleecing students who have lost their jobs.
Direct lending - which the government had to do when the banks abandoned the program in the financial collapse - would save $80 billion over 10 years. That will help make college affordable for millions of kids.
Stop the big banks' student loan scam. Click here to demand your Senators pass student loan reform.
America is fed up with Wall Street writing the rules and Main Street left holding the bag.
Is your Senator in the pocket of the banks or standing up for kids? Let's make it clear. It is time to act.
Thank you for taking this on. We simply can't let the banks continue to take money that can help kids pay for the college education they have earned.
Sincerely,
 |
| Robert L. Borosage, Co-director
Campaign for America's Future |
No comments:
Post a Comment