Student Loan Disaster Warning

Student loan interest rates are set to double next week. “That would be a disaster for millions of students and their families,” Bernie said in a Senate floor speech on Wednesday. Already the average debt for a college grad is $27,200. And here’s another astounding fact. The staggering $1.1 trillion in education loans outstanding is greater than Americans’ total credit card debt. This affects people’s careers and hurts our economy. In the long term, we must make college more affordable and accessible. In the short term. Congress must act immediately upon its return from a July 4 break to continue the 3.4 percent loan rate for at least another year. Students like 19-year-old Jared Mummert of Haggerstown, Md., have been telling Bernie about their experiences. “I am filled with ideas and dreams of what I would like to do with my life. I am trying to go to the university of my dreams, the University of Vermont, but with the high cost of tuition, minuscule financial aid, and an ridiculous amount of debt, I am looking at a future that I am not in control of my life.”