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Professors Seek Low Interest Rates For Students

Posted by tbaker |

Student LoansNationally, over 1,000 professors signed the letter which was be featured in the Chronicle of Higher Education

In the wake of the Senate’s vote on student loans, the Progressive Change Campaign Committee (PCCC) is releasing a letter signed by over 1,000 professors from universities around the country telling Congress and Senator Boozman: pass Senator Warren’s bill to let students borrow at the same low interest rates as the banks. The letter will run as an ad in the Chronicle of Higher Education, a leading publication covering American higher education policies.

In an email announcing the letter, the PCCC said, “The proposal in Congress to extend current rates does not do enough to help students with mounting debt.” You can see the full letter at ProfessorsForReform.com.

Key excerpt

“The long-term rising cost of college demands a bold solution.

Some of us have seen smart students with a bright future forced to drop out due to the high cost of higher education. This hurts them and America’s economic future. We’re calling on Congress to make college accessible to all Americans by passing bold education policies — beginning with Sen. Warren’s bill.”

The letter was signed by 4 Arkansas professors including Instructor James Wilson of University of Arkansas, Little Rock, who added:

“Students shouldn’t look at college as a mountain of debt that they’re going to have to work for years to pay off. They shouldn’t have to make a choice between an education and being debt free.”

Senator Elizabeth Warren’s bill will reduce student loan interest rates to the same low rate the government charges Wall Street banks. A coalition of national progressive groups, including the Progressive Change Campaign Committee, MoveOn.Org, Democracy For America and Credo Action, have collected more than 615,000 petition signatures supporting Elizabeth Warren’s bill.

The Progressive Change Campaign Committee has over 4,700 members in Arkansas and nearly 1 million members nationwide.

Join the Movement

Visit professorsforreform.com to find out what you can do to help. Or contact Matt Wall at mwall@BoldProgressives.org or 978.204.4156

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