Lucas,
A college education used to be a launchpad into a lifelong career. Now, it's a debt sentence. Student loan debt has even eclipsed auto loan and credit card debt, positioning itself as the number two driver of consumer debt after mortgages.
This is stifling young peoples' ability to take a chance on an idea for a new business or start a family. Will you join me in campaigning for higher education not higher debt by adding your name to my petition with Working Families now?
Currently, there's $1.2 trillion in student loan debt nationwide – and the average New York graduate owes $27,000.
This forces young people to put their lives on hold while they try to get their debt obligation under control. I have proposed a truly common-sense reform that would allow student borrowers to refinance their student debt at a lower interest rate, just as business-owners and homeowners are able to.
I am partnering with Working Families to get Congress' attention because we should not be profiting off our students.
Click here to join the Higher Ed Not Debt campaign by adding your name now.
Independent estimates have found the legislation I proposed would decrease interest rates for nine out of 10 loan-holders, saving 37 million borrowers billions of dollars in interest payments.
Allowing recent graduates to refinance would allow students to invest in businesses, start a family and buy homes. We have a chance to jumpstart our economy while changing lives – we just need Congress to act.
Click here to demand Congress do something to help students now.
Thank you for speaking out for our young people,
Kirsten [Gillibrand]