Take Action: American Rights at Work and Jobs with Justice
If you have student debt, take a moment right now to write your concerns to federal regulators before April 8.
If you don’t have student loan debt, can you tell your friends and family with student debt to make their voices heard? Forward this message directly or spread the word on Facebook and Twitter.
Submit your comment to the CFPB by April 8
Student debt has exploded in recent years, quietly surpassing credit card and auto loan debt.[1] Last year, student loan debt surpassed $1 trillion.[2] Many experts have warned that the “student debt bubble” may burst and cause another economic crisis.
We have an opportunity to act before it’s too late. Federal regulators at the Consumer Financial Protection Bureau (CFPB) are accepting public comments on how to create more affordable loan repayment options for private loan borrowers.
Please take a moment to submit your comment now. If you don’t have student debt, spread the word to your friends and family by forwarding this message or sharing it on Facebook and Twitter.
The average college senior graduating with nearly $27,000 in debt.[3] Meanwhile, job opportunities are scarce and wages have not kept up with the rising cost of tuition.
We know student debt affects far more than just students. If college graduates can’t pay off their debt, then they can’t contribute to the economy.
Moreover, parents and grandparents often cosign on student loans. In fact, parents over 60 are the fastest growing debtors on student loans. Many are forced to use their Social Security benefits to pay off the loans.[4]
It’s time for our voices to be heard about the student debt crisis. Submit your comment to the CFPB now, or spread the word to your friends by April 8.
Big banks are already trying to hijack this conversation and flood the CFPB with comments from their employees. They don’t want to solve this crisis because they’re turning major profits.
Make sure your voice is heard and not just the banks profiting from your loans. Submit a comment to the CFPB today and spread the word to as many folks as you can before April 8.
Don’t let the financial industry dominate this conversation. The CFPB needs to hear from the people paying off their student debt, not the ones profiting off it.
Thank you for fighting for an economy that works for all of us,
Jonathan, Liz, Emma, Sarita, Hilary, Ori, and the rest of the Jobs with Justice and American Rights at Work team
Sources:
[2] http://online.wsj.com/article/SB10001424052702303812904577295930047604846.html
[3] http://money.cnn.com/2012/10/18/pf/college/student-loan-debt/index.html
[4] http://www.huffingtonpost.com/2012/11/12/parents-student-loans_n_2116677.html
Blog For Iowa 