LLPH Urges “NO” Vote on H.R. 1911 (The Smarter Solutions for Students Act). VOTE TOMORROW!

H.R. 1911 (The Smarter Solutions for Students Act) will be voted on tomorrow. This bill is supported by GOP leadership, but it is not fiscally responsible and is unconstitutional. Government should fully get out of the student loan business.

Information on the bill by the GOP Caucus: http://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=333213

Why it should be opposed (read the links below to find out more info):

http://www.cato.org/blog/student-loans-completely-disastrous-just-99-percent

http://heritageaction.com/2013/05/wrong-focus-on-student-loan-program/

http://www.freedomworks.org/blog/jwithrow/capitol-hill-update-20-may-2013

On Thursday, the House will vote on H.R. 1911, the Smarter Solutions for Students Act. Sponsored by Rep. John Kline (R-MN), this bill attempts to address student loan interest rates, which are set to automatically double to their original level after having been artificially depressed for several years by the government. This bill sets Federal Stafford Loan rates to the level of 10-year Treasury bonds, plus 2.5%, and claims this to be putting the free market back in student loans. In reality, Treasury bond interest rates are not a market rate, but are artificially manipulated by the Federal Reserve. This bill is still the federal government manipulating student loan interest rates and contributing to the student debt bubble that threatens a generation of college-educated young adults.

Call, contact, e-mail your members of congress (House) NOW! Urge them to vote NO. The vote is tomorrow!

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