Last Spring the U.S. Senate defeated The Bank on Students Emergency Loan Refinancing Act by a vote of 58-38. The act, proposed by Senator Elizabeth Warren (D-MA) would lower the interest rate on existing student loans from 7% to 3.86%. The act would be financed by levying a mandatory income tax of 30% on everyone who earns between $1 Million and $2 Million dollars per year. Proponents argue that current student loan interest rates are nearly double normal interest rates and should be lowered to provide relief for millions of low-income borrowers. Opponents argue that the borrowers agreed to pay the interest rates when they took out the loans and taxing the rich would hurt the economy.
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@8DK67NK5yrs5Y
No, by subsidizing post secondary institutions, students won't be paying too much for tuition; in the meantime, reduce student debt by decreasing money to the military.
@2D5KCHQ5yrs5Y
Yes, and forgive all existing student loan debt.
@8DLTKCZ5yrs5Y
Yes, and all federal student loan debt should be forgiven
@7G3G2W33yrs3Y
Yes, but I prefer making college free
@8TXV5564yrs4Y
I think they should raise the Capital Gains Tax given the richest individuals have their money in stock.
@8BXNXCH5yrs5Y
Yes but I think the colleges should be more affordable for students.
@7PTCG383yrs3Y
Yes, cut the current student loan interest rate in half to provide relief for low-income and middle-income borrowers
@7PTCG385yrs5Y
No, offer individual states matching dollar-for-dollar federal grants as an incentive to increase investment into higher education. The net result will be a reduction in the interest rates for student loans.
@7PTCG383yrs3Y
Yes, and reduce the current student loan interest rate by half to provide relief for low-income and middle-income borrowers
@8JZHKVX4yrs4Y
I believe the rich should pay their fair share in taxes, which would allow for the government to provide free public education options to the lower classes of citizens.
@8PDNMG34yrs4Y
Either raise the taxes for everyone who wants to go to college and lower the cost of tuition, or lower to costs of college tuition.
@558YLXV4yrs4Y
No, but end the federal student loan program.
@Tjolly993yrs3Y
Free college for all citizens
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