AAUP unanimously supports the “Bank on Students Loan Fairness Act”

by Danielle Dirocco

Greetings from the 99th Annual AAUP National Conference in Washington, DC!

We are pleased to report that the National AAUP unanimously passed a resolution to support Senator Elizabeth Warren (D-MA) and Congressman John Tierney’s (D-MA) bill, known as the “Bank on Students Loan Fairness Act” (S897). This bill proposes the reduction of the student loan interest rate to .75%, reflecting that students should not have to pay a higher interest rate than banks.

Furthermore, it is worth sharing that there were comments made urging the organization to assign staff to this issue to ensure that student loan fairness remains a priority for the AAUP over the long term. The GAU publicly expressed its gratitude to the AAUP for its recognition regarding the importance of addressing the student loan crisis. The full text of the resolution can be found here: http://www.aaup.org/resolution-supporting-bank-students-loan-fairness-act.

For further information on Warren’s bill, see the fact sheet and full text of the bill below.

“Bank on Students Loan Fairness Act” Fact Sheet: http://www.warren.senate.gov/documents/BankonStudentsFactSheet.pdf

Full text of Bill S897 (“Bank on Students Loan Fairness Act”): http://www.warren.senate.gov/documents/BankonStudentsBillText.pdf