MEETING START TIME: 05:08 pm
ATTENDANCE: Thomas, Dobryznski, Connolly, Hutchins, Lanoie
Excused: Stang
Unexcused: Pickard, Brieho
COMMITTEE DISCUSSION:
Stafford Loans:
- Petition online- senators please post to facebook! Petition to stop student loan increase.
o 2007 law to reduce loans is expiring.
- Cutting funding to keep rate low will need require cuts from other programs, such as Pel grant.
- However, we believe more people will benefit from the loans.
Letters to Senators:
- Letters for all senators.
- Can’t do House of Reps- too many.
- 200 for Senate
- Gear towards Republicans because they are the ones blocking bill, however the Senate is all democrats, so perhaps we do need to do contact house of reps.
- Perhaps we will Email all of the House of Reps instead of sending physical letters.
- Writing generic letter to all.
- Debt for student loans is higher than debt for credit cards.
Drafted Letter:
Dear Senator,
We, the Students of the University of Rhode Island Student senate are very distraught by the growing cost of a college education. As students who have suffered over 10 consecutive years of tuition hikes, we have found ourselves looking for other means of paying for higher education; meaning more loans, longer hours spent working and distracted from our studies and high levels of debt upon graduation.
According to The Student Debt Project, in 2010 two-thirds of college seniors graduated with loans, carrying an average of $25,250 in debt. They also faced the highest unemployment rate for young college graduates in recent history at 9.1%. Many worry that as student debt climbs above $1 trillion dollars, this is the next financial crisis our nation will have to weather. Debt will continue to rise with the cost of higher education, while the necessity of a college degree is unflaggingly vital.
As the burden of debt grows, recent graduates are forced to take the first jobs that come along in order to continue paying off their loans. This financial burden is restricting economic growth and crippling the next generation of taxpayers. This issue will be a hot topic when college-aged voters are deciding who to vote for in the upcoming elections.
With the College Cost Reduction Act of 2007 soon to expire, interest rates on federally subsidized loans will only further the debt crisis placed upon college graduates. This will affect more than 10 million students who rely on Stafford loans to aid in paying for college. Keeping in mind that these loans are solely reserved for those students demonstrating a financial need, by failing to pass the Student Affordability Act you are setting us up for failure before we have even gained the tools necessary to succeed.
Rhode Island District 2 Senator Jack Reid said, “Keeping student loan interest rates low is an investment in both individuals and America’s global competitiveness…As college costs continue to rise and more students take on loans to earn a degree, the Student Loan Affordability Act will
provide relief for middle-class families saddled with student loans.” Think of this Act as a necessary investment for future, productive, taxpaying citizens of your country.
As the voice of 13,000 undergraduate students enrolled at the University of Rhode Island we urge you to pass the Student Affordability Act. Keep in mind, President Obama noted “…a college degree has never been more important. But it’s also never been more expensive”. Passing this bill will bring debt relief to current and future generations of students.
Sincerely, University of Rhode Island Student Senate External Affairs Committee
Senator Assignments-
- During office hours, external committee members will start to address envelopes so letter can be mailed.
- Last meeting of year Woo external!
MEETING ADJOURNMENT TIME: 06:05 pm