Heidi Alexander: “19 million American families will be interested in this motion because it will reduce the cost of student loans which 19…”

“19 million American families will be interested in this motion because it will reduce the cost of student loans which 19 million Americans have. This is the season of the year when a great many students have been admitted to a college or a community college and are making plans and looking for where they are going to get their money. This motion is aimed at reducing the interest rate on 19 million student loans from 6.8 percent to 5.3 percent. For the average student loan debt of about $25,000, it would save that student $1,700 or $1,800 over their ten-year loan. More specifically, it would not only help the student, but it would prevent the Federal Government from overcharging 19 million American college students on their student loans to help pay for the health care bill and other government programs. One may say: Wait a minute, I thought we were debating the health care bill. How did we get to student loans? That is a very good question because it just came up over the weekend.”