To the Editor:
I’m a senior in college, and I worry about what my life will be like after I graduate. Whether it is finding a job or a place to live, there are plenty of things to worry about. What worries me the most though? How to pay off my student loans.
I’m not the only one – many of my college friends are also scared and overwhelmed by the debt that they accumulate during their time in college. That is why I support representatives like Congressman Peter Roskam, who supports tying student loans to market-based interest rates. In fact, he voted for HR 1911, the Smarter Solutions for Students Act (also known as the Bipartisan Student Loan Certainty Act ), which was signed into law last month and does just that. This approach could have saved the average student up to $3,400 through college, had there been a market-based interest rate during their time.
Instead of tying student loan interest rates to the whim of Congress, which they then use as a political tool, it is better to switch to an independent market-based approach. Congressman Roskam is helping not only to keep student loan rates down, but he is also trying to actually solve a problem for the long term. What was signed into law is not a radical idea; it has nothing to do with party, but everything to do with the education of this nation’s youth.
Although paying these loans off will never be easy – and it will take me a long time – Congress has done the right thing in making these loans manageable and sensible.