Elizabeth Warren slams Republicans for failing to act on student loans
With federal subsidized student loan interest rates set to double from 3.4 percent to 6.8 percent on July 1 unless Congress acts, it’s crunch time for government officials to come to an agreement to prevent rates from rising.
Sens. Jack Reed (D-RI), and Tom Harkin (D-Iowa) have co-sponsored a bill that would freeze interest rates at 3.4 percent for two years, but Senate Republicans blocked the bill last week, instead favoring a plan that would actually increase interest rates on student loans. Sen. Elizabeth Warren (D-MA) has also introduced a bill of her own that would temporarily lower student loan interest rates to 0.75%, the same rate the federal government offers to big banks.
In response to this gridlock in the Senate, Sen. Warren called out Republicans for their “morally wrong” decision to block the bill and allow the government to profit off some of its most vulnerable citizens.
Watch her lay the smackdown on Congress in the video below, and sign her petition to show support for Sen. Warren’s bill.