🚀 go-pugleaf

     Here is some more information from NAGPS regarding student loan
interest rates.  The House committee will be meeting soon, so please take
a moment to contact Congress.  You can do it for free via the NAGPS Web
site.  Read below for details.  It's your money.

Tim Benner, President
United Government of Graduate Students
University of Colorado at Boulder

UMC Room 327       Campus Box 207
(303) 492-5068     http://uggs.colorado.edu

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NAGPS' Top 10 "Interest"ing Reasons to Call Congress

3/11/98

Dear NAGPS Members and Colleagues;

Why should you contact Congress TODAY to express your support for 
maintaining the Student Loan Interest Rate Reduction scheduled to take 
effect July 1, 1998?

1.	IT IS YOUR MONEY - PART 1!  This isn't taxpayer money, it's your 
money.  Do you really want to give more of it to the company loaning you 
money?  Below we explain how you could save $4,000 - $5,000 or more if 
the interest rate reduction goes into effect.  Why give it to banks?

2.	IT IS YOUR MONEY - PART 2!  Special for those 30% at direct lending 
schools - the government has said that it does NOT need the additional 
interest, but if the lending institutions keep the rate reduction from 
going into effect, YOU WILL HAVE TO PAY MORE!  For no reason!  The two 
loan programs will probably have the same interest rate - meaning even on 
campuses where the government makes the loans, you'll pay the higher 
interest rate.  We can assure you that the government will NOT create a 
memorial in your honor with your extra money.

3.	CONGRESS WANTS TO HEAR FROM YOU!  Members of Congress have said 
to NAGPS representatives..."Why haven't we heard from students on this?  
We hear every week from lobbyists for lending institutions...don't the 
students care about paying more?"

4.	CONTACT CONGRESS FOR FREE!  NAGPS has made it so easy to communicate 
with Congress.  We've given you the names and numbers of the Education & 
Workforce Committee (http://www.nagps.org/NAGPS/).  We've also provided a 
way for you to FAX CONGRESS FOR FREE via our Email to Fax gateway.  This 
gateway is so easy to us - you just pick the person you want to fax, 
enter your message, put your name and address on it and VOILA...they get 
a fax.  FREE to you!

5.	THE MESSAGE IS SIMPLE!  You can spend the time trying to 
understand the various details of the 1993 Student Loan Reform Act and 
the scheduled interest rate reduction, but the message to Congress is a 
very simple one - "Keep my Interest Rate Reduction.  Don't make me give 
more money to these banks than I have to.  Listen to students who really 
need a break on student debt."  Don't worry about having lengthy, 
technical conversations with staffers - the person taking your call will 
simply register your opinion and then hang up.

6.	NUMBERS COUNT BIG TIME!  We need everyone to make a call or a fax 
- quantity of calls on this issue makes a big difference.

7.	IT IS YOUR MONEY!  Did we mention this?  You, personally, will 
save $100 PER YEAR in repayment for every $10,000 in student loans that 
you take out that are affected by the interest rate reduction (loans 
made after 7/1/98).  If you borrow the maximum Stafford Loan of $8500 each 
year for 5 more years, your savings during your repayment could be as 
much as $4,250!!!!!  Isn't that worth a fax today!

8.	NOW IS THE CRUCIAL TIME!  The Postsecondary Subcommittee really 
wants to figure out the answer to this issue THIS WEEK.  While they may 
postpone the decision, they are more likely to decide in favor of lending 
institutions if you, personally, do not make a call or send a fax.  TODAY 
is the best day to contact Congress - while you're on email and can send 
your fax via our web site (http://www.nagps.org/NAGPS/)

9.	THIS IS AN EDUCATION FRIENDLY CONGRESS!  Unlike 3 years ago when 
interest subsidy issues were being examined to see if students should pay 
more to help balance the budget, this year members of Congress on both 
sides of the aisle want to do the right thing FOR STUDENTS!  But Chicken 
Littles are convincing many that the sky will fall on the student loan 
program if this 1% interest rate reduction doesn't go back to the pockets 
of the banks instead of the students.  Some in Congress genuinely believe 
this will happen.  But they haven't heard from students (and many haven't 
even read the Treasury Report that documents how lenders can afford to 
give a large interest rate reduction without significant problems).

10.	IT IS YOUR MONEY!  $11 billion is at stake in this battle.  Not 
$11 billion in taxpayer money, but $11 billion in student loan payments 
over the next 10 years to institutions who, frankly, don't need the money 
as bad as you will.  Take it from someone making payments on just $15,000 
in student loans.  You will appreciate more your foresight in helping 
ensure this rate reduction happens when you are paying $200, $500, $1,000 
each month in student loan payments.  Isn't a reduction in those payments 
worth it?

Please make your calls and faxes today.  Your own future pocketbook 
depends upon it.

Kevin Boyer
NAGPS Executive Director

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