GUSA campaign to halt doubling of student loans continues

nate tisa and cosignersYesterday, the GUSA executives, Nate Tisa (SFS ’14) and Adam Ramadan (SFS ’14),  delivered a petition to the Capitol, asking members of Congress to act in order to halt the doubling of Stafford student loan rates on July 1.

The petition, according to to a GUSA press release on June 19, was “born out of an effort of the [National Campus Leadership Council] in partnership with the Georgetown University Student Association.” The goals of the petition, according to the same press release, are “[to urge] Congress to keep several key principles in mind: keeping rates low, ensuring that repayment options are simple and predictable, and reinvesting cost savings back into financial aid. The letter also emphasizes that any market-based proposal should include meaningful protections against unpredictable, high interest rate environments, such as a cap on how high student loan interest rates can go.”

The campaign has been publicized through interviews with Fox News and ABC earlier this week in order to push the initiative further. It was also featured on the Huffington Post and  POLITICO Huddle, where Tisa emphasized the wide scope of the bipartisan student effort. “If loan rates double … it makes it that much harder for millions of students already in college to scrape together enough money to stay in school,” he said in an email to POLITICO. “It puts higher education out of reach for kids in high school now. We understand the deficit implications of spending on student loans but it’s time to view them as an investment in the future.”

Tisa, pictured above with Georgetown College Dems president Trevor Tezel (SFS ’14) and student veteran Brandon Anderson (COL ’14), gathered  for a press conference where Rep. Nancy Pelosi (D-CA) joined Rep. George Miller (D-CA) among others, spoke on the issue of student loans.

Anderson delivered remarks on the subject, as did Pelosi. “But I just want to say, we come together to join the students, our leaders, who are delivering a message to Washington,” she said.  “It is the same message that John F. Kennedy sent in a letter to Congress over 50 years ago.  He said: ‘Our progress as a nation can be no swifter than our progress in education.  Our requirements for world leadership, our hopes for economic growth, and the demands of citizenship itself require the maximum development of every young American’s capacity.'”

The text of the petition below. So far it has garnered the signatures of 108 student government presidents, representing the interests of over 1 million students in 38 states. There is also an online version at, that bears 211 signatures at the time of posting.

Photo: Erin Armstrong

#DontDoubleMyRate by GUSAexecutive

3 Comments on “GUSA campaign to halt doubling of student loans continues

  1. Pingback: Missouri student presidents join effort against student loan rate hike | Finance is easy

  2. This petition will help current students and very recent graduates. More power to it. However, those of us with older loans have been stuck with more than double these rates (8.5%) for years, and no one in Congress has lifted a finger to help us. They do lift a finger to give us the finger, but that’s it. Refinancing is not an option open to us, nor is negotiating for an affordable payment. Even if we’ve been lucky enough to have steady employment and good health, making regular payments doesn’t bring the balance down. Instead, we just end up owing more and more.

    What we really need is the standard consumer protections that are available to all other types of loans and credit products. Student lenders are exempt from the Fair Debt Collection Practices Act and are not accountable to anyone. Basically, the entire student loan industry is nothing but legalized predatory lending.

    I hope you will join the effort to allow those of us with no options to discharge student loans in Chapter 7 bankruptcy – no fine print, no exceptions, no ifs, ands, or buts.

    Imagine paying on your student loan for 11 years straight … never late, never missing a single month. Then notice that not only are you making zero progress, but your balance has doubled because the interest just piles on and on and on! It’s time to stop these government-sanctioned loan sharks in their tracks! Sign the petitions!

    Some of us really need this, and the above article is just another case in point. I hope you’ll sign and spread the word. Thanks.

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