or Login to see your representatives.

Access Candidates' and Representatives' Biographies, Voting Records, Interest Group Ratings, Issue Positions, Public Statements, and Campaign Finances

Simply enter your zip code above to get to all of your candidates and representatives, or enter a name. Then, just click on the person you are interested in, and you can navigate to the categories of information we track for them.

Public Statements

Student Loans: Read the Fine Print

Statement

By:
Date:
Location: Washington, DC

The administration announced some changes in student loans yesterday with the goal of making them easier to repay. While the attempt is appreciated, those who think this will help them should read the fine print.

The administration says you can cap student loans to pay what you can afford. However, it appears this provision only applies to loans issued in 2012 or later.

The administration also touts the ability to consolidate loans. However, if you've already consolidated your student loans you are not eligible for this provision. Also, there is a short window to take advantage of this provision that lowers your interest rate by up to half a percentage point -- from January 2012 through June 2012. Further, this option is available to you only if you have Federal Family Education Loans and Direct Loans, and consolidate them into a Direct Loan. If you only have one of these types of federally backed student loans, you are not eligible.

Finally, for those who have private student loans rather than types backed by the government, this new initiative will not help you. One publication says these changes might only save $10 a month. As they say, the devil is in the details.


Source:
Back to top