The federal government makes billions each year by charging above-market interest rates on outstanding student loans. As a result, younger Americans are delaying marriage, home ownership, and having children as they struggle to reduce their overall student loan debt obligations.
Above-market interest rates on student loans are effectively a tax on those Americans who took a chance on education as a path to a brighter future in this economy.
This is not a request for loan forgiveness. This petition asks the White House to allow borrowers in good standing to refinance their loans to lower interest rates. This will free up billions in consumer spending power and allow younger Americans to stop delaying the American dream in order to continue making "education tax" payments.