The interest rate on Parent Loan for Undergraduate Student (PLUS) is 6.41% for 2013 and set to rise to more than 7%. Millions of families are struggling to make their ends meet and barely able to pay for fastest rise in education cost. When big banks can borrow at less than 1%, mortgage rates are at 3-4% why should law abiding, hard working American families pay more than 6-7 times than the law breaking banks?
Please reduce the PLUS loan interest rate.