Reduce the high 8% interest rate on all Parent-Plus college loans to a more reasonable interest level rate.

Middle income families use the Parent-Plus loans to cover and supplement the high cost of tuition. The Obama administration took this program over from private banks like Wells Fargo, Bank of America, and others. When banks compete, they lower rates so you'll use them. The Dept of Ed now runs this program and it is fraught with heavy bureaucracy which leads to delays, misinformation and redundancy. Formerly, when banks competed for these loans the rates were much more competitive (lower). Middle income families do not receive the little or no tuition entitlements bestowed of lower income families. We want to pay our tuition, but at a 3% interest rate which is reasonable. The NOW 8.5% rate will continue to increase in the near future. Sign this petition because it's right and fair.