reduce interest rates on graduate students' Stafford loan debt.

At 6.8%, the rate on Stafford loan debt for graduate students is crippling. Given the high costs of tuition for graduate school, many students in two-year programs have taken out the full amount of Stafford debt of $41,000. Monthly payments at 6.8% are over $500. Given how many graduate students have been either unable to find jobs or have low-paying jobs, this is a crippling burden. Reducing the interest rate on this debt not only makes the debt more sustainable but also makes it more likely that this debt is paid off. On top of this, students with more money in their pockets can spend more, stimulating the economy. All of these reasons point to the huge need to take action on the interest rate on graduate loan debt.