On eve of Student loan increase, Spivack asks Castle: Why cut student aid?
Castle, Congressional Republicans voted to cut $12 billion in student aid
NEWARK, Del. – Today is the deadline for students to consolidate their loans and avoid a potentially crushing interest rate hike, which could top out at as much as 7 percent. By consolidating today, someone with $20,000 in loans could save up to $5,000.
With tuition at Delaware public institutions increasing 30 percent (over $3,000) in the past four years, the Republicans in Congress last year passed a law that cut $12 billion dollars from student aid. Democratic congressional candidate Dennis Spivack wondered why Rep. Mike Castle (R-DE) would be the deciding vote (it was 217-215) with students already dealing with skyrocketing tuition costs.
“Amidst all the other financial constraints American families are confronting today – such as increased health care costs and mercurial gas prices – it is a scary prospect that a good student just cannot afford a college education,” said Spivack. “That is an absolute crime. Mike Castle and Congress should be making a college education more attainable for our children, not a faraway dream.”
Spivack also highlighted the Democratic plan to cut student loan costs while restoring full funds to aid programs such as Pell Grants.
“Congressional Republicans – and Mike Castle – have no problem passing tax cut after tax cut,” Spivack noted. “But when it comes to helping those who truly need the help, like students facing mountains of loans, they prove to be out of touch. The Democratic plan will cut up to $5,600 in interest costs on loans and restore Pell Grants and Perkins Loans. We need to open doors to our future’s leaders, not shut them.”
The Democratic plan to restore student loans is available on www.democrats.org.
