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141 Woburn Students to Be Affected by Failure of Scott Brown and Senate Republicans to Prevent Loan Rates from Doubling
Without action, interest rates on Stafford loans will double, adding an average of $1,000 per year to college cost for 141 residents of Woburn
WOBURN– On July 1st, 141 Woburn students will see their student loan interest rates double if U.S. Senator Scott Brown and his Republican colleagues in the Senate continue blocking plans to extend the current low interest rates. At the end of the month, interest rates on new loans are set to double from 3.4% to 6.8%, adding an average of $1,000 each year to the cost of attending college. Republican U.S. Senator Brown has already joined his GOP colleagues in voting to block legislation that would extend the lower rate. Currently, 195,000 students across the Commonwealth receive Stafford loans.
“Scott Brown should stand with Woburn families, not Washington, DC Republicans, and stop blocking efforts to keep loan interest rates low and college affordable for middle-class families.” said Massachusetts Democratic Party Chair John Walsh. “His political games are going to cost 141 college students in Woburn an average of $1,000 a year."
Republican Senator Scott Brown has already voted to block legislation that would have extended the current 3.4% interest rate and prevented the rate from spiking to 6.8%. Brown’s own proposal to keep the rate at its current level does not provide anywhere near the $6 billion required to pay for the legislation, according to the nonpartisan Congressional Budget Office. Massachusetts college student Brendan Concannon today called on Brown to abandon his phony proposal and stop blocking real efforts to keep rates low.
“My message to Scott Brown is clear – don’t double my rate,” said Concannon, a Bridgewater State University student and South Shore Regional Director of the College Democrats of Massachusetts. “College is expensive enough as it is, I don’t need Washington making it any tougher.”
Earnhardt
7:24 am on Friday, June 22, 2012
I still do not think Patch should be allowing these Political "BLOGS" on here. It's going to become a dumping ground for political parties to attack each other if the trend continues
Loretta Pioch
7:54 am on Friday, June 22, 2012
I agree.
Especially since they are not "local voices."
With the elections drawing nearer, these can only increase.
I know some people thrive on this, but it turns my stomach.
I know all the places I can go to get such politically-charged perspectives. I don't need them pushed to me through Patch.
Danielle Masterson
8:34 am on Friday, June 22, 2012
While Patch understands politics aren't for everyone, we do plan on posting political content as the election draws nearer. It is the readers' choice whether they view it or not.
Our Local Voices section is open to everyone affiliated with Woburn in some way. This blog by the Mass Dem Party does relate to Woburn, so it was posted. We would love for the state Rep Party to do the same! If anyone has a contact with them, please let me know!
Earnhardt
5:52 pm on Friday, June 22, 2012
Danielle this time I cannot agree with you. This is how it starts, This is something put out by the dems to inflame a race against the republicans, That is all it is.. Dont hold it against me ok?:)
Danielle Masterson
5:54 pm on Friday, June 22, 2012
Would never hold it against you! :) What makes this world awesome is we all have opinions and the freedom to share them. I just hope we continue to have all opinions represented here on WuPatch!! :)
David Chesler
10:46 am on Friday, June 22, 2012
Agreed Earnhardt. (You know how hard it is for me, but I won't address the merits. :-) )
This relates to Woburn only in that like everywhere else, Woburn has kids who will be taking out new student loans. Replace the name and the number and the same press release works across the country that there is a Republican senator.
Earnhardt
5:53 pm on Friday, June 22, 2012
Thanks David, on this we agree! isnt America great?
David Chesler
5:55 pm on Friday, June 22, 2012
We agree, and the the skies open up with lightning. Coincidence? :-)
Earnhardt
5:56 pm on Friday, June 22, 2012
Well i guees theres a message in there somewhere! peace to you! :) enjoy your weekend,
Earnhardt
6:00 pm on Friday, June 22, 2012
Hey Danielle, enjoy your weekend! :)
Danielle Masterson
6:19 pm on Friday, June 22, 2012
You too!! :)
Loretta Pioch
8:45 pm on Friday, June 22, 2012
David made my point more clearly.
The exact same post can be found for Framingham, Norton, Watertown, Medford, Marlborough, North Andover, Salem, Tewksbury, {have I made my point?}
I'm a big kid now, so, yes, I know I can choose what to read and what not to read. It just does not seem at all appropriate for "Local Voices."
Pat
1:13 am on Saturday, June 23, 2012
As a parent to one who is affected by the increase I feel it is a local issue. I have lived in Woburn all my life and so do my children. It can't get anymore local than that.
just an observer
1:51 am on Saturday, June 23, 2012
i notice no one is refuting the facts as presented. just the fact that they were presented.
David Chesler
9:48 am on Saturday, June 23, 2012
That's because this is the wrong forum.
We're electing a President and like 2/3 of the country a Senator this year. Dozens of issues that go into those elections will have local impact, but that doesn't make them local issues. (I don't know about Patches in general. On many forums, such as WoburnChat, politics can get so divisive it gets shoved off to someplace special, in that case a second mailing list/Yahoogroup called WoburnDemocracy.)
The first person killed in the Revolutionary War, and the last person killed in the Vietnam War, were Woburnites. Those facts are local, but foreign policy isn't a local issue, neither are domestic budget issues.
This part of the blogs is labeled "Local voices" -- who authored the post?
Athena
7:36 pm on Saturday, June 23, 2012
Its a miracle the Chesler and Earnhardt agree! And on that note, I too believe that political propaganda has no place in the "Local Voices" section. Now, if a person wanted to voice their opinion about the student loan interest topic, that would be fine. But something posted by the MA Democratic Party is clearly aiming to get votes. Make a new section specifically for political discussions. I read the local voices section to hear about my neighbors and learn about their personal experiences. I have zero interest in reading about politics.
Earnhardt
8:27 am on Monday, June 25, 2012
Well said Athena! well said! Thats exactly the point. A person who wants to comment is welcome to. But Political parties should not spread there diatribe on patch. As for Me and Chesler agreeing..I'm kind of speechless on that one. but I think from time to time it will happen, He is OK when he thinks like me! LOLOLOLOL ;)
Danielle Masterson
6:02 pm on Monday, June 25, 2012
We totally accept and have heard everyone's viewpoints on this. :) That said, Woburn Patch is a part of a larger Huffington Post Media Group initiative to cover the 2012 Elections. And that means hearing from politicians, political parties and voters on the site and in Local Voices - as long as it has something to do with Woburn. While, yes, similar posts were found in other Patches, the Mass Dem Party did do the legwork to find out what the local effect was and that was why it was posted on WuPatch. Everyone is welcome to do the same, and I did ask my colleagues this morning for any contact information for the Mass Rep Party. We want all opinions here and we welcome them—as long as they have a Woburn angle! :)
Brad Marston
12:25 pm on Tuesday, June 26, 2012
One problem with the post is that the numbers are wrong and the lack of a full explanation is misleading. They claim that the increase in rates will cost an average of $1,000. First, the new rates would apply only to new loans, not existing ones. The maximum Stafford loan is $5500 per year or $22,000 over 4 years. 3.4% on $22,000 is roughly $750 pear year and that's only for an incoming Freshman. An incoming Senior can only borrow $5500 so his/her added interest expense would only be $187 per year. Across all classes the average increase is less than $475 per year.
The second problem is that it says nothing about the Democrats voting down a Republican bill that would have paid for the cost by cutting spending from the Affordable Care Act. Instead the Democrats are insisting that it be paid for by increasing taxes and fees on corporate pension funds.
Perhaps if the Patch is going to print political commentary from either party they should add the disclaimer that Patch has made no effort to determine the veracity of statements made in the following.