Sample Letter to the Editor

Dear Editor,

Financing a college education today is an increasing challenge for students and their families. At the same time, there is no better investment. Over a lifetime, college graduates earn, on average, more than $1 million more than individuals with high school degrees.

After grants, federal student loans are the single most important source of college financial aid available, making it possible for more students to attain a Bachelor's degree than any other form of aid available. These loans offer better terms than any other source of loan capital in the consumer marketplace and carry the best possible rate and terms.

Yet, antiquated borrowing limits force many students to turn to other forms of financing that are less desirable: working more hours, increasing credit card debt, and taking out private sector loans that offer less favorable terms. Federal loan limits have not been increased since 1992 – and freshman limits have been untouched since 1972! Current loan limits are simply too low to pay for today's college expenses. As part of the reauthorization of the Higher Education Act, lawmakers need to seriously consider an increase to federal student loan limits.

Congress also needs to look at other issues of the loan program, including providing more flexible repayment terms and extending loan forgiveness to graduates who take certain much-needed jobs, such as teaching in low-income areas.

All students deserve the opportunity to pursue a higher education. Let’s make sure the student loan program helps make those dreams a reality.

Sincerely,

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