Monday, October 23, 2006

Chabot Boldly Lies To High School Students

From a Cranley PR:

CHABOT SLASHES STUDENT LOANS,
TELLS HIGH SCHOOL SENIORS HE DIDN'T


Chabot says one thing in Cincinnati, does the opposite in Washington

(Cincinnati -- OH-1) Yesterday, at a First District Congressional exchange for McAuley high school seniors, Steve Chabot denied his vote to cut over $12.7 Billion in student loans. Chabot also denied his vote to raise interest rates on student loans. What's worse, Chabot falsely claimed he increased student loans, even though he voted for the largest single cut to student loans in history.

This is just the latest example of Chabot voting one way in Washington -- like giving billions in royalty relief to oil companies -- then telling everyone in Cincinnati he did the opposite. Washington has changed Steve Chabot, it is time we make a change in congress.

Congressional candidate John Cranley promises to fight for supporting student loans and proposes to make college more affordable through tax credits and deductions.

Chabot voted for the largest single cut to student loans in history
Chabot recently voted for “the largest single cut” to student loans in history which will “increase the debt burden of students and their families” and "raises interests rates"...

"Congress raised interest rates on Stafford loans to a fixed 6.8 percent. Right now, rates on Stafford loans, which are variable and reset each year, are as low as 4.7 percent, the paper said. Stafford loans are popular among students because they don't have to demonstrate need to qualify for one.

The new legislation also raises interest rates on Parent Loans for Undergraduate Students to a fixed 8.5 percent from a variable rate currently set at 6.1 percent, the Journal said. Also known as PLUS loans, these loans are granted to parents rather than students.

The move to fixed rates will cost students and their families thousands of dollars over the life of the loan, the report said, citing estimates from Mark Kantrowitz, a financial aid expert."

(SEE ARTICLES AND CHABOT'S VOTE:
“Students to face heavier debt burden,” CNN Money, 2/08/06;
“Congress gets an F for student loan move,” The Chicago Sun-Times, 2/06/06;
"Concerns mount over higher rates on student loans," San Francisco Chronicle, 3/06/06; HR 653 Vote #4, 2/01/06)

HAD ENOUGH? ELECT CRANLEY TO CONGRESS

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