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| | HR0332 | | LRB098 12037 MST 45650 r |
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1 | | HOUSE RESOLUTION
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2 | | WHEREAS, Nearly 20 million Americans attend college each |
3 | | year and of that 20 million close
to 60% or 12 million students |
4 | | borrow annually to help cover costs; and
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5 | | WHEREAS, There are approximately 37 million student loan |
6 | | borrowers with outstanding
student loans today; and
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7 | | WHEREAS, The Consumer Finance Protection Bureau reports |
8 | | that there is $1 trillion in total
outstanding student loan |
9 | | debt in the United States today; and
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10 | | WHEREAS, As of the first quarter of 2012, the under 30 age |
11 | | group has the most borrowers at 14
million, followed by 10.6 |
12 | | million for the 30-39 group, 5.7 million in the 40-49 category,
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13 | | 4.6 million in the 50-59 age group, and the over 60 category |
14 | | with the least number of
borrowers at 2.2 million for an |
15 | | overall total of 37.1 million; and
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16 | | WHEREAS, The interest rates on some popular federal student |
17 | | loans are set to double in 2
months as part of the United |
18 | | States House of Representatives budget plan that would
allow |
19 | | the rates on those loans to climb to 6.8 percent on July 1, |
20 | | 2013; and
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