Petition to Protect Local Jobs!

Whereas, unemployment in the United States is approaching 10% — the highest point in decades; and,

Whereas, student loan providers employ 35,000 people across the nation ; and,

Whereas, student loan providers and their employees have been committed supporters of community-based organizations and strong contributors to the local economy; and,

Whereas, the current private sector-based student loan program successfully served 6.4 million students in the 2007-2008 academic year ; and,

Whereas, student loan providers present academic institutions and their students across the country with competitive options for federal student loans; and,

Whereas, nearly 80% of schools have chosen private lenders, these proposed federal reforms will in turn place heavy financial burdens and disruptions those 4500 academic institutions who will be forced to make the transition and,

Whereas, legislative proposals in Washington, D.C. to restructure federal student loan programs will result in large-scale job losses across 50 states.

We, the undersigned residents of the United States urge our elected representatives in Congress to fight to protect good, family-supporting student loan industry jobs in our communities and competitive options for schools and their students, while reforming federal student loan programs and investing savings in need-based college financial aid.

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