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American college students held demonstrations to protest against loans which can reach one trillion dollars

April 28,2012 by: admin

The protest was shown while the US president was visiting different colleges for pressurizing Congress to extend the low rate of interest on college loans which involves more than seven million and four hundred thousand students. If Lawmakers can’t act on time then the rate of interest on loans are likely to get doubled in the month of July hitting one to nearly seven percent.

The President narrated his struggle to pay off student loan. Mr. Obama visited the University of Iowa, located in Iowa City, on Wednesday and talked to students regarding his campaign which asks for education to be made affordable .The president visited Colorado and North Carolina on Tuesday.

On Wednesday, the Union Square of New York City Saw a gathering of several hundreds of Students who were wearing placards where their debt amounts were inscribed and were protesting against One Trillion Dollar Day.

They burnt documents on student debt and displayed placards saying “Debt Free Degrees “and Education in America: Don’t Bank on It”

One of the students named Hadi Nassar aged 31 reported that he was giving his plans of working at a community health clinic a second thought. His eight years long education on undergraduate and dental school course had put him in a debt of one hundred and eighty six thousand dollars. Other students also expressed their dissidence and anger stating that education is not worth the debt they have to bear.

Organizers of the protest made a comparative study of the student loans which crossed all form of consumer debt.

In the University of Wisconsin located in Madison, as many as almost twelve students protested outside Memorial Library, asking for signatures from students and others.

Many other students also said that the loan is huge and it will be difficult for them to buy a house acquiring affordable mortgage. The scenario is bleak to say the least.

Mitt Romney, the presumptive Republican presidential nominee, also said that he is supportive about the extension of the interest rate but he criticized the Obama administration blaming them for the economic condition   for which  the students are suffering.

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