Another call to action... Be a STAR supporter!
As you undoubtedly know, the Massachusetts Institute of Technology is a Direct Lending institution, allowing you to borrow your student loans directly from the federal government, without the complicated involvement of banks and other lenders. Congress is now considering new legislation called The Student Aid Reward Act (STAR) that if passed will provide significant additional federal grant aid to needy students at Direct Lending schools.
Click here to learn more and take action.
The Direct Loan program is cheaper for the government than the bank-run Federal Family Education Loan Program (FFELP) by about $11 per hundred dollars loaned. The STAR Act captures the dollars Massachusetts Institute of Technology saves federal taxpayers because it participates in Direct Lending instead of FFELP, and gives 50% of that savings back to Massachusetts Institute of Technology for its needy students.
- Our 2003-2004 Loan Volume: $19,382,941
- 11% Savings to Taxpayers: $1,938,294
- Annual STAR Reward funds for our school: $1,066,062*
This is the single best chance for Massachusetts Institute of Technology's neediest students to receive a significant increase in federal grant assistance for at least the next decade! Required is additional support and sponsorship in both the House and Senate for STAR to become law. That's where students can make the most difference...
Would you please do the following right away?
Click HERE to learn more and send a letter to your Senators and Members of Congress. It will take only 2 minutes. Your intervention is essential for passage of STAR and increased aid for Massachusetts Institute of Technology's students.
Please act today!