“My government is making money off of me,” said Lisa Rapaszky, a grassroots organizer who recently earned her master’s degree and says she has more than $30,000 in student loan debt, in an Education Department hearing recently. The hearing was meant to gather feedback from members of the public as the department works with experts to change federal law and allow for widespread forgiveness.
Rapaszky, 50, emphasized that student loan interest reform would go a long way toward helping her pay off her loans, remain in her public service research field and save for retirement. Once payments resume, she said, her estimated accrued interest will cost nearly $5 a day. “It’s just too much,” she said, noting her interest rate is 5.28%. “That is not a good interest rate – and in this case, it’s coming from my government.”
