June, 29 2012, 03:19pm EDT

Responding to Students, Congress Extends Low College Loan Rate
Student Loan Interest Rates Will Not Double On July 1
WASHINGTON
Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the Congressional passage of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling:
"Congress listened to students and their families and delivered a bill that stops student loan interest rates from doubling. Students already face unprecedented student loan debt and adding an additional $1,000 more would not only crunch individual borrowers, but would have further weighed down the recovering economy. We applaud Congress for coming together to pass this much-needed legislation.
"Without Congressional action, the interest rate would have doubled from 3.4% to 6.8% on July 1st. An interest rate increase would result in additional debt over the life of the loan for 7.5 million low and moderate-income students who borrow new federally subsidized Stafford loans next year.
"Three months ago observers couldn't predict whether Congress, mired down by partisanship and focused on the November election, would act on this critical issue. Yet a wave of student and borrower mobilization changed the political calculus, confirming that college affordability is a key concern for young people, their families, and anyone who cares about the U.S. having a high-skill, competitive economy. Today's victory is another important step in getting rising student loan debt under control. When Congress considers further action to decrease student loan debt, they'll know that students are paying close attention.
"Students and borrowers saddled with debt all across the country made their voices heard. In March, dozens of students gathered in front of the Capitol to deliver over 130,000 letters telling Congress Don't Double My Rate! In May and June, students lobbied their lawmakers and participated in media events to amplify their voices. Student body presidents across the country rallied their campuses, with 275 presidents writing letters to their lawmakers and newspapers demanding action to extend the current low rate.
"Widespread action across the country continues to show Americans strongly support making college affordable. A large coalition of student, youth, consumer, parent, higher education and religious groups organized dozens of on-the-ground events in districts and mobilized hundreds of thousands of citizens to call or write their lawmakers.
"The House of Representatives passed legislation on Friday with a strong bi-partisan vote of 373-52 and the Senate passed the bill with a 74-19 vote. The student loan provisions were included in H.R. 4348, which included a package of issues including the 2-year reauthorization of the transportation bill. The President is expected to sign the bill before Sunday."
U.S. PIRG, the federation of state Public Interest Research Groups (PIRGs), stands up to powerful special interests on behalf of the American public, working to win concrete results for our health and our well-being. With a strong network of researchers, advocates, organizers and students in state capitols across the country, we take on the special interests on issues, such as product safety,political corruption, prescription drugs and voting rights,where these interests stand in the way of reform and progress.
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"The harm caused by deep-sea mining isn't restricted to the ocean floor: It will impact the entire water column, top to bottom, and everyone and everything relying on it," one campaigner warned.
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Amid global calls for a ban on deep-sea mining to protect marine ecosystems, U.S. President Donald Trump on Thursday signed an executive order to advance the risky practice and "restore American dominance in offshore critical minerals and resources."
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"Authorizing deep-sea mining outside international law is like lighting a match in a room full of dynamite—it threatens ecosystems, global cooperation, and U.S. credibility all at once."
Deep-sea mining is opposed by over 30 countries as well as academics and advocacy groups worldwide. Among them is Greenpeace USA, whose campaigner Arlo Hemphill said Thursday that "authorizing deep-sea mining outside international law is like lighting a match in a room full of dynamite—it threatens ecosystems, global cooperation, and U.S. credibility all at once."
"We condemn this administration's attempt to launch this destructive industry on the high seas in the Pacific by bypassing the United Nations process," Hemphill declared. "This is an insult to multilateralism and a slap in the face to all the countries and millions of people around the world who oppose this dangerous industry."
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No exaggeration, deep sea mining could cause the massive collapse of the entire deep sea ecosystem and food chain. This is an existential risk to every person on this planet. www.nytimes.com/2025/04/24/c...
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— Alejandra Caraballo (@esqueer.net) April 24, 2025 at 5:54 PM
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He highlighted that "NOAA is already being threatened by this administration's unprecedented cuts. NOAA is the eyes and ears for our water and air. NOAA provides Americans with accessible and accurate weather forecasts; it tracks hurricanes and tsunamis; it responds to oil spills; it keeps seafood on the table; and so much more. Forcing the agency to carry out deep-sea mining permitting while these essential services are slashed will only harm our ocean and our country."
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As The New York Timesreported:
The executive order could pave the way for the Metals Company, a prominent seabed mining company, to receive an expedited permit from NOAA to actively mine for the first time. The publicly traded company, based in Vancouver, British Columbia, disclosed in March that it would ask the Trump administration through a U.S. subsidiary for approval to mine in international waters. The company has already spent more than $500 million doing exploratory work.
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In response to the late March disclosure—which came during International Seabed Authority negotiations—Louisa Casson, senior campaigner for Greenpeace International, said that "this is another of the Metals Company's pathetic ploys and an insult to multilateralism. It shows that a moratorium on deep-sea mining is more urgently needed than ever. It also proves that the company's CEO Gerard Barron's plans never focused on solutions for the climate catastrophe."
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Casson stressed that "states, civil society, scientists, companies, and Indigenous communities continue to resist these efforts. Having tried and failed to pressure the international community to meet their demands, this reckless announcement is a slap in the face to international cooperation."
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The Norwegian government in December halted plans to move forward with deep-sea mining in the Arctic Ocean, which Steve Trent, CEO and founder of the Environmental Justice Foundation, had called "a testament to the power of principled, courageous political action, and... a moment to celebrate for environmental advocates, ocean ecosystems, and future generations alike."
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