Rapid Recovery Solution and Commercial Collection Agencies Await Legislation on Student Loan Rates
Bohemia, NY (PRWEB) July 11, 2013 -- On July 11, one of Long Islands top commercial collection agencies, Rapid Recovery Solution, Inc. is keeping a close eye on recent movements by House Republicans to regulate rates on student loans.
According to an article published on July 8 by The Washington Post titled “House Republicans bash Senate Dems on student loans”, the GOP has taken issue of late with their opponents’ lackadaisical approach to protecting college students and refusal to enact new legislation.
Elected officials united with college students on Capitol Hill this past Monday to bring public attention to the ongoing crisis in America. National student debt has surpassed $1 trillion and exhibits few signs of slowing down. The abbreviated movement was directed at Senate Democrats and their termination of a recent student loan bill.
The bill, which passed in May by a Republican-controlled house, specifically targeted Stafford loans. These loans of contention are popular among undergraduates, yet frequently harmful to young professionals due to their 6.8% interest rates. Previously, federal legislation subsidized these rates to 3.4%, but such restrictions expired in July. Democrats continue to voice support for future subsidies or regulations, but oppose the Republican solution of variable interest rates due to their potential volatility. An extension of the 3.4% rate could be passed very soon.
John Monderine, CEO of leading collection agency, Rapid Recovery Solutions, Inc., offers his expert opinion on the subject. “Student loans are essential for our youth’s advancement through academia, yet often crippling upon their graduating. Our government should take an active approach towards alleviating these burdens.” He offers further insight. “It is the responsibility of my firm to work alongside indebted students as they manage college loans and enter the workforce.”
Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.
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Sean Nolan, Rapid Recovery Solution, Inc, http://www.rapidrecoverysolution.com, 866-944-8610, [email protected]
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