382,000 Ohio Students Who Would Be Affected By Impending Rate Hike Deserve A Straight Answer From Josh Mandel

COLUMBUS, OHIO – As the Senate returns to session this week and prepares to vote on Senator Sherrod Brown’s Stop the Student Loan Interest Rate Hike Act of 2012, absentee Treasurer Josh Mandel has yet to take a firm position on Brown’s bill that would prevent interest rates on federal Stafford loans from doubling for 382,000 students in Ohio and 7.4 million students nationwide.

With the cost of college skyrocketing and Ohio students graduating college saddled with an average loan debt of $27,000, a fact rated “True” today by the nonpartisan Politifact Ohio, Brown took action and introduced the bill to keep the interest rate on federal Stafford loans permanently at 3.4 percent. If Congress fails to act, that interest rate is scheduled to double to 6.8 percent on July 1.

Unsurprisingly, in Mandel’s latest attempt to stonewall voters and avoid taking positions, his campaign “refused to offer specifics” on Mandel’s position, instead describing it “indirectly.” Ohio’s middle class families are still left to wonder, would Josh Mandel vote against Sherrod Brown’s bill to keep the cost of college affordable?

The Mandel campaign’s indecipherable and rambling answer that talks about the deficit doesn’t provide much help in determining Mandel’s position, but it does indicate that he doesn’t know much about Sherrod’s bill, which would cut the deficit.

“Josh Mandel’s attempt to dip, dodge and duck taking a position is nothing new, but Ohio middle class families nonetheless deserve a straight answer from Josh on whether he supports Senator Brown’s bill to keep college affordable – a simple yes or no will do,” said Sadie Weiner, spokesperson for Friends of Sherrod Brown. “So far, Josh Mandel has been on the wrong side of the issues that affect middle class families, and this time, Mandel needs to answer to the 382,000 Ohio students and countless others students who hope to attend college with the help of federal Stafford loans and who are wondering if Josh Mandel would vote to let the cost of their education rise dramatically.”

Background

The Increase In Student Loan Rates Would Affect An Estimated 7.4 Million Students.  In April 2012, The Cleveland Plain Dealer reported that Senator Brown’s “attempt to block an increase in the interest rate for federally subsidized Stafford student loans, important because without congressional action by July 1, the interest rate for new loans will double, affecting an estimated 7.4 million students.”  [Cleveland Plain Dealer, 4/28/12]

Sen. Brown’s Bill Would Cut The Deficit By $31 Million.  In April 2012, The Cleveland Plain Dealer reported “Brown’s bill would have no added costs to taxpayers or raise the deficit. In fact, it would cut the deficit, by $31 million, the CBO said. But that’s a budgetary analysis, not a political one.” [Cleveland Plain Dealer, 4/28/12]

Headline: “Josh Mandel’s Press Secretary Refuses To Offer Specifics On Candidates’ Position On Senate Bills” [Cleveland Plain Dealer, 4/28/12]

• Mandel Refused To Support Bill By Senator Brown To Keep Interest Rates From Doubling.  In April 2012, The Cleveland Plain Dealer wrote “Mandel’s position? It appears that Mandel would support keeping student loan rates low if there is another way to pay.”  [Cleveland Plain Dealer, 4/28/12]

 

• Mandel Communications Director Described Mandel’s Position “Indirectly.”  In April 2012, the Cleveland Plain Dealer reported that Travis Considine, Mandel’s communications director, described Mandel’s position “indirectly.”  [Cleveland Plain Dealer, 4/28/12]

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Paid for by Friends of Sherrod Brown