US House to Current Student Loan Holders: "Sorry about your luck!"

H.R. 4872, the Health Care & Education Affordability Reconciliation Act of 2010, includes wording to remove subsidies to private loan providers. That's all fine and well, but Section 2214 of the bill - the section previously touted by the Young Democrats to help those of us currently drowning in student loan debt - only reduces payments and payment maximum terms for "New borrowers on and after July 1, 2014." Other wording earlier in the bill suggests that Federal consolidation loans may not be available for current borrowers come 2014, thus making us ineligible to become a "new borrower." This is unacceptable. If you find problems with this, you should contact your Senators immediately as the bill has already passed the House.

Update: The bill will soon be sent back to the House. Try contacting your House members as well!