Obama Wants ‘An Amen’ On Keeping Student Loan Rates Low
Matt | On 24, Apr 2012
President Obama paid a visit to North Carolina on Tuesday afternoon to rally college students about an important topic … student loan debt.
Speaking on the campus of the University of North Carolina – Chapel Hill, the president reminded students that the fate of many of their federal student loan debts are soon in the hands of Congress. The current interest rate of 3.4 percent is set to double to 6.8 percent in July if lawmakers don’t act to keep rates low. The hike could tack on an additional $1,000 annually for the remainder of the loan.
This potential lapse in financial help for students has created the perfect inroads for the Obama Administration and the campaign to rally young voters.
Expect to see the president continually beating the drum of support for keeping student interest rates low. They have hopes that many of the debt-ridden students will register to vote and/or head to the polls in November. It’s pretty simple and the students’ age range is in the sweet spot of the tough 30 and under crowd.
The president better ride this student loan pony until it gives out! Young voters aren’t as enthusiastic as hoped about Obama due to several of the Administration’s missteps and unmet promises from the 2008 campaign.
ANSWER IN THE COMMENTS SECTION BELOW:
Do you think Congress will let student loan rates double in an election year?