April 23, 2012
Student Loan Interest Rates
President Obama used his weekly address to call on Congress to prevent student interest rates from doubling in July. He believes that we should be doing everything we can to put higher education within reach for every American because “at a time when the unemployment rate for Americans with at least a college degree is about half the national average, it’s never been more important.” Obama is calling on Congress to act before student loan interest rates double for more than 7.4 million students, adding an average of $1,000 to their debt. Congress has a chance to take action on what should be an area of bipartisan agreement to prevent this unnecessary and damaging increase in interest rates. Watch the President’s address here.