Weekly Address: Calling on Congress to Prevent Student Interest Rates from Doubling

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In this week’s address, President Obama called on Congress to act before student loan interest rates double for more than 7.4 million students, adding an average of $1000 to their debt. Having a college education has never been more important, but it’s also never been more expensive. While the Obama administration has taken historic steps to provide Americans with a fair shot at an affordable college education, Republicans in Congress have instead prioritized huge new tax cuts for millionaires and billionaires. 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 and give our young people a chance to succeed in the jobs of today and tomorrow.

http://www.whitehouse.gov/the-press-office/2012/04/21/weekly-address-calling-congress-prevent-student-interest-rates-doubling

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