OBAMA VISIT: President Talks Student Loan Debt
President Barack Obama spoke about student loan debt Wednesday afternoon at the University of Iowa in Iowa City.
In front of a packed crowd at the field house on the U of I campus, Obama outlined his major goals to help students out. He called for an extension to a tuition tax credit for families, protecting aid for low income students, and doubling work study jobs over the next five years.
Obama is urging students across the nation to contact their legislators about making sure Congress doesn’t double the interest rate on federal loans. Rates will rise to 6.8-percent if Congress doesn’t act by July 1st.
Obama said students in debt will pay about $1,000 a month extra repaying their loans if the rate isn’t kept stable.
“This isn’t about class warfare. We want every American to succeed,” Obama told the crowd.