President Obama went on the road this week to universities in North Carolina, Colorado, and Iowa, where he spoke about the urgent need for Congress to keep college affordable. If Congress doesn’t act before July 1st, federal student loan interest rates will double for approximately 7.4 million young Americans. The White House blog reports:
Right now, the unemployment rate for Americans with a college degree or more is about half the national average. Their incomes are twice as high as those who don’t have a high school diploma.
But the cost of college is on the rise, and students are taking on more and more debt to pay for the education they need. President Obama has worked to help make sure that every student who is willing to work hard can earn a college degree. Now he’s calling on Congress to do their part by passing legislation that will prevent interest rates on federal Stafford loans from doubling in July.
Visit whitehouse.gov/double to find more ways you can help save college students an average of $1,000 in debt—and if you’re on Twitter, use the hashtag #DontDoubleMyRate to tell Congress to take action.