Democracy Now: Obama Urges Student Activism Ahead of Loan Deadline

Congress is facing a looming deadline to extend low-interest rates on federally subsidized Stafford loans or plunge millions of students into deeper debt. The rates were reduced to 3.4 percent in 2007 but will double on July 1st for new loans unless Congress intervenes. On Thursday, President Obama urged a group of students visiting the White House to pressure lawmakers.

President Obama: “You keep this going. Don’t stop until it’s actually done. There is nothing more powerful than millions of voices that are calling for change, and all of your voices can make a difference. So keep telling Congress to do what’s right, to get this done. Tell them now is not the time to double interest rates on your student loans. Tell them to double down on an investment in a strong and secure middle class — and that means your education.”


~ by wheresthemic on June 23, 2012.

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