Patch Poll: Is President Obama Right to Push Congress to Freeze Interest Rates on Student Loans?
The president pushed the issue last week at the University of Iowa.
President Obama was in Iowa City last week pushing Congress to pass a $6 billion plan to freeze student loans at a 3.4 percent interest rate. If Congress doesn't act, the rate will rise to 6.8 percent on new loans in July, which translates to roughly a $1,000 per-student increase. Iowa was a logical place to include on the tour. Iowa's students leave college with $30,000 in student debt, which is third highest in the nation -- and Obama 2012 will be waging war in this battleground state. What do you think? Should Congress freeze student loans at a 3.4 percent interest rate -- at a cost of $6 billion? Vote in our poll and tell us what you think in the comments section below.
Maria Houser Conzemius
8:06 am on Thursday, May 10, 2012
It makes no sense to double the interest rates on student loan debt. Americans already owe $1 trillion in student loan debt. Some think that student loan debt could blow up the economy just like the housing bubble did. In 2010, student loan debt actually surpassed credit card debt. I've been assured that student loan debt goes away if you die or go to a nursing home. It won't go away otherwise, … more ›