UNDATED -- Student loan rates could double in July if Congress doesn't act fast.
President Obama stood with college students in the Rose Garden today to deliver that stern message. He says student loan debt is higher than the nation's credit card debt.
Come July 1st, increased interest rates will make it harden for those trying to get an education.
"Higher education can not be a luxury for a privileged few. It is an economic necessity that every family should be able to afford, every young person with dreams and ambition should be able to access and now is not the time to turn back on young people."
President Obama is hoping Congress adopts his plan to lock in interest rates and cap payments for all students, past, present and future, at 10% of their monthly income.
The Senate will vote on the Student Loan Bill next week.
President Obama stood with college students in the Rose Garden today to deliver that stern message. He says student loan debt is higher than the nation's credit card debt.
Come July 1st, increased interest rates will make it harden for those trying to get an education.
"Higher education can not be a luxury for a privileged few. It is an economic necessity that every family should be able to afford, every young person with dreams and ambition should be able to access and now is not the time to turn back on young people."
President Obama is hoping Congress adopts his plan to lock in interest rates and cap payments for all students, past, present and future, at 10% of their monthly income.
The Senate will vote on the Student Loan Bill next week.
