President Obama issued a warning that if the Congress does not act soon enough, the student loan rate will double by the end of this month. The President urged the students to tweet with the hash tag #DontDoubleMyRate. While both Republicans and Democrats agree the rate hike that increases the interests rate by around $1000 per student is bad, they have not reached the point to agree on how to pay the $6 billion, the cost of keeping the rate down.
The Congress has a very low approval rate in this election year. "If the Congress do not act (again)", the President said, 7.4 millions will suffer the interests hikes. President Obama said to students it is their voice that counts to the lawmakers in the Congress. Send messages to your lawmakers, make phone calls, email, tweet, let them hear your voices, he said.
The unemployment rates of people who has at least college degrees are lower than those without degrees, the President emphasized the importance of getting education. The tuition, however, doubled over the last decade, he said, and we must act right now to stop the rate from going up next month. The Congress is playing a political game, he said, while taking the student loan interest rates hostage.
The political game can ruin the people's financial well-being. Let us hope the Congress find a proper way to fund for lowering the interest rates, and hope that the tax money to students won't be wasted on drugs, alcohols or any other follies.
The Congress has a very low approval rate in this election year. "If the Congress do not act (again)", the President said, 7.4 millions will suffer the interests hikes. President Obama said to students it is their voice that counts to the lawmakers in the Congress. Send messages to your lawmakers, make phone calls, email, tweet, let them hear your voices, he said.
The unemployment rates of people who has at least college degrees are lower than those without degrees, the President emphasized the importance of getting education. The tuition, however, doubled over the last decade, he said, and we must act right now to stop the rate from going up next month. The Congress is playing a political game, he said, while taking the student loan interest rates hostage.
The political game can ruin the people's financial well-being. Let us hope the Congress find a proper way to fund for lowering the interest rates, and hope that the tax money to students won't be wasted on drugs, alcohols or any other follies.