When Obama was elected in 2008 it was young voters who made the difference. Now, he is making a move to get those young voters back on his side.
Obama is calling on Congress to keep student subsidized Stafford loan interest rates from doubling. If Congress does not act by July 1, students who have to pay off these loans will rack up another $1,000 per year in debt.
With more than 7.5 million students paying off these student loans, this is a hugely important issue. The students of today represent the future of this country, and piling more debt on their backs could drastically affect how their lives pan out.
It takes years to pay off student loans, and if students are forced to pay an additional $1000 per year, it will make their burden even greater.
Obama seems to understand that higher education is something that every person in America should be able to afford.
He criticizes the Republicans for approving tax cuts for wealthy millionaires while college students have to suffer.
It does not make sense that people who paid a lot less for their education and were able to thrive in the past have no interest in helping students of the present.
This is a major reason why students need to get out and vote during this election.
The result of this election will have a huge impact on the amount of debt students will have to pay off once they are out of school.
Congressional Republicans do not seem to understand the importance of affordable higher education, while Obama clearly does. This is an issue all students can understand which is why it is so important for us to vote.
These interest rates will only affect students who take out loans after July 1 if congress does not intervene. Students, especially in California, take more than four years to graduate these days, so racking up loans is especially inconvenient.
Hopefully Congress will listen to President Obama and keep students from accruing thousands of dollars of debt due to this increase in interest rates. With tuition rates as high as they are already with fees constantly added, this would make college almost impossible to afford for many families.
Hopefully, this move by President Obama will catch young voter’s attention again and get them back on Obama’s side. Making this announcement was a huge move to pick up the young vote, but it seems like Obama legitimately believes in it as well. Hopefully he will make it a permanent part of his platform.
People who are against Obama’s decision are using the argument that this decision comes down to piling billions on the backs of taxpayers.
If this is the case, then it does not make sense to ask students to pay. Students have not yet had the chance to start their career and get the financial support that they need to pay off their debt.
It is understandable that the money has to come from somewhere, but we cannot allow the wealthy to avoid paying for it while students suffer.
We are already dealing with tuition raises and unit caps, doubling our student loan interest rates would simply be too much.
