Obama Slow-Jams the News
Judging by Barack Obama’s appearance Wednesday on “Late Night With Jimmy Fallon,” where he “slow-jammed” his supposed support for debt-strapped graduates, the president’s campaign machine is after the student vote again.
On July 1, the interest rate on subsidized student loans will double, from 3.4 to 6.8 percent, if Congress fails to renew a 2007 law that reduced the rate. If Congress does nothing, the 7.4 million students who currently have Stafford loans will face an average increase of $1,000 per year on what they owe. –ARK
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