The topic du jour on the presidential campaign this week has been student loans, and while candidates work to point out their philosophical differences, it appears they are in harmony on keeping interest rates on those loans in check.
From Chapel Hill to Aurora, Colo., to Cedar Rapids, Iowa, President Barack Obama has been talking to college students over two days about student-loan interest rates which are scheduled to double come July 1 when the federal rate cut approved five years ago expires.
“Americans now owe more on their student loans than they do on their credit cards,” the president told students at the University of North Carolina on Tuesday. “And living with that kind of debt means that this generation is not getting off to the same start that previous generations — because you’re already loaded up with debt.”
Republican Mitt Romney, considered by many the presumptive GOP nominee for president, echoed a similar sentiment during a campaign stop in Pennsylvania on Monday.
“I support extending the temporary relief on interest rates for students,” Romney said prior to winning five Republican primaries Tuesday.
Either way, it should be good news for college students who are looking to improve their lots in life without collapsing under the financial strain of paying for an education.
We know that education is essential in order to remain competitive in the global economy. Our hope is that these candidates hold true to their word to give students the best opportunity for their futures.