On Late Night With Jimmy Fallon last night, the President joined Fallon and the Roots to slow jam on the need to keep rates from doubling on Stafford Loans this summer. POTUS got his groove on and the audience--many of whom are probably dealing with their own crippling student loan debts--went wild. The "Barackness Monster" (who paid off his own student loans only eight years ago) and Fallon aren't alone in their advocacy on this issue: an editorial in the New York Times points out that, "At a time when many graduates are desperate for jobs, the interest rate increase would add an average of $1,000 a year to their debt." The Occupy Movement has taken on student loan debt as a signature cause this spring. And even Mitt Romney, "voiced support for keeping federal student loan interest rates from going up – a position that puts him at odds with Republicans in Congress." (Politico)
You've got to watch the Fallon video, and for further reading, see The Student Loan Scam: The Most Oppressive Debt in U.S. History—and How We Can Fight Back.
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