Obama Campaigns for Congressional Action on Student Loan Rates
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President Barack Obama is pressing Congress to freeze interest rates on U.S. student loans, putting the spotlight on an issue with appeal to the middle-income and younger voters who are crucial to his re-election strategy.
Interest rates on federally-subsidized Stafford loans are scheduled to increase to 6.8 percent on July 1 from 3.4 percent. The rate increase would affect about 7.4 million students, according to the White House.