Obama: How Are You Ever Going To Pay Off That Student Loan?
President Obama gave a speech in North Carolina earlier today on the importance of Congress extending the interest rate cut on student loans to keep them from doubling. His words were particularly sobering:
"For the first eight years of our marriage, [Michelle and I] were paying more in student loans than what we were paying for our mortgage. So we know what this is about.
"And we were lucky to land good jobs with a steady income. But we only finished paying off our student loans—check this out, all right, I’m the President of the United States—we only finished paying off our student loans about eight years ago."
Yeah, you're never paying off your student loans.
Despite initially arguing against it, and even railing against an extension as recently as earlier this afternoon, the Republicans seem to have had a change of heart. House Speaker John Boenher just introduced legislation this afternoon to extend the rate cut for another year.
Why the abrupt change of heart? Maybe this helped melt their hearts.