Photos by Christian Kennedy
Reporting by Oli Peters
Hundreds of Iowans filled the Iowa City Field House today to see President Barack Obama give a 30 minute speech about college loans. Unless Congress acts before July 1, the rates on certain federal student loan interest rates will double, adding thousands of dollars to the cost of a college education.
“The average student who borrows to pay for college now graduates with about $25,000 in student loan debt. And in this state, it’s even higher,” Obama said. “When a big chunk of every paycheck goes towards loan debt, that’s not just tough on you, that’s not just tough on middle-class families — that’s not good for our economy, because that money that could be going into businesses is going just to service debt.”
The University of Iowa is the third college campus Obama has visited this week in an attempt to reach out to younger voters. Hannah Titus ‘14 was one of many City High students in the crowd.
“I’m going to have to pay college loans,” Titus said, “and I don’t want to have to be paying off loan debt forever.”
The President wrapped up his speech after asking for help from Iowans to “keep the heat on Congress until this gets done.”
“Now is not the time to double the interest rates on our student loans. Now is the time to double down on starting investments that build a strong and secure middle class,” Obama said. “Now is the time to double down on building an America that’s built to last.”
