President Obama was pandering to students today and sounded more like a preacher than a president. He was talking about extending a law keeping student loan interest rates low that was passed by President Bush. He didn’t bother to vote for the legislation when he was Senator, by the way. Now he’s preaching about it.
“The fact is that since most of you were born, tuition and fees at America’s colleges have more than doubled,” Obama said. “And that forces students like you to take out a lot more loans, there are fewer grants, you rack up more debt. Can I get an ‘amen’?”
As far as I know, he didn’t advise students against racking up student loan debt for degrees in things like art history, philosophy or English literature that are unlikely to result in decent paying jobs.