There is quite the kerfuffle in congress this year regarding freezing interest rates and the possibility of a serious ripple effect that might extend the way to financial aid. The argument is that exorbitant interest rates (which are possibly projected to jump to 7.8 percent by July) will put an unnecessary and altogether unfair burden on students upon graduation when they eventually need to pay them off. President Obama himself has said that when he and his wife Michelle graduated from college “We didn’t come from wealthy families. When we graduated from college and law school, we had a mountain of debt. When we married, we got poor together,”
Needless to say this is quite the hot topic.