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Obama Goes After Student Votes, at Taxpayers' Expense

Recorded on April 20, 2012

From The Heritage Foundation, I'm Ernest Istook.

President Obama this week speaks at colleges in three swing states that could help his re-election, in North Carolina, Colorado and Iowa. He'll tell students that he's trying to prevent any increase in the interest rate on their college loans.

Subsidizing those lower rates will cost taxpayers billions.

Last fall Obama visited colleges and talked about forgiving student loans. The students liked that, because college debt exceeds $1-trillion--more than credit cards; more than car loans.

But the federal subsidies for loans and grants are just pushing college costs higher and higher. Just like the pay for college professors and administrators.

Obama keeps criticizing businesses that earn money. Instead, he should help hold down college costs by not guaranteeing that taxpayers are going to foot the bill, no matter how universities keep raising the price of a college diploma.

From The Heritage Foundation, I'm Ernest Istook.