Wilmington, NC (WWAY) — With so many college students on federal loans, the reaction to interest rates possibly doubling has many Wilmington students upset and hoping the President continues to push Congress on extending the current rate.
“I think it’s a really smart political move right now,” said CFCC pre-med student, Zachary Jordan.
Jordan is just one of about seven million American college students using federal aid to pay for school.
According to a recent survey, 65% of CFCC students are on some type of financial aid. Spokesman David Hardin says that number is only going up.
“If they’ve got financial strains, it’s going to be the reason why they’re not going to be able to finish, they may come back later or not finish at all so it’s going to have an impact directly on the students future,” Hardin said.
Students say the President’s push to keep interest rates low has definitely gotten their attention.
“I think it will be a good idea,” said Chloe Coleman. “Don’t raise it, I mean it would be good if we could lower it, but don’t make it any harder for us.”
President Obama also plans to visit college campuses in Colorado and Iowa.