Andrew Rosenkranz says at least two or three times a week, he finds himself sitting across from an employee at his market research firm near Seattle, listening to some complicated personal problem.
Just last week, an employee described how her daughter and baby granddaughter were assaulted by a boyfriend. The daughter wanted to come back to Washington state but didn't have money for a plane ticket. And so, Rosenkranz says, the employee "was coming to ask, 'Hey, is there anything you can do to help us here?' "
Rates on federally subsidized Stafford loans, which help low and middle-income college students, doubled on July 1. There is now pressure for a deal to undo the increase. NPR's David Greene talks to Matthew Chingos, a fellow at the Brookings Institution's Brown Center on Education Policy.
President Obama, with Education Secretary Arne Duncan at his side, calls on Congress on June 21, 2012, to stop interest rates on student loans from doubling. He is going to make that appeal again Friday.
President Obama surrounded himself with college students at the White House on Friday and warned that the cost of student loans is about to go up.
Interest rates on government-backed college loans are set to double July 1 — unless Congress agrees on a fix before then. Obama has threatened to veto a House-passed bill that would let the cost of student loans go up and down with the market.
Many high school seniors who are heading to college this fall have just paid their tuition deposits — the first real taste of what the college experience is going to cost them. These students are heading to school at a time that some consider a transformative moment for American colleges and universities. Costs are skyrocketing, and there are some real questions about what value college students are getting for their money.
During the housing bust, taxpayers were forced to bail out mortgage giants Fannie Mae and Freddie Mac. But thanks to the real estate recovery, Fannie Mae could end up paying tens of billions of dollars back to the Treasury this summer.
That's just one of the factors behind a better bottom line for the federal government. This week, the Treasury Department announced it will pay down some of its debt for the first time in six years.