Obama's Deja Vu Moment on Student Loans
By John Sandman
NEW YORK (MainStreet)--President Barack Obama has come to a fork in the road on student loans. It appears that he's decided to take it.
Borrowing a line from catcher-cum-philosopher Yogi Berra, Obama called a threatened rate hike on Stafford loans "déjà vu all over again" at a ceremony in the White House Rose Garden last Friday. Currently held by 7.4 million students, Stafford loans subsidized by the federal government are scheduled to jump from 3.4% to 6.8% on July 1 after a 2011 increase was deferred in an election year deal between Obama and then-candidate Mitt Romney.
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