If Congress doesn't take action soon, interest rates on subsidized Stafford student loans will double—adding an average of $1,000 to every loan-saddled student's debt each year Congress fails to act. President Obama has consistently fought to keep college education affordable, and he's traveling across the country this week calling on Congress to act soon to prevent an interest rate hike.
Mitt Romney recently jumped on the bandwagon, shamelessly changing his tune to say he favors lower interest rates for student loans. The problem is, his recent statements in support of congressional action are in direct contradiction to his budget plans and previous rhetoric.
Romney has declared his support for the Ryan budget, calling the plan that would lock in the doubling of student loan interest rates and cut Pell Grants and other education programs "marvelous." And his best suggestion for cash-strapped students who are looking for the best college education available is to "shop around."
Yet again, as Rep. Chris Van Hollen put it in a call today, “What we’re seeing from Mitt Romney is an effort to try and have it both ways."
It all goes to show we can't trust Romney's on his words alone. He will say anything he thinks his audience wants to hear—as long as it furthers his election prospects. If Romney's really serious about helping students afford college and not add to their mountain of debt, he needs to prove it by calling on his Republican friends in the House to take action.
Otherwise, it's nothing but lip service.