Tuesday, April 24, 2012

Student Loans

Today Obama went on a tour pandering to college voters about student loans and how they needed to be kept at 3.4%. According to the White House twitter account, if Congress doesn't pass this extension, students will see a $1000 increase in loan payments each year.

Ok, Mr. President. Let's do some math, then.

When you entered office gas prices were $1.79 nationally. Let's say the average gas tank for a car is 15 gallons and that a student, on average, filled his/her tank once every two weeks (a conservative estimate). That means the average student was spending $53.70 on gas every month- or $644.40 every year.

Today the national average for gas is $3.85. Using the above numbers, that means the average student is paying $1,386 a year for gas- a $742 difference.

If Obama was really concerned about helping college students, instead of pandering to them for votes, he would be focused on lowering gas prices and improving the job market (where only 1 in 2 college grads are employed full-time).

But he's not, he wants to divide and conquer to secure his own re-election.