WASHINGTON — President Barack Obama signed into law Friday a measure restoring lower interest rates for student loans, pledging the hard-fought compromise would be just the first step in a broader, concerted fight to rein in the costs of a college education.
Encircled by lawmakers from both parties in the Oval Office, Obama praised Democrats and Republicans alike for agreeing – finally – on what he called a sensible, reasonable approach to student loans even as he cautioned that “our job is not done.”
“The cost of college remains extraordinarily high. It’s out of reach for a lot of folks,” Obama said, calling it a burden as well on families who have to balance other priorities, like buying a home, with helping fund their children’s educations. “We’ve got to do something about it.”
To that end, Obama said he’d be looking to the same coalition of political forces that came together on student loans as he pursues further steps.
President Barack Obama gets down on his hands and knees as he looks at the inner workings of a robot that plays soccer, built by a team from Blue Bell, Pa., as he tours science projects on display in the State Dining Room of the White House. President Obama hosted the White House Science Fair for winners of a broad range of science, technology, engineering and math (STEM) competitions. October 18, 2010. (Official White House Photo by Pete Souza)
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