Posted: Jul 23, 2013 6:42 PM by Alex Mallin, KOMU 8 News Reporter
Updated: Jul 23, 2013 10:27 PM
COLUMBIA - President Barack Obama hasn't made a stop in Missouri since May of 2012, but he will speak on Wednesday in Warrensburg regarding the economy and the cost of higher education.
The White House sent out a press release detailing Obama's work toward passing a bipartisan compromise to keep student interest rates low.
On July 1 Stafford interest rates doubled to 6.8%, but last week the Senate hammered out an agreement that would cut both subsidized and unsubsidized rates down to 3.86%.
It's the same plan the President is promoting, that would adjust future rates to market conditions and put it more in sync with the government's cost of borrowing, with a cap on how high rates can rise.
Mid-Missourians have mixed reviews of President Obama's performance in the student loan rate field.
University of Missouri graduate student John Benjamin said President Obama's visit is necessary to highlight who is to blame for problems with student loan rates.
"I would say it's the Republican Congress that's largely to blame," said Benjamin. "I think that getting out the message that it's hurting us is at least going to mobilize the students and hopefully other people will change their mind about voting for people raising rates."
University of Missouri Junior Doona Wilson said Obama has been all bark and no bite on his promises to keep student loan rates low.
"In the last election he talked about education and how it's important and how he wants everyone to get an education," Wilson said. "Well if education is such a big deal then show us it's a big deal. Help us get an education at an affordable price."
President Obama is speaking at the University of Central Missouri Wednesday at 4:05 p.m. Log on to KOMU.com to watch the live stream of his speech.