President Obama, Student Loans, and Women’s Issues

That's me, right behind the President. Told you it was insane.

Screen cap from whitehouse.gov/live.

Yesterday, I got to meet President Obama. It was insane.

I attended a lobby day a few weeks ago to encourage Congress to find a solution to prevent the doubling of federal student loan interest rates, set to kick in July 1.

I showed up to the event, organized by Campus Progress, not knowing much about the debate except that the interest increase from 3.4% to 6.8% would mean $2,400 added on to my loan bill. Since then, I have kept working on this issue and tried to stay on top of it in the media. Then, three days ago, as the result of continued involvement with Campus Progress, I received a message in my inbox I never expected: I was invited to attend an event at the White House on student loans with President Obama.

I came to DC this summer to intern for NWLC and learn more about policies that impact women and families. Yesterday, while staring at the back of the Presidents head as he gave his speech about the importance of keeping student loan interest rates down, in a semi-existential moment, everything connected—and I realized that I was learning about a women’s issue at that very moment.

Increasing the interest rate on student debt is an issue for all students, but is a particular burden for women students, who now make up the majority of undergraduates. Upon leaving school, women make less money starting year one than their male peers with the same degree and experience. Even after establishing careers, as women spend more time in the workforce, the wage gap widens and the glass ceiling keeps women from reaching upper leadership positions.

Clearly, women are in an especially challenging financial position in the first place, let alone with the added cost of increased student debt interest.

But keeping student interest rates down can’t come at the cost of other crucial programs that women rely on. For example, in his statement, President Obama made the important point that women’s preventative health measures, among other services important to students, must not be cut to prevent the rate increase.

I now see that student debt is closely tied to my focus areas at NWLC of education and employment, and family economic security. The current uncertain economy and remaining injustice in employment for women makes absorbing increased loan rates impossible for many young women.

Young women must not be saddled with additional debt to pay for an education that will not only better their own livelihood, but will allow them to further contribute to society and our economy. Now is not the time to punish women students with increased financial burdens. Financial security is closely tied to women’s lives and the issues important to them. As a woman student, I know that I cannot afford to pay more in a world where I am already valued less.