Many young people who have graduated recently into an ailing economy have found the weight of their student loans to be crippling. According to recent data from the 2010-11 school year, about 7.5 million undergraduates use Stafford loans to pay for college.
President Obama recently called on Congress to address the issue of rising student loan interest rates. On Friday, the U.S. House approved a $5.9 billion bill to maintain low interest rates for Stafford student loans, USA Today reports. However, the means by which the bill would pay for the extension have proved controversial.