College Grads Need Jobs, Not a Lower Loan Rate

President Barack Obama has been on a tour of college campuses touting proposals to lower student loan repayments for college graduates. He hopes to rekindle the enthusiasm of young voters, who in 2008 favored him over Sen. John McCain by more than two-to-one.

Ironically, these same young Americans may suffer most from the administration’s inability to get the economy back on its feet. College graduates who enter the workforce during an economic downturn accept lower wages in lower-quality jobs, and the effects on their income and promotions can last for well over a decade.

Read more at the Wall Street Journal.