UPDATE: Obama pushes low rate student loans - WKOW 27: Madison, WI Breaking News, Weather and Sports

UPDATE: Obama pushes low rate student loans

Photo credit: The White House Photo credit: The White House

CHAPEL HILL, N.C. (WKOW) -- President Barack Obama told college students Tuesday that he and his wife, Michelle, know what it's like to owe student loans because the two of them didn't come from wealthy families.

Obama spoke at the University of North Carolina at Chapel Hill, the first of three college campuses he was visiting on a two-day tour promoting low rates for federal student loan rates.

The president wants Congress to extend a 2007 law that cut loan rates to 3.4 percent. If the law is allowed to expire on July 1, it would double rates to 6.8 percent.

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CHAPEL HILL, N.C. (WKOW) -- President Barack Obama is starting a three-state visit to college campuses Tuesday, pushing his plan aimed at keeping the cost of college loans from soaring for millions of students.

At the University of North Carolina in Chapel Hill, he'll push for a plan to freeze current interest rates on a popular federal loan for poor and middle-class students.

Watch President Obama's speech in Chapel Hill Tuesday at 12:15 p.m. on www.wkow.com/live.

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