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Obama takes on college costs, eyes young voters

CHAPEL HILL, N.C. — President Barack Obama tells college students 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.

He says: “When we married, we got poor together.”

Obama was speaking 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 is pressing 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.

The emphasis on his personal experience set up a contrast with his likely Republican presidential opponent, Mitt Romney, whose father was a wealthy auto executive.

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