[Baldwin:] The president is out logging some serious miles today, and not just for nothing, really, but in very large part to try to energize part of his, talking right now about young people in America. First stop, North Carolina. The president touched down very late this morning in Raleigh-Durham, before the day is over, though, he is hopping from North Carolina to Colorado, and then tomorrow it is on to Iowa. Coincidence? Probably not, as in, he did carry all three states in 2008, yet all three are in play here in 2012 Another non-coincidence I just want to point out, he is talking all day about student loans. Hopes to make this an issue to him or his opponents, such as unnamed Republican Congresswoman he quoted during his speech.
[Barack Obama, President Of The Unites States:] She said, she had very little tolerance for people who tell me they graduate with debt, because there's no reason for that. I'm just quoting here. I'm just quoting. She said students who wrack up student loan debt are just sitting on their butts having opportunity dumped in your lap.
[Baldwin:] Want to go to chief White House correspondent Jessica Yellin, live at my alma mater, UNC Chapel Hill. Jessica, if they're not treating you well, let me know. I do want to begin quickly here. We're hearing from the president, at issue specifically is the Stafford loans. What's the issue?
[Jessica Yellin, Cnn Chief White House Correspondent:] The issue, Brooke, is that come July first, these federally subsidized loans will double. The interest rates on them will double from current rate of 3.4 percent, 7 million Americans paying about that rate right now. And it will jump to 6.8 percent on July first unless Congress decides to freeze the current rate. So, why would anybody resist doing that? Well, there's a lot of concern about the cost to the federal government. The congressional budget office estimates it will cost the federal government $6 billion for one year to extend that rate at the current rate at the low rate. So on the one hand, a lot of people want to keep the interest rate low, on the other hand, a lot of other people are asking how are you going to pay for it? What is the offset? That's the fight that is being set tup now and that Congress says it's going to take on in the coming weeks and months. Brooke?
[Baldwin:] As we mentioned, North Carolina, Colorado, talking student loans. We talked so much about the importance of women who vote. But what about voters under the age of 30? I know it was an important base for him in 2008. How important will they be for him this November?
[Yellin:] Crucial. I'll tell you why. The youth vote was 66 percent, that's what president Obama won in 2008, 66 percent. It was about a fifth of the electorate. Sounds like important, but maybe not crucial. Here's where it's crucial. In this state, North Carolina, the president won just by one percent. He eked out a victory. How did he do that? He won young voters, for example by 74 percent. He just swept young voters. And he won just by one percent. It's hard to imagine he would have been able to get that 1 percent victory had he not swept among young voters. So this is the kind of victory he's going to have to look for in states like this if he's going to be successful again in 2012. He wants to drum up enthusiasm among young voters. And Brooke, before we go, I'm told you'll know what to do. Tar
[Baldwin:] Heel.
[Yellin:] They said you wouldn't keep me hanging.
[Baldwin:] I've got you, I've got your back, Jessica Yellin. I know that chant. Thank you so much. We appreciate it. And off to Colorado the president goes. Speaking of students, one more thing from the speech that the president made. Actually not the speech itself, but the student who introduced him. Take a listen.
[Unidentified Female:] If interest rates were to double, that would mean that many students who would love to and deserve to take part in extracurricular activities and be a part of the university would have to work or live at home instead of having that college experience because they would be more focused on just being able to pay for their college education.
[Baldwin:] There's the president come into your picture. Wait for it. There it is. A nice hug to Caroline, a senior. Dominique Garland, and she is also live in Chapel Hill. Dominque, so nice to meet you. Talking to a fellow Tar Heel. I'm so proud of you, congrats on almost graduating. And here you are introducing the President of the United States. Were you nervous? How did it go?
[Dominique Garland, Unc Student:] Yes. You know, before I actually got into the corridor, I was really nervous. I was standing with the person who sung the national anthem. And once we actually got in there and the president came out, he was so warm and welcoming that all of my jitters went away and I was able to perform the speech.
[Baldwin:] And so you spoke, and then we saw the quick hug. What did he whisper in your ear? Good job?
[Garland:] Yes, exactly. He said good job. You did wonderful, we can tell you'll be a great teacher. And he went on to announce that. Wonderful.
[Baldwin:] That's a day you're going to remember forever. Let's talk about one of the reasons why, you know, you were probably chosen to be introducing the president as your story is sort of germane to what he's talking about today. So you have congress, ultimately they're the ones to decide whether they'll pass the extension of the 2007 College Cost Reduction and Access Act, or else the interest rates will double. Your personal story, if they don't do that and the rates double, how does that affect you and also your little sister?
[Garland:] Yes. It will affect me drastically. I've had college loans here at UNC Chapel Hill. And although they have definitely accumulated, I feel the effect, coming from Chapel Hill, will not be as bad. However, when I get to Columbia for grad school, I definitely still have student loans. Paying off those will be a task, especially on a teacher's salary. My parents are not able to support me and my finances. As far as my sister is concerned, I also help sometimes with her finances. For her to come in as a first-year, the fist thing on her mind being, will she be able to pay off her debts is sad to me personally because I had such a wonderful experience here, which I'm sure you did. And it would be sad to see her have to work instead.
[Baldwin:] And we should point out, look, Republicans are also saying, GOP rival Mitt Romney saying yes, we agree, you know, these interest rates shouldn't double. Is there anything through that speech, I was listening through the whole thing out of the corner of my eye, and there were a couple of massive applauses. Was there any one particular thing that president Obama said that really struck a chord with you?
[Garland:] Well, you know, I've always seen how my parents and my grandparents have fought to make sure that I was able to get the education that I'm getting right now and to have the opportunities that I'm having right now. When he pointed out the struggle and the fact that our parents did struggle and their sole purpose of struggling was to get us here and now we're having trouble being able to maintain this, that's something that definitely stuck to me. So yes.
[Baldwin:] Good luck on May 13. That's the big day, right? The Carolina blue cap and gown. Mine is still hanging up in my house. And best to you. Best to you at Columbia and, of course, to your young sister. Go heels.
[Garland:] Thank you, same to you.
[Baldwin:] And joining me next hour, we're going to be speaking with education secretary Arnie Duncan. I'm going to ask him about the potential fight in Congress over this issue this summer. Secretary of Education there next hour.