( CNN ) -- As the new school year approaches , President Obama has been traveling around talking about the high cost of education . In a speech given on August 22 in Syracuse , New York , he laid out a plan to rein in the costs , describing affordable and accessible education as `` Washington 's highest priority . '' But the education system is n't broken -- it 's `` fixed . '' If we 're serious about tackling the issue of affordable education and student debt , we need to strike at the root of the problem -- the influence of money in politics . Private corporations like Sallie Mae -- which own 15 % or $ 162.5 billion dollars of total student debt -- rake in private-island-purchasing profits while students suffer . It 's impossible to be on a college campus -- especially a state university -- and not notice the impact of the student debt crisis . The debt weighs on our students . It is as if you could see it in their slumping postures and staggering gaits as they haul boulders and lug chains from class to class . Approximately 37 million students currently hold debt , averaging $ 27,500 per person and totaling over $ 1.1 trillion . Saddled with debt , students are giving up on the idea of the American Dream . You know , like the idea that you and your buddy can open up a small ice cream shop in an old gas station and grow it into a multimillion dollar business that cares for the community and delights the world . The truth is , if Jerry and I had had $ 27,000 of debt in 1978 , we would never have taken the risk of opening our first scoop shop . More likely than not , we would have been underemployed and buried in back payments . Obama gets it . In Syracuse , he said : `` The idea used to be that here in America anybody could make it . ... And , unfortunately , what 's happened is it 's gotten tougher for a lot of folks . So we 've got to reverse these trends . '' But while Obama talks about creating policies that will benefit the middle class , corporations like Sallie Mae are dedicated to preserving the status quo by showering Capitol Hill with cash . According to the Center for Responsive Politics , Sallie Mae has donated over $ 1.26 million to federal candidates and parties in the last four election cycles and bankrolled $ 1.93 million dollars lobbying Congress in the first half 2013 . During that time , Congress crafted a student loan bill that tied interest rates to financial markets , which President Obama signed it into law in August . While in the short term , the bill prevented interest rates from doubling , students are more vulnerable in face of an adjustable interest rate that could top 8.5 % . Corporations like Sallie Mae borrow at dirt cheap interest rates ( subsidized between .23 % and .34 % ) from the Federal Home Loan banks . In contrast , undergraduate students borrow at an adjustable 3.85 % and graduate students borrow at an adjustable 5.4 % . That 's a sweetheart deal for Sallie Mae which raked in $ 2.5 billion in interest payments from student loans last year , but a terrible deal for students . In a letter to Sallie Mae 's CEO , Sen. Elizabeth Warren wrote : `` While Sallie Mae is finding unique ways to profit from government programs , its borrowers are paying interest rates that are far in excess of the low cost of funds supported by the U.S . taxpayers . '' It 's time to dam the deluge of cash and corporate influence in Washington once and for all . Whether you 're a college student , a debt holder , a parent or simply someone concerned about the future of our country , you can help . There is a stampede rumbling across the country to amend the Constitution to declare : 1 ) Money is not free speech ; and 2 ) Corporation are not people . At StampStampede.org , we 're helping to build that movement by legally stamping messages like `` Not to be Used for Bribing Politicians '' on our nation 's currency to spread the word and get money out of politics . Every bill is seen by 875 people , so the more stamped bills that enter circulation , the more movement will grow . And it 's growing . Thanks to the leadership by groups like People for the American Way , Move to Amend , Common Cause , Free Speech for People and Public Citizen , 16 states have passed referendums calling on Congress to take action and over 150 members of Congress support the amendment strategy . As the new school semester begins , pick up a stamp and help take back our campus and take back Congress . This is our future and our fight to win . The opinions expressed in this commentary are solely those of Ben Cohen and Edward Erikson .
Ben Cohen , Edward Erikson : Are we serious about solving student debt problems ? Cohen , Erikson : The root of the problem is influence of money in politics . Students suffer but Sallie Mae profits while owning 80 % of student debt , they suffer . Cohen , Edward : Organizations like Sallie Mae lobby Congress ; we need to change that .