How To Build a Tuition Trap

How To Build a Tuition Trap

This week, President Barack Obama has been warning students that without his intervention, interest rates for a federal student loan program will double to 6.8 percent July 1.

In the process, he's been misquoting a Republican congresswoman. On Tuesday, he told students at the University of North Carolina at Chapel Hill that she has "very little tolerance for people who (say) they graduate with debt, because there's no reason for that."

And: "She said students who rack up student loan debt are just sitting on their butts, having opportunity 'dumped in your lap.'"

The audience booed.

The congresswoman in question is Rep. Virginia Foxx, R-N.C.,...