As President Obama mentioned in his State of the Union address on Tuesday night, the interest rates on student loans are set to double this summer unless Congress takes action to keep rates at their current level.

This means, for example, that the Stafford loan you signed for last year was at 3.4%; the one you sign for this year will be at 6.8%. Let's imagine that last year (2011-2012), you took out a $10,000 loan at 3.4%. And this year (2012-2103), you take out another loan -- but this time at 6.8%. Here's the difference:

• $10,000, repaid over 10 years, at 3.4% interest = $11,810 total loan amount = $1,810 in interest
• $10,000, repaid over 10 years, at 6.8% interest = $13,809 total loan amount = $3,809 in interest

So ... what are your options if the interest rates go back up? Well, first and foremost, make sure you know the 5 basics of your financial aid package. After that, make sure you're informed about what exactly you're signing when it comes to your award letter. And lastly, make sure you know the email address of your local Congressperson so you can contact them about how important it is to keep interest rates where they are!

Last night was the State of the Union address, as I'm sure you know -- and there are a few key, higher-education-related items you should know about (and not just so you can talk about them in class today).

While education reform wasn't a major factor in the address, it did make an appearance. Perhaps the most important part (relating to college students) was the following:

When kids do graduate, the most daunting challenge can be the cost of college. At a time when Americans owe more in tuition debt than credit card debt, this Congress needs to stop the interest rates on student loans from doubling in July. Extend the tuition tax credit we started that saves middle-class families thousands of dollars. And give more young people the chance to earn their way through college by doubling the number of work-study jobs in the next five years.

Of course, it's not enough for us to increase student aid. We can't just keep subsidizing skyrocketing tuition; we'll run out of money. States also need to do their part, by making higher education a higher priority in their budgets. And colleges and universities have to do their part by working to keep costs down. Recently, I spoke with a group of college presidents who've done just that. Some schools re-design courses to help students finish more quickly. Some use better technology. The point is, it's possible. So let me put colleges and universities on notice: If you can't stop tuition from going up, the funding you get from taxpayers will go down. Higher education can't be a luxury-- it's an economic imperative that every family in America should be able to afford.

Let's also remember that hundreds of thousands of talented, hardworking students in this country face another challenge: The fact that they aren't yet American citizens. Many were brought here as small children, are American through and through, yet they live every day with the threat of deportation. Others came more recently, to study business and science and engineering, but as soon as they get their degree, we send them home to invent new products and create new jobs somewhere else.

That doesn't make sense.

You may have your own opinions on issues like student loan regulations and the cost of college, but hearing the president utter phrases like "So let me put colleges and universities on notice: If you can't stop tuition from going up, the funding you get from taxpayers will go down" should grab the attention of every college student. What will that mean for what you're paying for school? What will it mean for your institution? Time will tell, but it is an interesting and bold approach -- and one you should know about, class discussion or not.

(Need or want to see more? An official transcript and video of the speech is available from The White House.)

As the spring semester gets into full swing, lots of seniors begin thinking about life after college. And given the economy and high rate of unemployment for young adults, many are focused exclusively on one major thing: getting a job.

An interesting article from Forbes discusses the "top 10 employers of Gen Y workers." It not only lists the top 10 companies but also discusses the employment habits (e.g., staying at jobs for shorter periods of time than their predecessors) of generation Y. It's not too long of an article but a worthwhile read. If you're planning on entering the job market after graduation, take a few minutes to see what some of your options are. At least you'll know where to start looking!

(Each Monday during the academic year, I feature a "Campus Highlight": a unique, interesting, and noteworthy student organization, program, or initiative that demonstrates the amazing things college students do each and every day across the country.)

Over the weekend, the national media picked up a story that Penn State football coach Joe Paterno had passed away. While Coach Paterno did pass away on Sunday, false reports of his death were coming in on Saturday. Most of those reports, it turns out, came from the original reporting by Onward State, which describes itself as "an online news organization serving Penn State students, faculty, staff, alumni, and the State College community."

Prior to the weekend, Onward State was led by senior Devon Edwards. Mr. Edwards resigned after the reporting was discovered to be in error. The way in which Mr. Edwards's resigned has been hailed as everything from a model of how to issue a sincere apology to a great lesson in PR.

I'm choosing Mr. Edwards as this week's Campus Highlight not because of the amazing PR skills he has (according to the media, at least), but because he showed what true learning in a college environment is all about. He modeled the great things that so many college students do each and every day, most often without national recognition: He made a mistake. He realized it. He took action to learn how to correct it and inform himself. He changed his position based on new information. And he publicly came forward in a dignified, respectful way to help others understand, too. Way to go, Mr. Edwards. I'm sure you've had a rough weekend, but I, at least, appreciate you turning a negative experience into a positive one -- and for showing that college students really do know more and act in more admirable ways than people give them credit for.