President Barack Obama: I'm President Barack Obama, and I too want to slow jam the news.
Jimmy Fallon: Hit me presidential style.
Obama: On July 1st of this year, the interest rates on Stafford student loans, the same loans that many of you used to help pay for college, are set to double. That means some hardworking students will be paying about $1,000 extra just to get their education. So I've called on Congress to prevent this from happening. What we’ve said is simple: now is not the time to make school more expensive for our young people.
Jimmy Fallon: Oh, yeah! You should listen to the President, or as I like to call him, the Preezy of the United Steezy. Things are heating up inside Congress's chambers, behind all those closed doors. So the President made a few discrete calls across the aisle. He said, “Hey, let's get together on this one. Without an affordable Stafford loan, where can a student turn? The Pell grant is a beautiful thing, but with college getting more expensive, is it enough to satisfy your collegiate needs?” Ah Pell no.
Trotter: Ah, Pell no. If Congress doesn’t act it’s the students who pay, the Right and Left should join on this like Kim and Kanye.
Obama: Now, there's some in Congress who disagree. They say keeping the interest rate low isn't the way to help our students. They say we should be doing everything we can to pay down the national debt - well, so long as it doesn't include taxing billionaires. But their position is that students just have to make this rate increase work. Frankly, I don't buy it.
Jimmy Fallon: Mmmm, mmmm, mmmm. The Barack Ness monster ain't buying it. We all know our legislative bodies in the House tossing and turning late into the night, but still Republicans disagree, and can even filibuster, but if they do, the President says they're going to feel it, buster.
Trotter: The GOP is steady saying, “No, no, no,” They should find something new to do like Tim Tebow.
Obama: The reason it’s so important to keep down costs is so we keep college affordable.
Jimmy Fallon: And the President knows his stuff, y'all. That's why they call him POTUS, which means person on top -- what is it?
Obama: Jimmy, POTUS stands for President of the United States.
Trotter: He's the POTUS with the Mostest.
Obama: Let’s keep the rates down on college loans.
Jimmy Fallon: Stop. The loan you save may be your own.
Trotter: Yeah, let's get it together and make our lives better, cause a college degree is more than a few letters. If college costs rise we’ll have financial blues.
Jimmy Fallon: And that is how we slow jam the news.
Obama: Oh, yeah.
Jimmy Fallon: Give it up for President Barack Obama!
President Barack Obama appeared on Late Night With Jimmy Fallon on April 24th, 2012 to "slow jam the news" and inform the public about Stafford student loans. Trotter and The Roots get in on the action, as well.