Along with renting that first apartment, buying that first car, and maxing out that first credit card, student loans have become part of the costs of adulthood. "Student debt has grown exponentially in recent years, in tandem with college costs that routinely outpace inflation," the New York Times reported. "The average college student now graduates with nearly $18,000 in debt."

Nancy Pelosi's House Democrats rushed to the rescue Wednesday, voting to cut interest rates on need-based federal student loans in half (from 6.8 to 3.4 percent) over five years. Estimated cost to the government: $6 billion. Who'll pick up the tab? Big business. "To avoid increasing the deficit, the bill's cost would be offset by reducing the yield on college loans the government guarantees to lenders and cutting the guaranteed return banks get when students default," MSNBC reported. "Banks also would have to pay more in fees."

This seems like the first salvo in a long war, though. "The Bush administration and some top Republican lawmakers oppose it," MSNBC continued. "Sen. Edward Kennedy, D-Mass., head of the Senate's education committee, plans to pursue broader education legislation that addresses the proposed interest rate cut."

You've got to love the Democrats' thinking, though. Young voters are a hit with the Dems (John Kerry did well among this age group in 2004), and a drop in student-loan interest rates might be met with an increase in Gen-X and Gen-Y and other young votes on Election Day.