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CHAPEL HILL, N.C. -- Kicking off a two-day, swing-state tour focused on keeping student-loan rates from increasing, President Obama told an arena full of college students that he can relate to their struggles paying off loans because he has had his own tuition woes.
“I just want everybody to understand: I didn’t just read about this,” Obama said as the audience at the University of North Carolina crescendo from gradual applause to a full cheer. “I didn’t just get some talking points about this."
He continued, referring to himself and wife Michelle, “We didn’t come from wealthy families. We paid more in student loans than we paid on the mortgage when we finally did buy a condo.”
He noted the length it took for him to pay off his student loans, even though he now holds the nation’s highest office.
“We finished paying our student loans. And check this out -- I’m the President of the Untied States -- we only finished paying off our student loans about eight years ago.”
Obama criticized Republicans, who he said pay “lip service” to the concepts of student aid, a day after presumptive Republican nominee Mitt Romney said he “fully support[s] the effort to extend the low interest rate on student loans.”
“You’ll hear people say, yeah, education, it’s important,” he said. “That requires not just words but deeds.”
Romney spokesman Ryan Williams, who attended the event at UNC, responded to those remarks saying, “Governor Romney has made his position on this issue clear. He feels that we need to help college students during these tough economic times when they’re unable to find a job under this president.”
The House Republican budget, trumpeted by Wisconsin Republican Congressman Paul Ryan, would not increase funding for Pell Grants, and keep funding for them at current levels for the 10 years of the budget, Politifact notes. Romney has embraced the Ryan budget, saying the two are "on the same page."
The president was speaking to students and recent graduates here ostensibly to gin up awareness that student loans will double on July 1, from 3.4 percent to 6.8 percent, unless Congress votes to extend the College Cost Reduction and Access Act, signed into law in September 2007.
As his administration has done frequently when it wants to generate buzz over a certain policy initiative, the president urged his audience to get involved through -- in addition to phone calls and email -- social media and in particular, Twitter.
“Call your member of Congress,” Obama urged. “Email them, write on their Facebook page, Tweet them… we have a hashtag.”
He introduced the hashtag as #dontdoublemyrate, and seemed to feed off the enthusiasm of the rally-like atmosphere by telling the audience to repeat the phrase after him.
“Everybody say it so you can remember it!” he urged.
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let’s be clear, this country is in disarray, first off financially we are out of control and I mean we !!! Do in large part to gov't intrusion into the routine functioning of the private sector. I might add a system that has created a wonderful lifestyle attainable by all Americans that have the intestinal fortitude to just reach out and make it their own. Conversely they work for us we designated them to represent us. We are held accountable for what they do. i.e. Nearly 16 trillion dollars of indebtedness. If it is your goal to reverse this trend of economic wreck less abandon then you must be mindfully aware of who is delegated with the responsibility of responding to the needs of our nation.
Getting America to come around and realize we have a debt/deficit problem is urgently needed. Also some people blame the few Tea party people in congress for everything, when many more dinos and rinos aka. (Washington Establishment types) are there thwarting any effort to improve fiscal responsibility .
Can Anyone say Balanced Budget Amendment???
Government waste and plunder and immoral spending is so prolific that we will most likely, short of some genuine leadership, never. EVER.. again see the light of day. And yet somehow... our government is telling us .....that they can spend money on literally ANY thing they want... literally any vote-buying scheme they can think of.. no matter how much or how little revenue they have coming in.... no matter how economically ridiculous it is.. and the top 10% of wage earners who are paying over 60% of all taxes collected (IRS Stats, not mine) are just expected to pony up and pay for their completely irresponsible madness?
We have an opportunity in November to change this course we are on. At this point we still have a chance to reverse the damage and maintain control of our destiny. The coming economic boom from the production of domestic energy will help to create a better future for prosperity in this country. If the private sector is allowed to flourish unfettered by government intrusion there will be millions of equitable employment positions created and available. Our country is in dire need of full employment to save our society.
So charge & gas up your VOLT get ready to work...
We will all go back to work in 2013 to pay off our debt and hopefully live happily ever after. It wont be the socialist utopia that BHO wanted to sucker his Kool-Aid drinkers with "Sorry crybabies". It will feel good to have the free market up and running on the Right ;-) track. Instead of, being left Leering into reckless abandon :(. Won’t you feel better relinquishing that ring from your nose and allowing your very own natural abilities to flourish? not unlike a vast majority of people on this planet are strongly in want & need of. Americans are resilient and innovative when left to their own means and allowed to chase Life. Liberty & pursue the Good that life has to offer. We hold these truths to be self-identifying when left to perpetuate naturally and unfettered. A place where Exceptionalisim is celebrated and not vehemently denied.
VOTE Nobama
obama claims that he just finished paying for his college loans.
what a horrible joke.
we have no way to verify this.
the man is a millionaire and has been for a while. if he just finished paying off his college loans he was milking the system.
i think that this is just another lie by obama.
you guys do realize that it was while the house was being led by democrats that the bill to increase interest on college loans was introduced by democrats and passed.
Behind Obama’s Definition of Wealth and Paying Off Student Loans
http://abcnews.go.com/blogs/politics/2012/04/behind-obamas-definition-of-wealth-and-paying-off-student-loans-2/
source: ABC NEWS
President Obama told students at the University of North Carolina Tuesday that he knows what it is like to struggle with student loan debt because he and his wife didn’t pay off their student loans until eight years ago.
That may be true, but a quick look at the Obamas’ tax returns shows they were making enough to be considered “wealthy” by the president’s own definition in the years before his loans were paid off.
vote for an American President in 2012!!!!!
ANYBODY BUT OBAMA 2012!!!!!!!!!!!
AMERICA IS DEPENDING ON US.
The student loan stuff that's the focal point of Obama's speeches that he's making to youth wherever he goes is legislation the Democrats wrote but he won't tell you that! He talked about it a lot yesterday. The interest rate increase is coming up for a vote on July 1st because the Democrat-controlled Congress in 2007 wanted it that way. Obama is running around scaring these students who don't know the facts or the truth behind this, that if something isn't done by the Congress, by July 1st, their student loan interest rate will double.
The Democrats controlled both houses of Congress in 2007. They had just won the election. The House, they took it back in 2006. Pelosi's running the House; Democrats are running the Senate. So 2007 they passed legislation that would cut the student loan interest rate in half and then reinstituted it July 1st this year, on purpose. They wanted the college student loan interest rate to double in an election year, in the summer right before the conventions. They were rolling the dice.
So that it would appear to be doubling to students this year, the Democrats did all of this. They did it to have a campaign issue in case they needed it in 2012. July 1st. So five years ago they planned this. Obama was a Senator in 2007, and he didn't even vote on this bill. Twice! There were two votes on raising the college loan interest rate back to what it will be -- doubling it, in effect -- on July 1st, 2012. He didn't even vote "present." He was too busy campaigning. That's how vitally important the issue of student loan interest rates was to him back then.