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Obama Addresses College Debt Problem

Posted by on Apr. 25, 2012 at 11:25 AM
  • 7 Replies

 

Apr 24, 2012 11:30pm

Obama: College Debt ‘Not Something I Read About in Briefing Book'

   BOULDER, Colo. - President Obama tonight cast himself as a champion of an affordable college education and drew a veiled contrast with Republican rival Mitt Romney in a speech before an electrified crowd at the University of Colorado.

Calling a college education the "best tool you have to achieve the American promise," Obama made the case to the crowd of 10,800 students that he best understands the challenges of earning a degree.

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

"But it wasn't just that we worked hard, it was that somebody made an investment in us. That's what America did for us," he said.

Though he never mentioned presumptive GOP nominee Mitt Romney by name, Obama was keen to underscore that he did not come from a prominent family with a significant wealth.

"Michelle and I - we know about this first-hand," Obama said of the struggle to manage student debt.  "This is not something I read about in a briefing book. This is not something abstract to us. We've been in your shoes."

The president is lobbying Congress to extend current interest rates on federal Stafford loans, which are set to double, by law, on July 1st. More than 7 million college students would face an average $1,000 hike in their payments per year if the extension is not passed, the administration says.

"They have to prevent the interest rates on student loans from shooting up and shaking you down," Obama said, drawing applause from the supportive crowd.

"Stopping this should be a no brainer," he added. "We need to send a message to folks who don't seem to get this. That setting your sights lower - that's not an education plan. You're on your own - that's not an economic plan."

The rally-style speech inside the school's Coors Events Center was the second stop on Obama's three-state battleground tour aimed at appealing to the student vote. He spoke at the University of North Carolina-Chapel Hill earlier today and was to head to the University of Iowa on Wednesday.

While polls show that younger voters still overwhelmingly support the president - by a 60 percent to 40 percent margin over Mitt Romney in the latest ABC News/Washington Post poll - as a group they are much less enthusiastic about his candidacy and engaged in the campaign than they were four years ago.

Interviews with a cross-section of more than a dozen students on the Boulder campus seemed to illustrate that dynamic and the challenge Obama faces in turning them out in force come November.

"I think he's done a fine job; being president is hard," said Kensey Ayde, a 21-year-old junior from Boulder. Asked whether she'll volunteer for or donate to Obama's campaign, Ayde said, "I probably won't. I just don't have the money for it as a student."

Sam Posnick, 21, who will graduate from the university next month, called Obama a "good guy" but added unprompted that "politics are a little outside my scope of interest."

"I think right now there's not as much hype built around him," MBA candidate Lindsey Dunn, 29, said of the president. "People are not as excited about the campaign because it's a less intense battle."

Ryan Hanson, a 20-year-old  self-described "left-leaning" engineering student from Aurora, Colo., said he's giving the choice in his first presidential vote serious thought.

"Nobody's standing out to me," Hanson said. "I say I'd lean more to Obama, definitely, but I'm not 100 percent behind Obama."

The Romney campaign argues that with a 13.2 percent unemployment rate among 20-24-year-olds, the president's record is competing with his rhetoric.

"This is a time when young people are questioning the support they gave to President Obama three and a half years ago," Romney said Monday. "The pathway that he pursued is not one which has worked."

The presumptive GOP nominee has joined Obama in calling for an extension of current, lower rates on some federal student loans, saying a "temporary" extension is appropriate because of "extraordinarily poor conditions in the job market."

Some Republicans in Congress have expressed openness to extending current, lower student loan rates, provided the $6 billion price tag will be offset with spending cuts.


by on Apr. 25, 2012 at 11:25 AM
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Replies (1-7):
rocketracer
by Gold Member on Apr. 25, 2012 at 11:37 AM
1 mom liked this

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

ETA:  How can he defend setting up college funds for his daughters?

 

LIMom1105
by on Apr. 25, 2012 at 11:42 AM


Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

This is true though, he did not come from a family of wealth, neither did his wife. So on the subject of student loans, those who had them themselves can certainly relate better than those who did not.

I think this is a smart move actually, to keep student loan rates stable. So many kids aren't finding jobs, or jobs that pay well.  If loan interest rates are lower they are more likely to pay them back.

jlo1313
by Bronze Member on Apr. 25, 2012 at 11:42 AM

 When one has no real record that has done anything productive, class warfare is the place to start.

I am not endorsing any candidate as of yet, but it has become crystal clear to me that I held some prejuidices against Romney, so I am doing my best to start to see what he really accomplished in business before I all out make a decision.  I know who I am not voting for this year, simply because I fear that 5 more years would destroy the America I grew up in. 

Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

 


rocketracer
by Gold Member on Apr. 25, 2012 at 11:44 AM

 

Quoting LIMom1105:

 

Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

This is true though, he did not come from a family of wealth, neither did his wife. So on the subject of student loans, those who had them themselves can certainly relate better than those who did not.

I think this is a smart move actually, to keep student loan rates stable. So many kids aren't finding jobs, or jobs that pay well.  If loan interest rates are lower they are more likely to pay them back.

Romney also supports keeping student loan rates low.

rocketracer
by Gold Member on Apr. 25, 2012 at 11:51 AM
2 moms liked this

Here is something I wrote in another post.  I think it also pertains to the thread:

George Romney worked hard for his family.  Most parents want to work hard so that their kids have a better life.    George Romeny did the responsible thing.  He worked hard to give his kids a better life.  Yes, Mitt was given advantages that others didn't have, but he didn't squander them either.  Mitt Romney worked hard to give his family a better life.  There is nothing wrong with that philosophy. 

Barack Obama's father abandoned the family to leave Barack to be raised by a single mother, who then abandoned him to be raised by her parents.  Perhaps, she did so to give him a better life.  If that is the case, then she did the responsible thing.  

Barack has obtained the pinnacle of a better life for his family. He has, indeed, given his daughters a "leg up" in society.  Twenty years for now what will he say when someone accusses his daughters of being raised with  "silver spoons in their mouths".    If George Romney gave his children silver spoons, then so did Barack Obama and Michele Obama. 

Barack Obama is spewing class warfare rhethoric when he says things like "not raised with a silver spoon in his mouth" and "Michele didn't have the luxury to stay home with their daughters".    Did you know that "in 2005, when Obama began serving in the U.S. Senate (and his daughters turned 4 and 7), he and his wife were earning a combined annual income of $479,062. Barack Obama was paid a salary of $162,100 by the U.S. taxpayers, and Michelle Obama was paid $316,962 to handle community affairs for the University of Chicago Medical Center."   So, yes indeed he is spewing class warfare.


 

Quoting jlo1313:

 When one has no real record that has done anything productive, class warfare is the place to start.

I am not endorsing any candidate as of yet, but it has become crystal clear to me that I held some prejuidices against Romney, so I am doing my best to start to see what he really accomplished in business before I all out make a decision.  I know who I am not voting for this year, simply because I fear that 5 more years would destroy the America I grew up in. 

Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

 


imamomzilla
by on Apr. 25, 2012 at 11:57 AM
1 mom liked this

 Wasn't his granny (the woman who raised him) the VP at a bank?

Didn't he go to Private School?

What about Occidental...?

What about trips to Indonesia and Africa?

Wasn't his step dad a wealthy business man?

I'd say he had it pretty cushy....

Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

ETA:  How can he defend setting up college funds for his daughters?

 

 

LIMom1105
by on Apr. 25, 2012 at 1:33 PM


Quoting imamomzilla:

 Wasn't his granny (the woman who raised him) the VP at a bank?

Didn't he go to Private School?

What about Occidental...?

What about trips to Indonesia and Africa?

Wasn't his step dad a wealthy business man?

I'd say he had it pretty cushy....

Quoting rocketracer:

We "didn't come from well-to-do backgrounds. We didn't have famous families," the president said of his upbringing and that of his wife, Michelle Obama.

Class warfarin' it up again.

ETA:  How can he defend setting up college funds for his daughters?


 

Read a little deeper.  Here is an excerpt from Time about his grandmother's position at the bank:

Obama's birth does not appear to have been planned. His mother and father met at the University of Hawaii and got married when she was already pregnant. To help provide for the new baby, Obama's grandmother, who did not have a college degree, got a job as a secretary at a bank. For more than two decades, she got up at 5 a.m., put on a suit and took the bus to work, arriving first at the office. Eventually — and much more slowly than her male counterparts — she advanced and was promoted to vice president. She earned more money than her husband, and her job became a "source of delicacy and bitterness" for the couple, Obama wrote in his memoir, Dreams from My Father.

Read more: http://www.time.com/time/politics/article/0,8599,1856116,00.html#ixzz1t4dpR0tT


I suppose you will rip into this article since you cannot seem to hear anything that disputes your views of Obama, but I post it more for other people who might actually be interested in the truth.

Occidental and the Hawaii Prep School? Scholarships.  Read the following (the first part is a hoax e-mail by the way, the second part clarifies the points made in it.  Michelle and Barack Obama were both deep in student loan debt, and it was his book sales that ended the debt for them.

http://www.snopes.com/politics/obama/money.asp

He stayed with family in Africa, and while his father was moderately well off in Africa, he had fallen on bad times by the time his son was in college, primarily because he was very vocal in his views and offended the nation's rulers.  That and he had a drinking problem it would appear.  Obama's family had issues definitely, but you cannot say they lived in the lap of luxury.

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