09
Jun
14

President Obama Reduces The Burden Of Student Loan Debt

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President Barack Obama applauds during an event in the East Room of the White House, where he signed a Presidential Memorandum on reducing the burden of student loan debt. The president said the rising costs of college have left America’s middle class feeling trapped. He says no hard-working young person in America should be priced out of a higher education. President Obama signed a presidential memorandum he says could help an additional 5 million borrowers

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Text of the President’s remarks here

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President Barack Obama signs a Presidential Memorandum on reducing the burden of student loan debt

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Chicago Tribune: Obama Moves To Ease Student Loan Burdens, Urges Congress To Act

President Barack Obama on Monday signed an executive order making it easier for up to 5 million people to pay off college tuition debt, and scolded congressional Republicans for opposing legislation that would lower student-loan borrowing costs. Obama signed an executive order allowing more people to limit repayments of federal student loans to 10 percent of their monthly incomes. The action will not take effect until December 2015. The administration will also try to lower student costs by renegotiating government contracts with companies like Sallie Mae that service student loans, he said.

The president said Congress should also take steps to ease debt burdens on students, 71 percent of whom earn bachelor’s degrees with debt, which averages $29,400. Senate Democrats have proposed legislation that would allow millions of Americans to refinance both federal and private undergraduate student loans at lower interest rates. The bill is unlikely to overcome the opposition of Republicans. “If you’re a Big Oil company, they’ll go to bat for you,” he said. “If you’re a student, good luck.”

More here

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And later….


70 Responses to “President Obama Reduces The Burden Of Student Loan Debt”


  1. June 9, 2014 at 6:43 pm

    Howdy all.

    • June 9, 2014 at 6:47 pm

      Good one, LL.

      I was typing the following in a response to a tweet that Donna had posted near the bottom of the previous thread and then noticed that a new thread had been launched ….

      As I noted in a tweet late last night …

      … we live at a time of #PeakGreed and #PeakHate in America. The two are inherently connected.

      Fear and hate are the currency of the #Kochs, the #MIC & other American #Kleptocrats. The more wealth they have amassed the more they must stoke the fear and hate because without those two currencies flowing throughout American society their ability to ravage the environment and to profit from proliferating the populace with vast amounts of weapons and ammunition will be significantly impaired.

      If we don’t stop them on 4 Nov 2014, what we’ve witnessed just since Sandy Hook (more than 35,000 Americans killed by guns in barely 18 months v ~ 2200 killed in 17 years of war in Afghanistan) will certainly be eclipsed by even more violence and the concomitant escalation of fear.

      #LandslideDEMS2014

      Yes We Must

      • 11 jacquelineoboomer
        June 9, 2014 at 9:33 pm

        First thing I thought of when I saw your tweet and #4Nov14SHOWDOWN was that we should all meet at “High Noon” that day to VOTE!

    • June 9, 2014 at 7:34 pm

      In America….White Supremacy…Racism….have a certain normalcy… This Anti-Government fervor…always has a racist edge to it…

      In the Blk community …Racist Terror has always presented a threat…aka The Klan who brought the terror in the night…lynching… Police Brutality…..etc…There have been tweets stating that if Blk Men decided to open carry….well you know what would happen….

      Why is it so hard for Americans to see white men as Domestic Terrorists…and why hasn’t the Press called them out?…White Priviledge

  2. June 9, 2014 at 6:44 pm

    Thanks NW for the great post. Where is everyone? Chips told us you had a post with pics ready? Have way too many tabs open, need to close some. . .

  3. 16 Nena20409
    June 9, 2014 at 6:44 pm

    Good Evening TODers ;)

  4. 17 donna dem 4 obama
    June 9, 2014 at 6:46 pm
  5. 18 donna dem 4 obama
    June 9, 2014 at 6:47 pm
  6. 22 donna dem 4 obama
    June 9, 2014 at 6:49 pm

    I guess there is no sense being coy about it.

  7. June 9, 2014 at 6:52 pm
  8. 27 pkayden
    June 9, 2014 at 6:53 pm

    President Obama does it again! Thank you, President for showing that you care about the 99% of us.

  9. June 9, 2014 at 6:57 pm

    Our Ambassador Pyatt and his team are quite skillful in their use of Twitter. A couple of his recent RTs …

  10. 33 donna dem 4 obama
    June 9, 2014 at 6:59 pm
  11. 38 donna dem 4 obama
    June 9, 2014 at 7:08 pm

    TOD go give our College Kay some love. She’s gonna be great tomorrow!!!

  12. June 9, 2014 at 7:08 pm

    Spandan’s latest!!

    “GOP and NRA’s Bloody Hands: White Supremacist Domestic Terrorists Shooting Up America”

    http://www.thepeoplesview.net/main/2014/6/9/gop-and-nras-bloody-hands-white-supremacist-domestic-terrorists-shooting-up-america

    • June 9, 2014 at 7:57 pm

      The Money Line…..
      Yet our national media lacks the journalistic integrity to fulfill the purpose of the first amendment: state the facts plainly and without regard to entrenched interests. Hence, we watch the coverage of these events in terrifying high definition, nonethewiser about their root cause. With clear evidence and the high frequency of these hate events, the role of our media has gone from ignorance to complacency

  13. June 9, 2014 at 7:10 pm
  14. June 9, 2014 at 7:15 pm
  15. June 9, 2014 at 7:16 pm
  16. 55 donna dem 4 obama
    June 9, 2014 at 7:18 pm

    Encore….

  17. 56 vcprezofan2
    June 9, 2014 at 7:19 pm

    Most likely Pres. Obama’s fault

  18. 62 desertflower
    June 9, 2014 at 7:25 pm

    Let’s review. 14 Points of Fascism. Look familiar?

    http://www.rense.com/general37/char.htm

  19. 64 globalcitizenlinda
    June 9, 2014 at 7:32 pm

    amazing how a few, loud but well-financed hatemongers with media platforms, can use vitriol to make voters numb & almost accepting things that were once fringe;

    there was a time when a huge majority would recoil from the gunning down of law enforcement agents in broad day light;

  20. 65 Dudette
    June 9, 2014 at 7:39 pm

    Woot!

  21. 67 Dudette
    June 9, 2014 at 7:40 pm
  22. 68 Dudette
    June 9, 2014 at 7:41 pm
  23. June 9, 2014 at 7:42 pm

    This image has jump started an essay. Hope to have it ready for tomorrow.


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