May 31st, 2013
01:00 PM ET
2 years ago

Obama repeats strategy in student loan fight

Washington (CNN) – If at first you succeed, then by all means, try, try again.

President Barack Obama returned to a successful strategy from last year's election campaign by calling Friday for college students and their families to mount pressure on congressional Republicans to prevent a jump in some student loan rates set to occur on July 1.

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Filed under: Education • President Obama
soundoff (16 Responses)
  1. just sayin

    ding, ding, ding, ding.... obama ringing the free money bell again for his supporters! come and get it! now are all you people starting to see why obama wanted the government to take over these loans??? free money for his useful idiot voters. vote for democrats, get free money.

    May 31, 2013 01:05 pm at 1:05 pm |
  2. Independent

    I just graduated with a BS and have student loans, what is wrong with paying an average rate on those loans, and in fact a much lower rate then credit cards and many other unsecured loans have? My card loan is around 5.5 and that is guarenteed with colllateral. The government can't pay for everything for everyone, I am ok with the rate going up to around 6%, that is a reasonable rate, but I did not rack up 100s of thousand in student loans so I will not be paying that much in interest, maybe that is why I am ok with it.

    May 31, 2013 01:08 pm at 1:08 pm |
  3. Independent

    *****car loan not card

    May 31, 2013 01:09 pm at 1:09 pm |
  4. Gurgyl

    Cut kids interest rate to less than half for good.

    May 31, 2013 01:10 pm at 1:10 pm |
  5. Liberal Sense (Or lack thereof)

    The bill has passed the House and now it's up to the Democrat run Senate. If you're goign to veto it Obama just because republicans passed it (as usual) then so be it. It's on YOU.

    May 31, 2013 01:14 pm at 1:14 pm |
  6. rob

    @just sayin

    AMEN. You hit it right on the head. Great post.

    May 31, 2013 01:44 pm at 1:44 pm |
  7. T

    .....Just a question..........WHY cant the college kids pay the 10 tear T Bill rate, plus 1% for costs............?

    May 31, 2013 01:45 pm at 1:45 pm |
  8. Fair is Fair

    The question that really needs to be asked is why has the cost of attending college far outpaced the rest of the economy... including healthcare? And why don't more students attend public & community college for the first couple of years while they're "discovering themselves and what they want to be" when (if) they grow up?

    May 31, 2013 01:48 pm at 1:48 pm |
  9. just askin

    why can't these people pay the interest on these loans like they agreed to do? why is this now a matter of a national politcal debate? nobody forced them to take the money. why should the taxpayers be subsidizing these loans at artifically low rates? all of these student loan free riders need to suck it up, get a job and pay their loans back as they agreed to do.

    May 31, 2013 01:50 pm at 1:50 pm |
  10. Rudy NYC

    Liberal Sense (Or lack thereof)

    The bill has passed the House and now it's up to the Democrat run Senate. If you're goign to veto it Obama just because republicans passed it (as usual) then so be it. It's on YOU.
    -------------
    They did? The House passed a bill lowering rates on student loans? When? Does it repeal the ACA, too?

    May 31, 2013 01:58 pm at 1:58 pm |
  11. mattk

    It is just a life-lesson for kids coming out of college to get ready for massive debt you will take on when you try to leave your parent's house.

    May 31, 2013 02:13 pm at 2:13 pm |
  12. Sniffit

    "obama ringing the free money bell again for his supporters"

    Sigh. More Teatroll pidgin language. Obama's proposal and the GOP/Teatroll proposal are, in fact, somewhat similar. Both have tied the interest rate to a market-based indicator. One of the key difference is that the GOP/Teatrolls did not include any limitation on the percentage of a person's annual income that the payments can reach, which is an important protection if you're going to tie it to market rates that might skyrocket if the economy takes off. Conversely, Obama's plan limits it to 10% of a person's annual income.

    If the GOP/Teatrolls weren't so busy trying to set this up this so that they can, some years later, blame it on Obama and Dems when someone loses their home, declares bankruptcy, etc., because their student loan payments someone climbed as high as 25% of their annual income when he market got really good, then this would be a done deal by now. But they WANT to punish college students and deter college attendance because these students are voting for Dems....so eff them, right? Better that they not go to school and be more easily misled by GOP/Teatroll misinformation campaigns as a result.

    May 31, 2013 02:18 pm at 2:18 pm |
  13. Sniffit

    "If you're goign to veto it Obama just because republicans passed it (as usual) then so be it. It's on YOU."

    Ignoring the arguments Obama has made regarding what needs to be done to make the legislation workable, specifically what protections are missing to prevent students from getting soaked by these loans later in life, does not make those arguments go away. That you choose to distract instead of rebutting with a cogent argument of your own suggests you recognize that you don't have one.

    May 31, 2013 02:21 pm at 2:21 pm |
  14. sonny chapman

    Why didn't they just borrow the $100,000 from their parents ? That's chump change old chap.

    May 31, 2013 02:25 pm at 2:25 pm |
  15. Rick McDaniel

    Let's rephrase the President's words..........what he really said..........is........."I personally am a GOD, and it is my view, that everyone should have the right to attend college, no matter what, and that the government (the taxpayers of course), should have to pay for that, because it will make America's poor better off, in the future.......some time or another.......not sure when........but when I give hand outs, I get votes, and that's ALL that matters........keeping the Dems in POWER!"

    May 31, 2013 02:30 pm at 2:30 pm |
  16. Guess

    More proof of how much thee gop wants an educated america, they dont, period. gop has done more damage to education than you think, michelle rhee anyone? she was there to do one thing.. break the unions at all costs, another piece of evidence that unions do matter, anything the gop attacks is something worth saving. pure evil. hate and greed, thats all they offer

    May 31, 2013 02:53 pm at 2:53 pm |