President Obama: Supporting America's Students

Source: White House

In this week's address, President Obama underscored the importance of helping to lift the burden of crushing student loan debt faced by too many Americans and highlighted the efforts he’s taken to ensure we uphold America's commitment to provide a quality education for all who are willing to work for it. While the President will continue to take action on his own, he urged Congress to do its part and commended Senate Democrats for working on a bill that would help more young people save money.

Read more: http://www.whitehouse.gov/the-press-office/2014/06/06/weekly-address-supporting-america-s-students

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I’ve taken action on my own to offer millions of students the opportunity to cap their monthly student loan payments to 10% of their income. But Congress needs to do its part. The good news is that Senate Democrats are working on a bill that would help more young people save money. Just like you can refinance your mortgage at a lower interest rate, this bill would let you refinance your student loans. And we’d pay for it by closing loopholes that allow some millionaires to pay a lower tax rate than the middle class.

That’s the choice that your representatives in Congress will make in the coming weeks – protect young people from crushing debt, or protect tax breaks for millionaires. And while Congress decides what it’s going to do, I will keep doing whatever I can without Congress to help responsible young people pay off their loans – including new action I will take this week.

This country has always made a commitment to put a good education within the reach of all who are willing to work for it. That’s what made us an economic superpower. That’s what makes us special. And as long as I hold this office, I’ll keep fighting to give more young people the chance to earn their own piece of the American Dream. Thanks, and have a great weekend.