Obama: Michelle and I only finished paying off our student loans 10 years ago

President Obama took a break from his Martha’s Vineyard vacation to champion his progressive compatriot Senator Elizabeth Warren’s (D-MA) student loan reform bill. During his weekly address, Obama said he would push Congress to consider Warren’s legislation, which would allow college graduates to refinance student loan debt.

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“Over the weekend, the President was talking about student loans again,” Pat said on radio this morning. “I love it when he talks about student loans because, frankly, it’s genius material. He really hits the nail on the head when he says things like this.”

While Obama avoided the trap of Hillary Clinton’s now infamous “dead broke” claim, the President did mention his own struggles with debt during the address:

OBAMA: But for too many families across the country, paying for higher education is a constant struggle. Earlier this year, a young woman named Elizabeth Cooper wrote to tell me how hard it is for middle-class families like hers to afford college. As she said, she feels “not significant enough to be addressed, not poor enough for people to worry [about], and not rich enough to be cared about.”

Michelle and I know the feeling – we only finished paying off our student loans ten years ago. And so as President, I’m working to make sure young people like Elizabeth can go to college without racking up mountains of debt.

As Pat and Stu joked, instead of using his clout to talk directly to the colleges and universities that are raising tuition costs at five times the rate of inflation, Obama blames Congress for not offering students “affordable” interest rates.

“I do like this about the President. He’s going directly to the colleges and telling them, ‘Your tuition costs are out of the control.’ They need to stop rising at five times the rate of inflation, like they are,” Stu quipped. “[But] he’s not doing that. He’s not going the place that sets the pricing. He’s going to the banks that set the pricing on the loans.”

Front page image courtesy of the AP

  • tonybigs

    As long as the bottomless well of money (the government) continues to hand out printed funny money the price of education (or health, or food, or…) will continue to rise. Don’t like the cost of education Mr. President Obama?

  • Crassus

    The bullets are flying in Gaza and Iraq. The Ukraine is ready to explode. Ferguson Mo is burning to the ground. Obamao talks about student loans. What leadership. Aren’t we lucky to have a POTUS like him?

    • Something Is Wrong

      Hey man, be nice. He was just reminded recently on his vacation about how about 10 years ago his golf game started really improving and that about the same time he paid off his student loans. He’s just trying to connect the important events in his life and pass those valuable moments forward. Maybe if he can just make it so no student ever has to deal with debt any more then all of our golf scores can likewise improve, leading us all to more leisurely and happier lives.

      Just as an end note so I don’t get a lot of misdirected hate comments, I soaked the above comments in sarcasm for about 20 minutes and then let them drain just a little (so they weren’t quite sopping) before serving. Bon apetit!

  • spyder43

    Isn’t it interesting that someone who was making tons of money as a lawyer,(he and his wife – with her no show job) just like the fake indian with her $300,000 1 class a semester job – could not afford to pay his college bills. Did he really have any bills? I thought they got college tuition for free – protected class.

  • # SoulLeister

    more lies from the imposter… michelle has said before in interviews that her father dutifully paid her college bill every year… working his fingers to the bone to make sure they had the money to put his baby through school… she didn’t have any loans to pay back (any loans would have easily been paid by contributors to her husbands political career… that is what they do: mortgage their home (on paper) but someone else pays the mortgage for them… just like when someone else pays their taxes for them… just like someone else picks up the tab for their vacations/junkettes… etc. The elites don’t “pay” a damn thing.

    • ReformSchool

      Good News! My Democratic Party membership and votes have finally paid off. The Democratic Party has officially me a member of their millionaire’s club. They have promised to give me a dollar a year for a million years!

  • jalina susan stutte

    Obama and his fat bride had no student loans because blacks go to college free! Obama also had a rich muslim paid for his Harvard education.

    • mightguy

      “Blacks go to college free!” Really? I’m black and my college education was definitely NOT FREE!!!

      • Kiwi

        Seriously. It’s really not fair to say “blacks go to college free” as if any black person could just go to whatever college for whatever cost they feel like. These comments are the ones that make me sad for the generation before me. If you don’t treat black people as equals(not superiors, either), you will forever delay the day our segregation lines blur enough to blend.

      • doug

        You must be bad at sports.

  • http://truthofg.blogspot.com/ Connor Kenway

    So he was making millions but yet it took them ten years to pay it off? Really something tells me that they stretched it out for political reasons.

  • blaineiac

    “Michelle and I only finished paying off our student loans 10 years ago.”

    Really? How stupid does he think we are. I’ll bet if you followed the money on this one, it would lead all the way back to Saudi Royalty. I could be wrong, but certainly don’t think “Foreign Students” qualify for U.S. Banking or U.S. Government “Loans”!

    • RadioPatriot

      He must have been referring to Moochelle’s student loan debt. His were paid in advance by his pals… Saudi Prince Bin Talal, among them.

  • ANTHONY CLIFFORD

    I’ll give the President some credit on this one. I have always taken issue with how student loans are one of the few loans that can be mediated and restructured in a bankruptcy. No debt should be excluded from Bankruptcy court. The point of bankruptcy is to prevent indentured servitude. There are thousands of Americans that are way over their heads in student loan debt and there is no way out. While I agreed with being forced to be responsible and paying debt, they are aimed at exploiting 18 year-olds that don’t think before the act. I just think that student loans should be governed by the same rules that other loans are.

    The rising cost of tuition is another thing that needs to be addressed. This isn’t being driven by the free market, it is the product of government intervention. 30-40 years ago some people got the crazy idea that we should boost college attendance by making federally insured loans available. This made an artificial demand for higher education. Colleges learned that with these new loans, potential students would be willing to pay more for an education than they would have before. This in-turn caused the colleges to continually raise prices beyond inflation or demand. Knowing that they own the supply they could charge what ever they wanted to. Then some for profit universities tried to come in and sell an education at lower prices to the consumer. These schools are constantly being portrayed as shams of educations though a huge media campaign. This is all done so they can keep their tuition levels above what the market would allow.

    • Krimsen King

      sorry I got stopped here… THERE IS NO “ARTIFICIAL DEMAND” FOR HIGHER EDUCATION… IT IS ALL VERY GENUINE DEMAND…. I know… maybe we shouldn’t treat education (a basic necessity for civilization) as any other ‘marketable commodity’… maybe it doesn’t play by the ‘free market rules’ that any other consumer product does… u know, like healthcare… hey…. MAYBE JUST ANYTHING AND EVERYTHING SHOULD NOT BE BASED SOLELY ON PROFIT…. just a thought….

      • ANTHONY CLIFFORD

        So are you saying that the demand for college would be as high, if the government didn’t insure loans for those whom can’t pay off their debt. Judging by your use of letters in place of real words, you’re not the most educated of people. Also proper punctuation is important, if you don’t want me to call you an idiot.

        Many of the most successful people in the history of our country, never went to college. The current wealthiest person on earth is a college drop-out. This dispels your assertion that higher education is a necessity.

        An education most certainly is a commodity that fluctuates in price with market forces. You might be confused by the fact that you cant touch, smell, see, taste or hear an education. The commodities are the skills that you learn. It gives you the basic tools to begin a career path. You can obtain these tools without schooling, but colleges exist to help you obtain these skills. Colleges create the supply of this education and students (consumer) create the demand. Government distorts the market with regulations, loans, grants and scholarships.

        I’m glad I could break this down “Barney Style” for you. Please feel free to bring your ignorance to me. I would be happy to enlighten you in the future.

        • Krimsen King

          yes… let us ‘break this down’ alittle, shall we…. First off.. demand for education WILL NEVER CHANGE… these ‘market forces’ you so carefully analyze ONLY AFFECT EDUCATIONAL OPPORTUNITY… but the demand, peoples’ need and desire for higher education WILL ALWAYS EXIST IN THE SAME AMOUNT, regardless of the free market… Secondly, people who became ‘successful’ who dropped out of higher education most often succeeded DESPITE not having a higher education, and even those that did drop out got SOME education, didn’t they… as for my writing style here… I really don’t care what you think or what you care to call me.. I write here the way I do because it is a MERE COMMENT, a simple response, and OBVIOUSLY not a formal essay, no matter how fond of the formal trappings you may be.. And finally.. the government… OUR GOVERNMENT, of by and for WE THE PEOPLE obviously, NECESSARILY distorts the free market… in case you didn’t notice, at the beginning of this century, policies exactly like the ones you propose were instituted all over this country… massive de-regulation, removal of this government ‘distortion’ of the precious ‘free market’, and what did we get?? OUTSOURCING.. in the words of a president “We’re gonna transition from a manufacturing economy to a service economy”… brilliant ‘free market solution’ that shipped decent, well-paying jobs to slave labor markets all around the world… we got a PRIVATIZED MILITARY, also known as mercenaries and war profiteers.. and that’s not even talking about the ridiculous tax breaks, cuts, shelters and subsidies that the ‘free market’ sees fit to give the most ridiculously wealthy oligarchs in human history… So… long story short… some things in a civilized society CANNOT and SHOULD NOT ever be based solely on profit… one of these is education… there’s my ignorance.. now, please enlighten me hahahaha ;)

  • Nunya bidness

    Is Glenn off to his secret pleasure boy trips to Thailand?

  • Shay Malul

    he is on a mission to destroy America and help his new best friends from isis and Iran finish what they started in 9/11 Obama needs to step down.

    • Jenn

      you hit the nail right on the head with that statement…

  • jimwiley

    Another propaganda lie by the King and Leader of S.U.C.K. that stands for Serious Undermine of the Constitution by the King.

  • http://www.mrchrisg.com/ mrchrisg.com

    Doesn’t Barry mean he & Moochie had taxpayers pay their loan bills?

  • C123J45H

    I have some swamp land in Florida to sell you if you believe that.

  • BO_stinks

    called supply and demand. They are old fashioned anyways- new way to learn is via internet colleges popping up.

  • Jenn

    obummer can say whatever he wants…everything that comes out of SATAN’S (obummer’s) mouth is all just a bunch of lies anyway and anybody who believes him is just as stupid!

    • Krimsen King

      quick and easy… demean, dismiss, and delete…. well done…….

  • Dee Mayle Hallam

    His vacations are costing tax payers 1000 times the inflation rate!

  • jonsen

    I’ll bet’cha he’s lying about his student loan debt being paid off only ten years ago.

  • michaeltbal

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    ——— http://new-payatom.com

    ——————————————————————

  • doug

    remember that fake salary mooooochelle got! thats how they paid off their debt. Hillary had 20 million in campaign debt and paid it off in a year and a half…broke!!!, as she puts it.

  • Ed Ingraham

    In my opinion, Obama’s criminal regime is a menace to mankind.

  • Bob Jutzi

    They should be able to just spend their way out of debt like
    Biden.

    Why doesn’t this nonsense apply to the rest of us?

  • kickme22

    WAIT WAIT WAIT……what’s wrong here…..Universities are private companies that can set any price they want…right guys?? So this is a good thing, free market and all that….a competitor will come along shortly and they’ll all drop their prices to compete….right guiz??? In fact, we should abolish student loans at all….you should pay for your schooling through hard work…no more government handouts