Obama's plan to help college students
October 25th, 2011
02:19 PM ET

Obama's plan to help college students

WASHINGTON (CNNMoney) - President Obama is expected to announce measures aimed at helping college graduates climb out of their student loan debt hole.

One of the proposals would push up the start date for more favorable terms on a special loan repayment program based on income, sources tell CNNMoney. Another measure would encourage graduates with two or more different kinds of federal loans to consolidate them.

The initiatives were originally unveiled by Obama in his budget proposals. But the president is expected to trumpet them when he appears Wednesday at the University of Colorado's Denver campus.

The president is under pressure to address the financial concerns that students and recent graduates face with dour job prospects in this economy. Student loan debt, which is now outpacing credit card debt, is one of the things being protested at Occupy Wall Street marches in New York.

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soundoff (5 Responses)
  1. Jose

    HOW ABOUT A LOAN FORGIVENESS ? MR PRESIDENT ...CORPORATIONS BEEN GETTING WELFARE FOR YEARS. HOW ABOUT A LITTLE HELP FOR THE MIDDLE CLASS ???

    October 25, 2011 at 6:24 pm |
  2. Toshiba P200-1fy Battery

    If your student loan plan doesn't include principal writedowns, forgiveness, or interest-free deferments, it is not a serious plan.

    October 26, 2011 at 11:11 am |
  3. Buddy

    Why would the president again hurt the people that were intelligent enough not to go into student debt by paying off outstanding debt of millions. I have no problem with them reducing their monthly payment and spreading the money over a longer period of time. I would have gone into student loan debt got myself a job as an attorney or doctor but I realized one day that I will have to pay it all back and did I really want to put myself in debt. PEOPLE COME ON PLEASE BE REALISTIC...QUIT REWARDING THE PEOPLE THAT DO WRONG OR SHOULD HAVE THOUGHT ABOUT THE CONSEQUENCES BEFORE THEY GOT THEMSELVES WHERE THEY ARE TODAY.

    October 26, 2011 at 11:44 am |
  4. Mike

    This has got to be one of the dumbest plans yet. It targets our youth and, essentially, tells them it's OK not to achieve. Look at the economic stability of the entitlement countries in Europe who expect vacations, housing, education, ... etc. from "the government." Do we really want to model those countries?

    October 29, 2011 at 10:57 am |
    • anonomous

      stfu who are you to play him like that. if he feels this will help students then by all means let him be the president,. last i checked he was the president not ur dumb ass

      September 12, 2012 at 4:18 pm |