June 7th, 2012
04:28 PM ET
Obama's new hashtag: #dontdoublemyrate
LAS VEGAS (CNN) - President Obama is trying to use the success of social media to get his proposal to prevent interest rates on student loans from doubling at the end of the month.
While speaking to a crowd of 2,500 on the campus of University of Nevada-Las Vegas, he urged students to pressure Congress for action by writing on their Facebook walls, and tweeting with the hashtag #dontdoublemy rate.
He told the students that if Congress didn't act by July 1st, interest rates on federal student loans will double and would end up costing the average student an additional $1000.
"At this make-or-break moment for America's middle class, we can’t afford to have Congress take five months off. You've got to keep working. You're not suddenly just sitting around not doing anything," he told the crowd. "You should expect the same thing from your representatives in Washington, right ?"
Obama also said he and the first lady personally understood the burden of school loans.
"We were lucky enough to land good jobs. But even with those great jobs that we had, we only finished paying off our student loans about eight years ago. Now, think about that," he told the audience. "I’m the President of the United States and it was only about eight years ago that I finished paying off my student loans. So I know what a lot of you are going through. I’ve been there. I have done that. "
He issued a presidential memorandum to the Secretaries of Education Treasury on Thursday to improve the process for what the White House says will educate borrowers and make it easier to pay back their loans. His stop at UNLV was an official event in the politically important state of Nevada and was the last stop on his two-day swing out west for mostly a fundraising tour.
He's trying to help isn't he? Good intentions I'm sure ( along of course with trying to woo this group of voters...) but ending up pushing the cost of an education higher. As if he cares.
NO NEED TO BE CYNICAL, BUDDY, UNLESS YOU SUPPORT RUIN ROMNEY?
More cash for votes.
It is not being cynical if it is true. He will throw anyone under the bus at any time to gain votes. He proved it when he threw Michelle under the bus with his "joke".
And BTW Libs, don't try to tell me he didn't know he was telling a joke – the only other option would be that he is a complete idiot and he did not know what he was saying. I have to say though, when this crazy stuff comes out, and it has over and over again under this administration, my first thought (after his 1st year in office) is always that Obama just does not know what he is doing.
Somebody needs to cover the $3,000,000 coaching salaries.
I wonder why we never see anything on the high costs of tuition and what the money is actually used for. Then we have the "grants" that go to many, many schools. Then we have...
$1.6Billion to John Hopkins U., $636 million to U of Mich., $620 million to U of Wash., $532 million to MIT., $511 million to U of Cal., SD., and on, and on, and on. These are things this administration ignores while they tell us the repubs are blocking bla, bla, bla.
Money owed on college loans is approaching 1TRILLION this year and this administrations goal is to increase participation in this government boondoggle and add more billions to the money owed? Yet another business the governmnet should not be in.
The Hashtag should be #DontDoubleMyDebt New US debt has doubled to $15,734,596,578,458.59.
Not to be confued with his other tag #doublemyrate
health insurance rates
government spending rates
Eight more....Read it and weep! Obama 2012
HAS YOUR TYPE ANY RESPECT FOR THE PRESIDENCY OF THE UNITED STATES?
For the office, yes. But we are just getting to know the person. Take his recent joke – very unpresidential. Take when Bush was at the WH last week – Obama talking about the mess that was left – very unpresidential. I also have no respect for Nixon, Clinton or Bush 2 if that matters...
"I’m the President of the United States and it was only about eight years ago that I finished paying off my student loans."
That's just another aspect of this bozo being too inexperienced for the job.
Isn't it great that he paid for his college expenses as most students do, whereas Romney most likely had some assistance, probably complete assistance. Has Romney ever had to worry about paying such debts? He cannot relate to most students and it really matters in situations such as this.
WOW, I AGREE: IMAGINE HOW THE PRESIDENT OBAMA STRUGGLE PROPELLED HIM TO THE USA PRESIDENCY? JUST AWESOME 🙂
INSTEAD THE RUIN ROMNEY NOMINATION WAS ARRANGED, LIKE THE WALKER BUSH ELECTION WAS?
Romney worked for everything he has and the millions he has donated through the years. Obama had things handed to him. It is time for us to see his transcripts and his applications to schools. We need to find out what this guy is really about. He denied many things about his past and his media shills did not follow up on almost everything about him. He denied he was a member of the Democratic Socialists of America, and the New Party/Progressive in Chicago just before he was elected.
John translation....you mean Romney rolled every company he bankrupted and left the workers high and dry.
Gov. Robme is not a leader. He is a puppet of the 1%. Corporations are taking over America. Arizona's top corporate ceo from Freeport-McMoran, Richard Adkerson, made $82,000,000 in 2011. I thought we were in a recession.
VERY CLEVER DESCRIPTION OF RUIN ROMNEY 🙂 I LIKE YOURS BETTER,THANK YOU 🙂
VIVA PRESIDENTE OBAMA, RA RA RA , YESS::)
You consider Obama, who has no real working experience and has done a terrible job, a leader, but Romney, who has governed a state that was in recession when he took over and he brought their unemployment down to 4.7% and has been a very successful business person is not? Typical liberal talking points.
You Obamunists keep up the good work and ignore what is happening to this country.
Liberals are so jealous. How's that green working for you libs?
JELAOUS OF A COMPULSIVE LIAR LIKE RUN ROMNEY? HNAHAHAHAHAHAHHAHAHHAHAH HE FOOLED YOU, NOT ME, LUCKILY :))))))
Here we go.... What do you think Romney lied about? You libs just throw stuff out there and hope it sticks. I understand you are just following the lead of the current administration, but working Americans are totally fed up.
@ John.....Well there is the whopper about how he saved the 2002 Salt Lake Olympics...Oh Yes! He sure did, but only because of a $1.3 billion pork barrel U.S. Taxpayer bailout. I would give the credit to the U.S. taxpayer.
How will students ever learn self suffiency if they aren't weaned off their pablum. Isn't student debt in the trillions now? Didn't they have their taxes garnished because they failed to pay off their student loans. Some didn't even bother to pay off the loans. Alowing a reduced rate, backed up by the government is a real good idea Eh???
Ask Romney if he is willing to donate all of his $200 to $300 million to help to pay off USA debt but he can keep his $10 million so in that way we can see if he truly cares about our country.
Stupid! He's really getting desperate. Now Moochelle is also getting into the act.
They are both pathetic!
America, hold your ground and be unafraid!!!
THANKS FOR THE PEP TALK. WAS THAT STRAIGHT FROM RUSH LIMBAUGH'S REAR END?
#dontdoublemyrate – is he referring to student loan interest rates or US federal tax rates?
IF YOU HAVE TO ASK, THEN YOU'RE NOT PAYING ENOUGH TAXES. NO WONDER THE DEFICIT IS OUT OF WHACK!