Sean, of course, is trying to make everyone think that Obama has done nothing on his 2008 campaign promise to help with increasing costs of student loans. The smug smile on his face shows that he doesn’t know what he’s talking about.
For instance, on March 30, 2010, President Obama signed the Health Care and Education Reconciliation Act of 2010, which saved $68 billion by removing banks from the student loan processing business and freed up more to be given that could be spent on helping students pay for college.
Also, he saw to it that the law stated:
“New borrowers who assume loans after July 1, 2014, will be able to cap their student loan repayments at 10 percent of their discretionary income and, if they keep up with their payments over time, will have the balance forgiven after 20 years.”
Borrowers are allowed to consolidate some of their payments and save a half of a percentage point interest. (Republicans are now trying to double the interest rate in student loans.)
President Obama has done a great deal to remove the big bank corruption from the student loan program and has made the program more about actually helping students get an affordable education, not adding to corporate bottom line.
What has Obama done for students who have loans? More that Sean Hannity’s lying heart will ever be able to admit.
—-> Thanks to Politicus USA
- Sean Hannity Gives Cornel West And Tavis Smiley A Hard Time Over Their Poverty Initiative (mediaite.com)
- Rich Guy Sean Hannity Thinks Poor People Should Survive on Beans [The War on Welfare] (inquisitr.com)
- Hannity embarrasses himself again (respectinpolitics.org)
- House keeps lid on student loans (timesleader.com)
- Watch: President Obama on student loan interest rates (mnn.com)
- Obama Will Veto Student Loan Bill (lezgetreal.com)
- House Passes Student Loan Bill (myfoxphoenix.com)
- Obama Pushes Low-Rate Student Loans (npr.org)