THE BIG FAIL: Obama Claims To Have Made College More Affordable, ButStudent Loan Debt Continues To Burden Grads Under His Watch

ACCORDING TO A NEW REPORT, THE AVERAGE STUDENT LOAN DEBT FOR THE CLASS OF 2011 HAS INCREASED YET AGAIN TO $26,600

Two-Thirds Of Graduates From The Class Of 2011 Have Student Loan Debt, With An Average Of $26,600, An Increase Of Five Percent From Last Year. “We estimate that two-thirds (66%) of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 for those with loans. The five percent increase in average debt at the national level is similar to the average annual increase over the past few years. (“Student Debt And The Class Of 2011,” The Institute For College & Success, 10/12)

• “It’s The Latest Snapshot Of The Growing Burden Of Student Debt And It’s Another Discouraging One.” It’s the latest snapshot of the growing burden of student debt and it’s another discouraging one: Two-thirds of the national college class of 2011 finished school with loan debt, and those who borrowed walked off the graduation stage owing on average $26,600 – up about 5 percent from the class before.” (Justin Pope, “Average Debt Up Again For New College Grads,” The Associated Press, 10/18/12)

“Ohio Students Who Borrowed For College And Earned A Bachelor’s Degree In 2011 Graduated With An Average Of $28,683 In Student-Loan Debt.” “Ohio students who borrowed for college and earned a bachelor’s degree in 2011 graduated with an average of $28,683 in student-loan debt, which ranked seventh highest in the nation for the second year in a row, a new report finds.” (Encarnacion Pyle, “College Debt Of New Ohio Graduates Rises 3.5%,” Columbus Dispatch, 10/18/12)

• That’s “8 Percent Higher Than The National Average Of $26,600 And A 3.5 Percent Increase Over What Ohio Students Who Graduated In 2010 Owed.”“That’s nearly 8 percent higher than the national average of $26,600 and a 3.5 percent increase over what Ohio students who graduated in 2010 owed on average, according to the report by the Project on Student Debt.” (Encarnacion Pyle, “College Debt Of New Ohio Graduates Rises 3.5%,” Columbus Dispatch, 10/18/12)

• “And Like The Previous Year, 68 Percent Of The State’s 2011 Graduates Left School With At Least Some Student-Loan Debt.” (Encarnacion Pyle, “College Debt Of New Ohio Graduates Rises 3.5%,” Columbus Dispatch, 10/18/12)

New Hampshire Has The Highest Student Loan Debt, With An Average Of More Than $32,000 Per Student, While Pennsylvania Is Second With An Average Of $30,000 Per Student. CNBC’s SCOTT COHN: “Much of the debt is concentrated here in the northeast. Connecticut is the fifth highest debt totaling nearly $28,000. Rhode Island is fourth at just over $28,000 per graduate. Number three is Minnesota with more than 70% of the graduates there in debt, averaging just under $29,000 and Pennsylvania average student debt is just under $30,000, and the most indebted state is New Hampshire, with more than $32,000 in average student debt. Three-quarters of the graduates in New Hampshire have student loans.” (CNBC, 10/18/12)

Via: GOP.com

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Obama to Jobless Law-School Grad: No Immediate Solution, But 'Don't Be Discouraged'

Your not getting a job anytime soon

(CNSNews.com) - "I understand how tough it is out there for recent grads," President Obama told a jobless law school grad during an online chat on Wednesday. In the "long-term," things will get better he said -- but he couldn't make any promises about "our  immediate economic challenges."

"So don't be discouraged -- we didn't get into this fix overnight, and we won't get out overnight, but we are making progress and with your help will make more," Obama said.

In an "interview" with users of the online news-and-comment website Reddit, President Obama took a question from someone who recently graduated from a "top law school" with big student loans to repay -- and can't find a job.

"While I'm sure my immediate prospects will improve in time, it's difficult to be optimistic about the future knowing that my ability to live a productive life -- to have a fulfilling career, to buy a house, to someday raise a family -- is hampered by my debt and the bleak economic outlook for young people." 

The questioner said he knows many people who are similarly demoralized, particularly young people who campaigned for Obama in 2008: Why should they vote for Obama again? "What hope can you offer us for your second term?," the law school grad asked.

President Obama mentioned his health care law, the student loan bill, "advanced manufacturing," his green energy policy -- and tax hikes on the wealthy:

"You're right -- your long term prospects are great, but that doesn't help in the short term," Obama responded. 

"Obviously some of the steps we have taken already help young people at the start of their careers. Because of the health care bill, you can stay on your parent's plan until you're twenty six. Because of our student loan bill, we are lowering the debt burdens that young people have to carry. 

Via: CNSNews

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