Obama Signs Memorandum To Help Young People To Manage College Debts

Posted On 11 Mar 2015
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Tag: Obama signed an executive memorandum to help college debt, Obama signs memorandum to help manage College Debts

Barack Obama.

US President Barack Obama on Tuesday signed an executive memorandum with new measures to help college to better manage student loan debt left over 70% of whom are licensed with an average figure of $ 28,000.

By signing the memorandum in the Oval Office, Obama emphasized that a priority since coming to the White House has been trying to ensure that “all young” country willing to make the effort “can afford to go to college “.

With the issued directive seeks to “streamline and improve the way the federal government interacts with students regarding loans,” Obama told reporters.

The memorandum directs the Department of Education and other federal agencies to study new ways of helping students to enable them to refinance their debts.

It also asks lenders to companies that establish contracts with the government to collect debts to better inform students of payment options and to notify them when they are in arrears.

Furthermore, the creation by the Department of Education, a new web page for July 2016 in which students can check the status of your loans and make complaints or claims is established.

After signing the memorandum, Obama traveled to Atlanta (Georgia) to deliver a speech at Georgia Tech University in which detailed the new measures taken by his government.

“All students deserve access to quality education and affordable,” said the president, who was himself an example and said it took him over ten years paying off your student debt, which managed to complete after two daughters were born.

Tiffany Davis, who is in aerospace engineering at Georgia Tech and who wrote a letter to the President expressing concern for the debts of the university, was in charge of presenting today Obama.

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