President Obama is answering questions about student debt via text message this week in order to promote his plan for more loan subsidies.
Collective student loan debt currently stands at over $1 trillion, and interest rates on federal Stafford loans are set double from 3.4 percent to 6.8 percent on July 1, unless Congress intervenes. Obama wants lawmakers to retain the lower rate and approve a slew tuition aid packages and gradual debt forgiveness programs.
The texting promotion is run by the White House, in conjunction with DoSomething.org, an activist organization for young people. Anyone with a question for the president can text “PREZ” to 38383.
Obama will answer one question each day. On Monday, Dan from Ann Arbor, Michigan texted, “What have you done and plan to do to lower student debt & tuition?”
Obama texted back, “We’ve expanded grants & tax credits, provided new options to manage debt and proposed incentives for colleges to keep costs down. More here: http://at.wh.gov/mlnUx.”
The Daily Caller News Foundation texted its own questions to the president on Tuesday.
TheDC News Foundation: PREZ.
Automatic Response: Welcome to Text with the Prez! He’ll answer 1 Q each day on student debt. Got a Q? Reply w/ it in 160 characters or less. (Seriously, the Pres. will text u.)
TheDC News Foundation: If we keep subsidizing students’ education, won’t colleges respond like they always do — by raising tuition?
AR: Awesome. Got ur question! Now just reply with your first name, last name & age to confirm. (e.g. Ron Weasley, 17)
TheDC News Foundation: Robby Soave, 24
AR: Sweet, got it. Stay tuned: the President will txt u from 38383 to answer 1 Q submitted by a DoSomething member each day this week Got another Q? Reply QUESTION
TheDC News Foundation: QUESTION
AR: Have a Q for the President about student debt? He’ll be answering 1 question from young ppl like you each day this week. Just reply w/ ur question to submit it!
TheDC News Foundation: Most recent graduates are underemployed. Isn’t this a sign we should push fewer people to go to college, the opposite of the prez’s plan?
AR: Great – we got your question. Have fun texting with President! (If you have more questions to submit, just text QUESTION)
TheDC News Foundation: QUESTION
AR: Have a Q for the President about student debt? He’ll be answering 1 question from young ppl like you each day this week. Just reply w/ ur question to submit it!
TheDC News Foundation: Liberals such as [Massachusetts Democratic] Sen. [Elizabeth] Warren want to treat students like banks and bail them out via the Fed Reserve. Do you support this?
AR: Great – we got your question. Have fun texting with President! (If you have more questions to submit, just text QUESTION)
After a one-hour lull, TheDC News Foundation received five subsequent responses. (The responses were apparently disordered, with the first part of the president’s answer arriving before the introductory message.)
AR: Great question from Marcus in Nevada, TX. He wants to know what we’re doing to make high school students more educated on loans before entering college. (1/4)
AR: It’s Day 2 of Text w the President. In a few mins President Obama is going to text you (ah!) to let u know what question was selected today & his answer to it.
AR: Students need info to make smart choices. We launched a College Scorecard & Financial Aid Shopping Sheet to compare schools, aid & loan options: at.wh.gov/mmMh3
AR: It’s something Michelle and I wish we had had when we were in your shoes — because sometimes we got surprised y some of the debt that we racked up. (3/4)
AR: If you’re willing to work hard, you should be able to afford to go to college. Thx, marcus for the Q. I’ll be here all week, so keep /em coming. (4/4)
The president did not select any of TheDC News Foundation’s questions.
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