Obama acts to ease burden of student loans

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WASHINGTON (Reuters) - President Barack Obama is taking steps to ease the burden of student loans, the White House said on Tuesday, potentially helping millions of cash-strapped college graduates in a tough economy.
Students helped push Obama into the White House in 2008. As he campaigns for reelection in 2012, Obama's public approval ratings have fallen near 40 percent, the low of his presidency, because of discontent with his economic stewardship.
The loans initiative will be the third such move by Obama in as many days, following action to aid homeowners and boost hiring of military veterans. The White House wants to show he is an activist president battling a "do-nothing" Congress.
"Steps like these won't take the place of the bold action we need fromCongress to boost our economy and create jobs, but they will make a difference," he said in a statement.
The rise in private student lending and growing debt defaults have also been highlighted by the Occupy Wall Street protesters.
More than 36 million Americans have federal student loan debt, but only 450,000 have so far taken advantage of the existing income-based repayment program.
The loan changes do not require approval by Congress.
Obama plans to accelerate a plan to cap student loan payments at 10 percent of income, bringing it forward to start in 2012 instead of 2014.
Obama will announce the student loan measure in Denver on Wednesday as he wraps up a swing through western states that will be vital to his re-election campaign in 2012.
The White House estimates the loan changes could cut monthly payments for 1.6 million graduates.
Student debt will also be forgiven after 20 years, compared with 25 years under current law.
Obama acts to ease burden of student loans
 
Republican lawmakers blocked a $447 billion jobs plan put forward by Obama last month because it raises some taxes.
Americans owe more on student loans than on outstanding credit card debt, and total loans outstanding are slated to exceed $1 trillion this year, according to the Federal Reserve Bank of New York.

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Facing a sluggish economic growth and stubbornly high unemployment rate now at 9.1 percent, Obama unveiled a 447-billion- dollar jobs plan on Sept. 8, which includes measures like payroll tax cuts for employers and employees as well as new investment in infrastructure projects.
However, Republican Senators scuttled the jobs package on Oct. 11, and a portion of the bill, which provided 35 billion U.S. dollars to state and local governments to prevent layoffs of teachers, police officers and firefighters, failed to advance in the Senate on Oct. 20.
The White House was taking a host of small-bore executive branch moves to bypass the Congress obstruction to boost the weak economy this week, including helping more distressed homeowners refinance their loans and helping students manage their loan debt.

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Soon after arriving at the Shibalidian Primary School in Beijing's Chaoyang District on Tuesday morning, Wen took part in a 40-minute basketball training session with 37 sixth-graders.
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Soon after arriving at the Shibalidian Primary School in Beijing's Chaoyang District on Tuesday morning, Wen took part in a 40-minute basketball training session with 37 sixth-graders.
Following the instruction of teacher Zhang Tao, Wen learnt how to dribble and control the ball. A successful jump shot won him a big round of applause from the pupils.
Wen was also invited to play in a basketball match between two three-person teams of mainly sixth-graders.
Wen told the players that he was "very happy" to join them, saying that building a strong and healthy body would help them in their studies.
"Only when children are healthy, can the country have a good future," Wen said. "We must keep a healthy body in order to better serve the people.", nor to bow to reality !
 Indeed, countries need stability, people need to live more secure . However, if the harm national dignity, to the detriment of individual personality as a precondition , rather porridge together three meals a day , eating buns , and do not share stability and secure !
 Perhaps some leaders or celebrities, in order not to lose easily share went to great lengths to get the share of comfort ,且喜容身赖四壁 (http://sy108.joinbbs.net/viewthread.php?tid=2005&extra=)
Soon after arriving at the Shibalidian Primary School in Beijing's Chaoyang District on Tuesday morning, Wen took part in a 40-minute basketball training session with 37 sixth-graders.
Following the instruction of teacher Zhang Tao, Wen learnt how to dribble and control the ball. A successful jump shot won him a big round of applause from the pupils.
Wen was also invited to play in a basketball match between two three-person teams of mainly sixth-graders.
Wen told the players that he was "very happy" to join them, saying that building a strong and healthy body would help them in their studies.
"Only when children are healthy, can the country have a good future," Wen said. "We must keep a healthy body in order to better serve the people.", so do everything possible to use some ridiculous reason , to suppress the patriotic enthusiasm of people full of justice . I ask the leadership of those who play it safe or celebrity , if you have any sense of shame of the heart, whether you feel ashamed of words ?
 hundred years ago, our country has suffered because of backwardness and the ravages of the Western powers . Today, national prosperity , and also to reproduce the history of that period of shame ?
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Soon after arriving at the Shibalidian Primary School in Beijing's Chaoyang District on Tuesday morning, Wen took part in a 40-minute basketball training session with 37 sixth-graders.
Following the instruction of teacher Zhang Tao, Wen learnt how to dribble and control the ball. A successful jump shot won him a big round of applause from the pupils.
Wen was also invited to play in a basketball match between two three-person teams of mainly sixth-graders.
Wen told the players that he was "very happy" to join them, saying that building a strong and healthy body would help them in their studies.
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Following the instruction of teacher Zhang Tao, Wen learnt how to dribble and control the ball. A successful jump shot won him a big round of applause from the pupils.
Wen was also invited to play in a basketball match between two three-person teams of mainly sixth-graders.
Wen told the players that he was "very happy" to join them, saying that building a strong and healthy body would help them in their studies.
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Soon after arriving at the Shibalidian Primary School in Beijing's Chaoyang District on Tuesday morning, Wen took part in a 40-minute basketball training session with 37 sixth-graders.
Following the instruction of teacher Zhang Tao, Wen learnt how to dribble and control the ball. A successful jump shot won him a big round of applause from the pupils.
Wen was also invited to play in a basketball match between two three-person teams of mainly sixth-graders.
Wen told the players that he was "very happy" to join them, saying that building a strong and healthy body would help them in their studies.
"Only when children are healthy, can the country have a good future," Wen said. "We must keep a healthy body in order to better serve the people.", I will correct
 
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