With the US elections coming up, President Barack Obama made an attempt to appeal to the younger generation by ‘slow jamming the news’ on the TV chat show ‘Late Night with Jimmy Fallon’. There is a strong feeling that Obama will not be re-elected as President, ending his one-term reign in the hot seat.
Massive support four years ago
The US president appeared on the chat show and talked about student interest rates as he looked directly into the camera. He was accompanied by the show’s hip hop house band The Roots, who provided him with a nice backing rhythm.
The camera then cut over to the host of the show Jimmy Fallon, who added more punch to the message the president was giving, but in his own unique way. The show was recorded during President Obama’s appearance at the University of North Carolina.
When Obama was elected four years ago, there was massive support for him from the younger generation who firmly believed that change was coming. But during his term as president, things have not gone so smoothly, with the US fighting its own debt and in the process losing its top AAA credit rating as well as the student debt crisis.
The legacy that Obama is leaving will not be one that he would have liked, and there is a strong chance that the events of the last four years will not inspire US voters to put Obama back into the biggest job in the world.
The situation has become worse, as American students are angered by fact that they are looking at higher levels of debt. Many students have been protesting out of frustration after learning that US student debt has now passed $1 trillion.
Protestors are arguing that if the Government was able to bail out the biggest banks who went and lost a large amount of money through risky bets and dodgy investments, why can they not forgive all student debt?
Students dropping out
One US dental resident who has been in university and then dental school education for eight years, will be starting his working life with a debt of $186,000. The same student went on to say that he would not be able to meet his expenses if he were to work at a community clinic.
Other students have simply dropped out after not having their grants renewed, with these students believing that amassing such a high level of debt is not worth studying for a degree.
It has been estimated by the Federal Reserve Bank of New York that approximately 15% of all Americans owe some amount of money for student loans, with two out of every three people in the 20s making up this number.