• Letter of the week—April 30th, 2012

    I am in the final weeks of earning my MBA from the University of Montana. When I went back to school two years ago, I had $30,000 in student loans. At the time, my employer was reimbursing me for my tuition in graduate school—however, another job opportunity came up and I could not pass it up. My new position is with a nonprofit organization and therefore the option of tuition reimbursement is not available (understandably). In order to fund my graduate school tuition, I had to take out an additional $20,000 in student loans.

    I am a single mom to a 6-year-old son, and as you probably gathered from the paragraph above, I love my new job. Over the past few months, I was beginning to dread finishing school because I had absolutely no idea how I was going to repay my loans at over $500 a month. These payments would have made things so absolutely tight for us that I didn't know how we were going to live from month to month. I checked into a few things and found out that President Obama had signed an executive order addressing the repayment of student loans. Because of this action, it looks as if my payments are only going to be $175 a month. The substantial savings will make it possible for me to buy a house and for us to live like a normal, middle-class American family!

    I cannot stress how much this means to me—and, I know, to the many other young Americans who have been impacted as well. This is such a huge weight lifted off my shoulders, and I owe it all to President Obama. The fact that he understands and cares enough to take action is so absolutely commendable that I cannot express it in words.

    I just wanted this story to be told, and I hope the difference the President has made in my life and the lives of so many others has a positive impact on his re-election campaign. I can tell you right now that there has never been any doubt as to who I will be voting for in November: Obama-Biden 2012 all the way!

    Thank you for your time.

    Best regards,

    Tiffany, Montana

    MO Letter of the Week Student Loan Reform