On Tuesday, President Obama spoke in front of an exuberant crowd of students and faculty at the University of North Carolina in Chapel Hill. The topic of the day was student loan interest rates. Without action from Congress, interest rates on some student loans could nearly double in the coming months, causing concern for those already struggling to pay their existing student loan payments.


During his speech, the president connected with the crowd on a very personal level when he explained his experience with student loans.


“And we were lucky to land good jobs with a steady income. But we only finished paying off our student loans -- check this out, all right, I’m the President of the United States. We only finished paying off our student loans about eight years ago.  That wasn’t that long ago.”


Yes, the President of the United States understands what it is like to face a mountain of student loan debt and so his desire to make college more affordable is coming from his personal experiences.


Photo: Intel Photos/Flickr

Watch: President Obama on student loan interest rates
The president spoke about the pending student loan interest rate hikes during a Tuesday afternoon speech.