What Mr. Obama says about the new proposed student loans?

Every student aspires to shine in his respective field of study. He wants to study further and further to reinforce his knowledge. But at times, financial constraint puts bar to it and eventually kills his aim to go far. However, there are still some people who know how to get out of such constraint and make way for themselves. They try to find out ways in order to realize their goals. Every good and meritorious student deserves a better deal in his study life. He should be free to think and study further to his urge of knowledge and hence, contribute a bulk of portion of his knowledge to nation.

Around 200,000 Americans step outside the US to study further each year and around 650,000 students come to the US to pursue their higher studies. With respect to the American students, pursuing study abroad needs financial assistance and stability. Studying abroad not only involves study expenses but also requires money for other reasons such as travel expenditure, accommodations, other necessary materials and the like that add to the cost of study amounting to a huge figure. However, there is a respite for students in the USA. President Barack Obama of late announced a number of benefits for college loans. He proposed for a direct financial aid to students instead of private loans. Below I got a YouTube video in which Mr. President makes the announcement of some college loans, which is still in the pipeline. Under this system, students at some colleges can borrow loans directly from government, while others can get loans from private banks, or state agencies, who will in return get subsidies from Washington.



With that proposal, as usual, comes criticism from already existing lenders who fear to lose their lucrative business. They are also lobbying against this proposal. Whatever, the case maybe, we hope that the students can avail more and more beneficial aid from banks or the government so that they can pursue their higher studies and help nation grow stronger. I pay thanks to YouTube to record such a good video for others.