ATLANTA (WTVM) – President Barack Obama traveled to Atlanta on Tuesday to give a speech on the campus of Georgia Tech on college affordability.
This speech follows the president's signing of a student loan reform into law, redirecting billions of dollars in bank subsidies into student aid.
The move, which the White House describes as "a historic investment in college affordability" includes "increasing the maximum Pell Grant by $1,000, creating the American Opportunity Tax Credit worth up to $10,000 over four years of college, and letting borrowers cap their student loan payments at 10 percent of income."
His speech at Georgia Tech will be in reference to the signing of a presidential memorandum, directing the Department of Education and other federal agencies to work with the federal government to do more the help borrowers afford their monthly loan payments.
In Georgia alone:
- 1,454,000 federal student loan borrowers
- $44,263,989,000 in outstanding federal student loan debt
In Alabama alone:
- 591,000 federal student loan borrowers
- $16,306,263,000 in outstanding federal student loan debt
Additional state-by-state data can be found