Obama: Michelle And I Just Paid Off Our Student Loans 8 Years Ago

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In an attempt to connect with young college-aged voters during a campaign stop at the University of North Carolina at Chapel Hill on Tuesday, President Barack Obama told told them that he and Michelle Obama paid off their student loans just eight years ago, the Daily Mail reports.

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The Daily Mail has more:

‘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,’ he said while addressing college students at the University of North Carolina at Chapel Hill on Tuesday.

‘That wasn’t that long ago.’

It really wasn’t. That would mean that the couple paid off their loans in the same year that he ran for and won the Senatorial race in 2004. By that point, he had been working as a state senator for seven years and Mrs. Obama was working as an executive at the University of Chicago hospitals.

For the 2004 fiscal year, the couple reported $204,647 in taxable income, which came from his state senate salary, her corporate salary, the royalties of his first book, “Dreams from My Father,” and their earnings from respective boards.

By the same calculation, Mr. and Mrs. Obama were 42 and 40 years old, respectively, when their loans were fully paid off.

In total, it took the couple roughly a decade to pay for those Ivy-League degrees. Now that sounds like a President and First Lady who can truly relate to the average American!
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