Debt Success Stories: President Barack Obama - Refresh Financial

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Debt Success Stories: President Barack Obama


When you think of Barack Obama, you don’t necessarily think of struggle. Whether you’re an Obama-supporter or not, the man is a polished symbol of self-confidence and achievement. He oozes self-assurance and when you look at him, you wonder if he’s had to struggle a day in his life.

This is, of course, just the way he carries himself. As a man of colour in the United States of America, we can only assume he’s overcome a lot of adversity. He’s probably seen his fair share of hatred, and experienced innumerable setbacks in his life. In fact, if you read his book, The Audacity of Hope, you know he’s seen struggle. Not the least of which was overcoming $120,000 in debt after he and his wife, Michelle, attended Harvard Law school.

For years, the Obama’s fought to get where they are carrying this debt on their shoulders. As Barack worked hard to establish himself as a recognizable politician in the most powerful country in the West, he was also sacrificing to pay down his enormous debt. In a speech to State University of New York in Buffalo, New York, the president said:

“I was in my 40s when we finished paying off our debt. And we should have been saving for Malia and Sasha by that time.”

In fact, had Obama not signed a book deal for “The Audacity of Hope”, it would have taken the power-couple even longer to become debt-free.

For the Obamas, the struggle was real and he hasn’t forgotten how difficult it was. Once he became president, Obama began to work on new legislation that would forgive student debt after a certain period of time.

All American Presidents make history by default, but Obama made history in a whole new way. Not only has he made the world look a little differently at race relations, but he’s worked hard to ensure hardworking graduates don’t fail under the weight of their student loans. Love him or hate him, you gotta appreciate that.

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