College students plagued by a lagging job market and the prospect of debt received some good news on Tuesday. According to the New York Times, President Obama traveled to Northern Virginia Community College to sign into law a student loan reform bill. The reason that Northern Virginia Community College visit is a big f***ing deal is not just because of the historic legislation (which, according to the Times, Obama described as “one of the most significant investments in higher education since the G.I. Bill."), but because, as you may have inferred by the Biden-esque phrasing, Northern Virginia is where Jill Biden teaches English.

Also worth noting is the fact that the bill will reportedly eliminate private fees to intermediary banks, expand the Pell grant and invest more money into community colleges. Opponents of the bill mainly note that jobs would result in job loss, as lender Sallie Mae released a statement saying that they’d have to cut a third of its workforce. Similarly, many Republican senators objected to the elimination of subsidies to private banks.

Obama, for his part, reportedly said that “For almost two decades, we’ve been trying to fix a sweetheart deal in federal law that essentially gave billions of dollars to banks”, saying that the money was going to pad student lenders pockets.

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Our Take

Score two legislative victories for Obama in a short period of time. Considering that lack of rancor surrounding this bill’s passage will help change the minds of those who think he hasn’t done much. Are you in that camp? Let us know by submitting a comment below!