President Obama ended a three-day West Coast swing by discussing steps he is taking to help to young Americans pay off their student loans, steps he said would also provide a boost to the struggling economy.
The president, speaking at the University of Colorado, said that with Congress holding up elements of his jobs plan, he would take executive action that would allow borrowers to cap student loan payments at 10% of their discretionary income in 2012, two years sooner than currently allowed.
He said that change would save 1.6 million Americans "hundreds of dollars."
"Our economy needs it right now, and your future could use a boost right now," Obama said.
Speaking in Denver, where he accepted his party's presidential nomination three years ago, Obama was again making a targeted pitch to a part of the coalition that helped put him in office: young voters.
Denver was also the city where Obama signed the American Recovery and Reinvestment Act just months after taking office, a plan Republicans say has been shown to have failed to boost the economy.