Barack Obama received a rapturous reception Tuesday from a huge crowd of students as he announced measures to make it easier to repay their enormous loans . The president addressed a crowd of 10,000 at the Georgia Institute of Technology in Atlanta after signing in new rules to shake up the student loans system . Obama changed rules governing how debt collecting companies treat early repayments - making it so high-interest debt is paid off first . Man with a plan : Obama spoke today about his aspirations for college to be more affordable for all . Happy to see him : 10,000 students cheered for the president as he spoke at the Georgia Institute of Technology on Tuesday . The measure , passed via a presidential memorandum - which does not require approval from Congress - also changed how loan providers keep students informed . They will now have to give fuller information about repayment options , and tell students when they fall behind . Total student debt stands at more than $ 1trillion nationally . His new rules are a response to the arcane loans system at the moment , which can be confusing to navigate and result in mounting charges . Obama also called for a website which would collate all the information on a student 's federal loans in one place - and provide a simple way to forward complaints , in a so-called 'student aid bill of rights ' . OMG : Students brandished smartphones , clapped and cheered when Obama entered the room . Touch me : Obama shook hands with some of the enthusiastic crowd as he spoke about reducing their enormous debts . Not only should every American be able to afford college , Obama said , they also should be able to afford the loan payments that kick in with a vengeance once they graduate . 'We 're trying to tackle this problem from every angle , ' Obama said . 'We want to make this experience more affordable , because you 're not just investing in yourselves , you 're investing in your nation . ' In the Oval Office ahead of his brief visit Obama signed the memo , aimed at third parties like Navient - formerly Sallie Mae - that contract with the government to collect on loans . The presidential steps aim to crack down on a student loan system known for being complex and confusing to navigate . In recent years , lawsuits and critical government reports have cast a light on industry abuses and the difficulties facing borrowers . Sell-out : Some 10,000 cheered Obama on as he announced measures to tackle America 's arcane student loans system . A Consumer Financial Protection Bureau study last year found borrowers were getting little help when they ran into trouble and had few affordable repayment options . And in May , Sallie Mae reached a $ 60million settlement with the Justice Department to resolve allegations it charged military members excessive interest rates and improperly sought default judgments . When Vickie Kight of Houston could n't afford to pay the interest accruing on her loans , she turned to her loan servicer for help - and says she did n't get it . Her wages being garnished , Kight dropped out of Louisiana 's Southern University , returning to school only years later once her finances were under control . Drinking it in : The president received a standing ovation before he had even spoken at the event . Getting the memo : Obama enacted a bundle of rule changes via a presidential memorandum in the Oval Office . 'They were very aggressive with me , ' Kight said in an interview . Her student loan servicer eventually passed her loan onto a collection agency . 'That 's when it got really hectic . They were n't providing much information . They just said you owe this much to the bank . ' Obama also floated the possibility of proposing legal changes to how student loans are affected by bankruptcy . Currently , student loans can not typically be discharged even in bankruptcy . His memo also requires servicers to apply early payments to loans with the highest interest rates , helping students pay off debt faster . Shaking it off : Obama shook hands with some of the excited students at the speaking engagement . Although Obama has long lamented the high cost of college , he 's run into obstacles that have limited his efforts to improve the situation . Using his executive authority , Obama expanded a federal repayment plan to allow more low-income Americans to cap their payments . But when Obama this year proposed to eliminate the '529 ' college savings plan to make way for education tax benefits , opposition was so strong that he had to jettison the idea . And the president 's $ 60billion pitch this year for two years of free community college has gained little traction in the Republican-controlled Congress . The government estimates total U.S. student debt exceeds $ 1.1trillion , with around 7million Americans in default .
President spoke to 10,000 people at Georgia Institute of finance . Before visit he signed Presidential memorandum with rule changes . insurance companies will have now have to strike off high - interest loans first . They will also have to provide more robust information to potential debtors . bush said measures important because ' you 're not just investing in yourselves , you 're investing in your own ' Student debt currently tops $ 1trillion .